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Thursday, September 19, 2024

Senate Democrats block Sen. Rick Scott’s proposed legislation on HSAs expansion

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Senator Rick Scott | Senator Rick Scott Official Photo

Senator Rick Scott | Senator Rick Scott Official Photo

Senator Rick Scott's IVF Bill Blocked by Senate Democrats

WASHINGTON, D.C. – Senator Rick Scott today requested immediate passage of his bill, the Increasing Value for Families (IVF) with HSAs Act. The bill was blocked by Senate Democrats.

The proposed legislation aims to assist individuals and families in planning and paying for medical expenses, such as in vitro fertilization (IVF), by decoupling Health Savings Accounts (HSAs) from high-deductible health plans and doubling the current contribution limits on HSAs from $4,300 to $8,600 for individuals and from $8,550 to $17,100 for families. Representative Kat Cammack is leading the effort in the House of Representatives.

Senator Scott stated: “I have been called many names, some nice and some not so nice over the years – Governor, Senator, husband, dad… but my favorite is grandpa to my seven beautiful grandkids. Right now, my daughter is using in vitro fertilization or IVF to grow her family. I support IVF 100%, and the truth about IVF is that it is one of the few unifying policies almost all Democrats and Republicans agree with. It’s a wonderful thing that helps bring beautiful babies into the world and I’m fighting to make it more accessible and affordable for millions of Americans with my IVF with HSAs Act.”

Scott emphasized that his bill would expand access to IVF by doubling HSA contribution limits and expanding eligibility by decoupling them from traditional high-deductible health plans. He noted: "The real-world impact of my bill is that millions of Americans will be able to save more money in tax-free accounts to pay for medical expenses like IVF."

Despite Scott's appeal for bipartisan support, Senate Democrats blocked the bill's passage. Scott vowed to continue advocating for its approval: “If the Democrats and the Senate are serious about ensuring opportunities for families, we can start today by allowing this good bill to pass.”

He expressed confidence that once passed in the Senate, it would gain approval in the House and reach President Biden’s desk.

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