Proposal Floated to Create New Type of HSA Account

Senator Rick Scott (R-FL) has introduced S. 3264, the More Affordable Care Act. The bill would allow states to waive certain Affordable Care Act (ACA) requirements if they maintain a high-risk insurance pool. A new type of health savings account called a Trump Health Freedom Account would be created for residents in waiver states. Deductions and credits that would have been paid on behalf of participants under the Exchange if not for the state waiver would be redirected to the new HSA-style accounts to be used for health insurance and qualified medical expenses.  A press release with additional details can be found here.