FROM THE OFFICE OF PUBLIC AFFAIRS

Today, Treasury Secretary John Snow applauded Congressmen Philip Crane, Eric Cantor, Sam Johnson and Jim Ramstad for introducing legislation that implements President Bush’s proposal to make health insurance more affordable. The proposal contained in the President’s FY05 budget will help make health insurance more affordable by providing an above-the-line deduction for high deductible health insurance premiums.

“I applaud Congressmen Crane, Cantor, Ramstad and Sam Johnson for introducing legislation that implements President’s Bush’s proposal to help working Americans cover the cost of health care,” stated Secretary Snow.  “This proposal would provide a new deduction to individuals who purchase qualified health insurance policies and establish Health Savings Accounts (HSAs). Health Savings Accounts will change the way millions can save to meet their health care needs-- they provide an important and welcome option for many Americans to fund their health care expenses. Empowering individuals with the ability to meet their own health care needs will further help families to better prepare for the future." 

“I look forward to working with Congress to ensure this legislation is enacted.”