Health Savings Acounts take a hit – Thanks to Jim Webb

VA Tea Party Federation — Mon, 03 Jan 2011 22:08:36 +0000

The following was received recently via email:

Friends,

Happy New Year! While we’re gearing up for the new Congress and the Virginia General Assembly session, I wanted to take a minute and update you on just one of the reasons we’re fighting to repeal ObamaCare.

January 1 brought some of the first unpleasant side effects of ObamaCare to Virginia consumers – the end of Flexible Spending Accounts and Health Savings Accounts as we know them.

Desperate for tax dollars to pay for their $1 trillion health care takeover, Nancy Pelosi, Barack Obama, and Jim Webb decided to pick the pockets of consumers who opted to take responsibility for their own health care costs and remove the ability of consumers to use FSA and HSA plans to pay for things like aspirin and other non-prescription health needs.

Jim Webb cast one of the deciding votes that allowed ObamaCare to become law. See here and here.

Until this week, consumers could use their accounts to set aside pre-tax money for medical expenses. But thanks to Webb and other tax happy Democrats, over-the-counter drug purchases are now off limits to FSA and HSA accounts. Consumers who mistakenly charge such purchases to the accounts will not only be held liable for the taxes that they would have otherwise paid, but also a 20% penalty.

While we have won a major victory against this monstrosity in the courts and our new GOP majority in the House of Representatives is preparing a repeal vote in the coming days, we must continue to pursue every available opportunity to roll back this unprecedented assault on our liberty — and our nation’s fiscal future.

Thanks for being involved in the fight! If we all keep working hard, we’ll send Jim Webb packing in 2012!

Yours in Republican victory,

Chairman Pat Mullins

Virginia Tea Party Patriots » Senator Jim Webb

Health Savings Acounts take a hit – Thanks to Jim Webb