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Health savings account debate starts anew in Madison

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Health savings account debate starts anew in Madison
New Richmond Wisconsin 127 South Knowles Avenue 54017

The debate over health savings accounts is being renewed at the State Capitol.

A public hearing has been held on a bill to give Wisconsinites a tax break for saving for their own health care.

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This is the third time Republicans have tried to approve the idea.

Gov. Jim Doyle vetoed the previous two, saying only the rich can afford to save for their own health care and the rest of us shouldn't have to subsidize them.

David Newby of the AFL-CIO said pretty much the same thing to lawmakers Wednesday. He said they don't amount to very much health care reform anyway.

But the Wisconsin Manufacturers and Commerce group says the employee savings put a dent into the spiraling health costs paid by businesses and that helps the economy in the process.

Tax deductions for HSA's have been allowed for years on the federal level.

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