Another attempt at the Capitol to help Wisconsin workers set up Health Savings Accounts.
Legislation from State Representative Dean Kaufert (R-Neenah) would allow tax deductions for money put into Health Savings Accounts. Under the bill, individuals could claim a non-refundable income tax credit for 6.5 percent of the allowable amount that the individual claims as a federal tax deduction.
Critics of the proposal claim they only benefit wealthier individuals who can afford higher premiums. Kaufert admits they're not for everyone, but they can help. He says they could easily work with several of the health care reform initiatives coming from the Governor right now.
Kaufert says the bill will bring Wisconsin in-line with federal law, which already allows for deductions on HSAs.
The bill is up for a hearing Thursday at the Capitol.
