House Bill No. 573 Summary

• State officers and employees may create and maintain health savings accounts and enroll in high-deductible health plans in accordance with federal law (26 U.S.C. section 223).

• The Department of Administration shall deposit monthly contributions into employees' health savings accounts equal to the difference between the high-deductible health plan premium and the state's lowest deductible group health plan premium, not to exceed IRS maximum allowable contribution limits.

• State employees with health savings accounts may make additional voluntary contributions to their accounts.

• The Department of Administration is authorized to promulgate rules to implement the health savings account provisions.

• Legislative intent is to empower state employees to make responsible medical care decisions by encouraging enrollment in high-deductible health plans with funded health savings accounts.