Medi-Share and HSAs
We want to continue to expand your health care liberties by making health care sharing ministries like Medi-Share compatible with Health Savings Accounts (HSAs). Currently, these tax-free medical savings accounts work only with high-deductible health insurance plans (HDHPs). Health Savings Accounts are designed to promote personal responsibility, price shopping, wise decision-making, and personal savings, which make them the perfect fit for members of health care sharing ministries.
H.R. 1752 will revise the federal tax code to allow a member of a health care sharing ministry to be eligible to participate and utilize Health Savings Accounts. This legislation allows health care sharing members or their employer to make tax-free deposits in a personal savings account (treated as a trust under the law) that grow tax-free. Withdrawals from the Health Savings Account are tax-free for medical expenses.
At this time, great progress is being made to bring cosponsors on board for the bill. Members may be asked in the future to to contact a specific representative regarding co-sponsoring this bill, and we would appreciate your support.
We appreciate your prayers in this matter as we consider to pursue opportunities for members of health care sharing ministries to maximize their healthcare dollars.