Sending Office: Honorable Steve Stivers
Cosponsor the Responsible Additions and Increases to Sustain Employee (RAISE) Health Benefits Act
Congressman Steve Stivers (R-OH) & Congressman Vicente Gonzales (D-TX)
Providing families with more discretion in how they pay for the rising costs of healthcare, while also allowing them to save for future medical expenses.
We write to ask for your support of the bipartisan Responsible Additions and Increases to Sustain Employee (RAISE) Health Benefits Act,
We frequently hear from our constituents how rising healthcare costs and current policies make it challenging for them to afford, and plan for, their families’ healthcare expenses. The RAISE Act enhances Flexible Spending Accounts as a tool to pay for these
costs. Currently, FSAs allow families to set aside money to pay for healthcare services and items that are not covered by insurance, such as: doctor copayments, prescription drugs, medical supplies, vision and dental services. The un-used money, however, does
not roll over to the next year, making the process of saving money for large medical expenses practically impossible.
The current cap on annual contributions to an FSA is $2,700, and this arbitrary cap does not reflect the reality of healthcare costs that families face today and undermines the economic benefits of allowing families to use FSAs to build up funds for medical
needs. The RAISE Act addresses this by:
- Eliminating the “use it-or-lose it” rule, allowing families to hold onto their savings by rolling over all unused funds in a Flexible Savings Account in perpetuity.
- Allowing families an additional $500 in contributions per dependent after the first two dependents.
- Increasing the current annual FSA contributions cap from $2,700 to $5,000 per year.
e-Dear Colleague version 2.0