[Congressional Record Volume 150, Number 72 (Thursday, May 20, 2004)]
[House]
[Pages H3405-H3406]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         BENEFIT OF HEALTH SAVINGS ACCOUNTS AFTER JUST 6 MONTHS

  (Mr. BURGESS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.).
  Mr. BURGESS. Mr. Speaker, this weekend we are going to mark the 6-
month anniversary where we in this House passed the conference report 
to modernize Medicare. Since that time, in 6 months' time, we are now 
on the threshold of having the Medicare prescription drug discount 
card, which will come to us June 1, and that will

[[Page H3406]]

make a user-friendly database available to seniors across the country. 
For the first time, seniors will be able to comparison shop for their 
prescription drugs, just like they do for cruises, shoes and other 
necessities.
  Also, since that time, we have seen the growth of Health Savings 
Accounts that were part of that legislation. There are some interesting 
figures about Health Savings Accounts. Almost half of the people 
signing up for Health Savings Accounts earn under $50,000 a year, 
hardly a program that just benefits the rich, but we hear that over and 
over again.
  Fifty-six percent of the people that have signed up for Health 
Savings Accounts are under 40 years of age. Sixty-two percent are 
families, as opposed to just individuals, and there are comparable 
benefits after the deductibles are met.
  The most important thing, though, Mr. Speaker, is this is money that 
patients own and they control. It is their accounts, not the 
government's.

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