• NASE Supports Health Savings Account Legislation
• Health Savings Accounts Take Off With Over 1 Million Sold
• NWBC Update: The State of Women’s Entrepreneurship in the U.S., New Chair Appointed

NASE Supports Health Savings Account Legislation

Senator Rick Santorum (R-PA) and Representatives Sam Johnson (R-TX), Eric Cantor (R-VA), Paul Ryan (R-WI) and J.D. Hayworth (R-AZ) introduced bills S. 978 and H.R. 1872 to implement much of President Bush’s health care agenda in the Senate and House last week. The NASE supports this legislation as an important step toward affordable health care coverage. “This legislation presents a multi-faceted effort to address the health care crisis in this country,” said NASE president Robert Hughes. “With the ever-rising costs of health care, micro-business owners and their employees need affordable alternatives to the current health insurance system.” The legislation includes three key provisions supporting HSAs and low-income workers: Allows a deduction of health insurance premiums for those individuals who do not receive health insurance through their employer and thus, purchase a High Deductible Health Plan (HDHP) with Health Savings Accounts (HSAs). Encourages employers to contribute to their employees HSAs by offering employers a refundable tax rebate of up to $500 for a contribution to each family account and up to $200 for each individual account contribution. Provides a tax credit for the purchase of health insurance for low-income individuals of up to $1,000 for an individual and $3,000 for a family. Up to one-third of the credit can be put into a health savings account. “This legislation is a way to get the consumer back in the game and gives incentive to shop around,” said Ryan. “Forty percent of those purchasing HSAs did not have insurance before. This legislation will help expand insurance to the uninsured.” The NASE has been a strong supporter of Health Savings Accounts and tax credits to assist micro-business owners and the self-employed. For more information regarding Health Savings Accounts, please go to http://www.hsainsider.com/. For more information on the NASE's position on health care, visit http://advocacy.nase.org/.

Health Savings Accounts Take Off With Over 1 Million Sold

Over one million people currently receive health coverage through lower-premium, high deductible health insurance plans in conjunction with health savings accounts (HSAs), according to a study by America’s Health Insurance Plans (AHIP). Sales of high-deductible health plans have more than doubled over the last six months. “HSAs are steadily gaining momentum in the marketplace,” said AHIP president Karen Ignagni. She also said that there has been significant growth in the number of health insurers providing high-deductible, HSA- eligible plans including 68 for small employers (up from 20 in September) and 56 for individuals (up from 11). With HSAs, individuals or employers can contribute pretax dollars to an account to pay for future medical expenses. Unused contributions roll over from year to year. For more information regarding Health Savings Accounts, please go to http://www.hsainsider.com/ . For more information on the NASE's position on health care, visit http://advocacy.nase.org/.

NWBC Update: The State of Women’s Entrepreneurship in the U.S., New Chair Appointed

The National Women’s Business Council (NWBC) held a news conference and Web cast last week to discuss the current state of women’s entrepreneurship. Members of the council highlighted important issues for women business owners including affordable health care and better access to capital and procurement of federal contracts. The conference had a discussion format where much of the council spoke on the progress and hindrances within the realm of women’s entrepreneurship. While highlighting such facts as women business owners represent 48 percent of all U.S. enterprise and provide jobs for nearly 30 percent of the workforce, the council focused on progress that still needs to be made. “While [government] contract dollars to women-owned businesses have increased by 50 percent over the last three years, and we as a council recognize that progress, I am afraid and disappointed to say that it’s the law of small numbers at work as only 3 percent of government contract dollars were awarded last year to women-owned businesses,” said outgoing NWBC chair Marilyn Carlson Nelson. Association health plans, health savings accounts, and tax credits were proposed as ways to help women entrepreneurs and small business owners in general afford health insurance for themselves and employees. This week President Bush appointed Tami Longaberger of Newark, Ohio, to be the new chair of the NWBC. Her appointment as chair will last three years. As CEO of Longaberger Company, Longaberger has been recognized as the 18th largest women-owned U.S. company by the former Working Woman magazine, according to the NWBC. “I am honored to have been appointed to the chair of the National Women’s Business Council, the only federal advisory body tasked to represent the interests of the women’s business community in national policy discussions,” said Longaberger. To view the Web cast of the press conference or learn more about the National Women’s Business Council, visit www.nwbc.gov. For more information on the NASE’s resources for women, visit http://women.nase.org/.