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Report: Bush Might Shift Employers To HSAs

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NU Online News Service, Nov. 18, 2004, 1:08 a.m. EST

The Washington Post is reporting today that the Bush administration might propose eliminating the deduction employers get for paying for employee health coverage.[@@]

In exchange, the Bush administration would propose other tax breaks for businesses, such as new efforts to shield interest, dividends and capital gains from taxation, according to a Washington Post article based on quotes from anonymous sources.

The Bush administration also would promote proposals for new, “tax advantaged” lifetime and retirement savings accounts and an expanded health savings account program, the article says.

Representatives for the White House were not immediately available for comment.