What We Know: Southwest Missouri Congressman Eric Burlison is proposing a new way to help pay for changes to the nation’s healthcare system.
What It Means: The Republican from Missouri’s 7th Congressional District has unveiled a funding provision in his Great American Healthcare Act. It would change the Federal Reserve’s authority to pay interest on reserve balances.
Outside research cited by Burlison projects the change could save more than one trillion dollars over the next decade.
What’s Next: Burlison says those savings would help offset the cost of his healthcare proposals.
His bill would expand access to health savings accounts, raise contribution limits and allow people to use HSA money for more healthcare expenses. It would also make changes aimed at improving price transparency and prescription drug access.
Burlison says Americans already spend enough on healthcare, but argues patients should have more control over how those dollars are spent.
The proposal would have to make its way through Congress before becoming law.
(Photo courtesy of Eric Burlison)