Last week, the House passed, by a vote of 277 to 142, a bill that would allow for more money to be contributed to health savings accounts (HSAs), for more people to have HSAs, and for HSA funds to be spent on more things — gym memberships, over-the-counter drugs, and feminine hygiene products. Supporters claim these new tax breaks, which will cost more than $40 billion over 10 years, will help make health care more affordable and less wasteful. Instead, these seemingly innocuous HSA extensions have the potential to make our health care system both less equitable and more costly.
