Stethoscope on 100-dollar bills The Health Savings for Families Act would allow one spouse to make HSA contributions if their spouse has a health FSA, as long as that health FSA does not reimburse the expenses of the spouse paying into the HSA. (Photo: Getty)

A bipartisan bill introduced by Congress-members Jennifer Wexton, D-VA, Earl Blumenauer, D-OR and Mike Kelly, R-PA, would allow families to take advantage of the tax benefits of both health savings accounts and health flexible spending accounts—and save money on health care in the process.

According to a release from Wexton’s office, while at present couples who have two different health insurance plans and access to both an HSA and an FSA cannot take advantage of both, lest they incur a tax penalty, the proposed bill would eliminate that penalty.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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