A bill has passed the U.S. House that will make any payments you make from your health savings account (HSA) subject to review and verification to make sure it is a legitimate health expense, according to the Wall Street Journal. Nothing like adding regulations and bureaucracy to turn low-cost self-directed spending into high-cost administrative nightmares.
Pushing for the provision was a company called Evolution Benefits, which has patented a system for the substantiation of health-care expenses. Evolution’s lobbyist, John McManus, was the former staff director of the Health Subcommittee under Republican Bill Thomas.
Evolution has sent a letter stating that even it does not want this. President Bush has threatened a veto.
