FOR IMMEDIATE RELEASE Contact: Michael Wardrip
April 7, 2008 678-697-6213
House Bill Would Help More Georgians Obtain Health Insurance
Georgia Tax Advantaged HSAs are finally available in Georgia!
(Atlanta, GA) -- The Georgia Associations of Health Underwriters (GAHU) applaud the Georgia General Assembly for passing HB 977 and SB 383 that provide incentives for individuals and employers to adopt the high deductible health plans necessary for individuals to open Health Savings Accounts (HSAs). The bill exempts this coverage from the state and local health insurance premium tax; individual taxpayers will have their premiums for the coverage exempt from state income tax and employers with up to 50 employees will receive a credit against state income tax equal to their premiums or $250 per employee in such a plan. The bill also provides for wellness incentives for policyholders from insurers and incentives for insurers to work with the Georgia Department of Insurance to develop new qualifying products for Georgia's citizens.
Michael Wardrip, a GAHU member and a member of the Uninsured Working Group who worked diligently for the bill's passage said, "Georgians who decide to adopt such plans can look forward to many advantages which will make health coverage more affordable for them and make these policies more available in the state. The incentives for wellness activities get to the root of health cost increases because not only are HSAs helping more Americans afford health insurance, they are also addressing the issue of rising health care costs. These incentives give Georgians a reason to be more healthy and prudent health care consumers. When patients are paying more attention to the cost of health care and demanding value for their dollars, total health care spending will decline.”
The bill was the result of the hard work by the Uninsured Working Group, which included the Medical Association of Georgia, Georgia Hospital Association, Georgia Associations of Health Underwriters, Georgia Association of Health Plans, several insurers and the Center for Health Transformation. The group worked over a number of months to reach a consensus on changes that could help make coverage more affordable for Georgians, particularly those without insurance coverage. The bill also received substantial support from NFIB Georgia and the Georgia Chamber of Commerce. The bill received much active support in the legislature by Governor Perdue and his floor leaders, Lt. Governor Casey Cagle, Senator Judson Hill, Representative Tom Knox, Representative Mickey Channell and many other leaders in the Georgia legislature.
“We look forward to working with the sponsors of this important legislation on making the cost of health care more affordable for all Georgians,” added Wardrip.
The Georgia Associations of Health Underwriters represents approximately 800 agents and brokers selling and servicing health insurance in Georgia. To find out more, please go to the website www.gahu.org or call (770) 516-4746.
