March 19, 2002

"I propose we give workers more choice.  I propose we reform the system to make the system more individualized, by creating personal health accounts."
       -President Bush in a speech at the Medical College of Wisconsin, 2/11/02

WASHINGTON D.C.--- Today President George W. Bush encouraged Congress to pass further economic incentives for small business that will spur the economy. One of the incentives Bush advocated is the expansion of Medical Savings Accounts (MSAs).

MSAs are tax-free accounts which are teamed with a high deductible that providing comprehensive coverage at a significantly lower cost. Right now MSAs are restricted  to the self-employed and small businesses with 50 or less employees. Further, only the employee or employer can contribute to the account, not both.

The Treasury Department has reported that one-third of those purchasing an MSA were uninsured when they made the purchase.

"The money is your money.  It`s your money in the health account, not the government`s money.  And you can use it for whatever health care need that arises.  If you don`t use it, it`s yours to keep.  And the more affordable -- and for the more affordable premium, you also get catastrophic care, protection in case of serious illness."
               -President Bush in a speech at the Medical College of Wisconsin, 2/11/02

"The latest figures from the U.S. Treasury Department confirm that MSAs make a difference. Of [those] who have purchased an MSA policy since the program began in January 1997, more than a third were previously uninsured."
                                                                        -Sen. Torricelli (D-N.J.) Wall Street Journal, 7/28/00


To schedule an interview with Karen Kerrigan or another representative from the Coalition for Patient Choice please contact Katie Wright at 703.683.5004 ext. 132.