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HOPE ACT
FAQs
01
What is the HOPE Act?
H.R.9394, the Health Out-of-Pocket Expense Act, or HOPE Act, is a groundbreaking, bipartisan bill targeted to low- and moderate-income individuals that would create personal, portable savings accounts (HOPE Accounts) available to more than 100 million Americans currently struggling to afford medical costs not covered by health insurance.
02
What is a HOPE account?
A HOPE Account is a new type of healthcare savings option. It is a tax-advantaged account that enables Americans with most types of insurance coverage, regardless of income, to save for health expenses through both individual and employer contributions.
03
How does the HOPE
Act help?
HOPE Accounts provide a practical way for individuals to save for out-of-pocket healthcare expenses like prescriptions, specialty care, co-pays, and coinsurance. This allows accounts holders to better manage the challenges of often unexpected, but inevitable healthcare costs and access the critical care they need.
04
Who benefits from
the HOPE Act?
Over 100 million Americans with insurance coverage through their employer, the exchange, Medicare, or Medicaid will be eligible to take advantage of individual and employer contributions to plan and save for inevitable health care expenses without being required to have a High Deductible Health Plan (HDHP). State Medicaid programs may also provide contributions to these accounts.
05
Why now?
The costs of healthcare have skyrocketed and only continue to climb, overwhelming Americans who are struggling with today’s economic challenges. Americans overwhelmingly see the affordability of healthcare as a top issue affecting the country. A 2024 Kaiser Family Foundation report found that half of U.S. adults say it is difficult to afford health care costs, leading many to delay seeking needed care, avoid filling prescriptions, or face medical debt and bankruptcy. This reality is unacceptable.
06
How can I support
the HOPE Act?
You can support the HOPE Act by contacting your representative to urge them to support this critical legislation, share information about the bill with your community, and join the National HOPE Alliance to help millions across the country who struggle with out-of-pocket medical costs.
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