The Patient Protection and Affordable Care Act, which was signed into law a year ago, contains 10 titles and 26 subtitles. The Health Care and Education Reconciliation Act soon amended that law with two titles and eight subtitles. Amid the thousands of pages in these health-care acts, only two minor provisions directly affect health savings accounts (HSAs).
Nevertheless, HSAs seemed to have benefited from this benign neglect. "HSAs have gained in popularity since the passage of healthcare legislation last March," says Terry McCorvie, CEO of Workable Solutions, a benefits administration firm in Orlando, Fla. HSAs are still growing, although assets are still modest, and advisors, consumers and employers remain interested. Moreover, integral parts of last year's healthcare reform law may actually encourage the growth of HSAs.
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