H.R.5475 - HSA Accessibility and Portability Act of 2006109th Congress (2005-2006)
Summary: H.R.5475 — 109th Congress (2005-2006)
Introduced in House (05/24/2006)
HSA Accessibility and Portability Act of 2006 - Amends the Public Health Service Act to authorize a health insurance issuer to elect, instead of complying with the guaranteed issue requirements (that require a health insurance issuer offering coverage in the small group market in a state to accept every small employer that applies and to accept all eligible individuals without certain restrictions), to: (1) guarantee continuation of coverage through individual health insurance for an individual who no longer qualifies as an eligible individual of the employer at a rate that does not exceed 150% of the standard individual rate applicable to individual coverage in the state; and (2) furnish information for the Secretary of Health and Human Services to monitor the impact of such election on access to, and affordability of, health insurance coverage in the small group market and in the individual market.
Requires such an election to apply to all eligible individuals of that small employer at the time of such election, but does not require applicability to an individual who becomes eligible after such election. Allows an election under this Act to be made only with respect to coverage of a small employer under health insurance coverage that consists of a high deductible health plan and a contribution to a health savings account.