Stethoscope on 100-dollar billsThe Health Savings for Families Act would allow one spouse to makeHSA contributions if their spouse has a health FSA, as long as thathealth FSA does not reimburse the expenses of the spouse payinginto the HSA. (Photo: Getty)

A bipartisan bill introduced by Congress-members JenniferWexton, D-VA, Earl Blumenauer, D-OR and Mike Kelly, R-PA, wouldallow families to take advantage of the tax benefits of bothhealth savings accounts and health flexible spending accounts—and save money onhealth care in the process.

According to a release from Wexton's office, while at presentcouples who have two different health insurance plans and access toboth an HSA and an FSA cannot take advantage of both, lest theyincur a tax penalty, the proposed bill would eliminate thatpenalty.

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Marlene Satter

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