Latest news with #HOPEAct
Yahoo
6 days ago
- Health
- Yahoo
Opinion - America has a health care affordability gap. Congress is working toward change.
The rising cost of health care polls as one of the top financial worries for hardworking American families, surpassing other financial stressors including debt, child care and fuel costs. This is particularly problematic for the millions of working-class Americans who are the backbone of our communities. Even those who have insurance can't escape the pressure when they are inevitably presented with medical bills not covered by their plans. A resounding majority of voters — nearly 80 percent, according to a recent poll by Fabrizio Ward — say it's time the middle class has a dedicated tool to help them offset runaway health care costs. Yet the complexities and sheer size of our health care system make finding solutions seem insurmountable to many and divisive among the policymakers working toward change. Even as leaders in Congress are focusing on the myriad of issues driving up the cost of care, such as prescription price hikes, lack of price transparency, and bureaucratic red tape, costs continue to climb. Americans can't afford to wait any longer. That is why we are reaching across the aisle and supporting the Health Out-of-Pocket Expense Act, or HOPE Act, to give over 100 million eligible Americans the chance to manage their health care expenses. By advancing bipartisan legislation, we can bridge the health care affordability gap, help hardworking Americans receive the care they need, promote better health care outcomes, and work toward becoming a healthier nation. The HOPE Act, with its broad eligibility and tax advantages, offers a structured and personal way to save for future health needs. The legislation introduces HOPE Accounts, an innovative savings tool designed to help individuals and families plan for medical costs. Individuals and their employers can contribute to a personal account that stays with them forever, untethered to their job, giving people a new way to save for future health expenses, from a routine visit to preventative care to an unforeseen emergency. Most appealing to Americans is the portability of HOPE Accounts, meaning the funds can never be lost, even when they change jobs. It's security for the long run. The HOPE Act offers a lifeline for families and individuals who find themselves battling these ever-rising costs, the consequences of which are illustrated both by data and constituent stories. A staggering 45 percent of adults in the U.S. can't afford care when they need it — a 6-point increase since 2022. Families are delaying or altogether skipping out on medical treatment simply out of fear of health care costs, threatening their physical health and adding to anxieties and stress. Nearly one in three American adults avoided seeking needed care in three months alone, while others, often living paycheck to paycheck, are forced to choose between their health and affording other basic, essential needs from paying off bills and credit cards to buying food for their families. Worse yet, when care can no longer be avoided, Americans find themselves dipping into their life savings. In the most severe yet all too common cases, patients attempt to buy time by using credit cards or otherwise face medical debt and even bankruptcy. Americans coming from middle- or lower-income backgrounds are hit hardest, disproportionately affected by out-of-pocket expenses and the consequences of an inability to pay. For these individuals, balancing basic living expenses with unforeseen health care needs can be devastating no matter how hard they work to make ends meet. The HOPE Act is not a complicated overhaul of the health care system, nor is it a narrow program with eligibility restrictions. It's a straightforward, common-sense solution that empowers families to take control of their health care expenses in a financially responsible way. As health care costs rise, it is essential for Congress to work toward solutions that not only address the immediate need for affordable care but also equip people from all walks of life with tools that prepare them for future challenges. The HOPE Act does just that, empowering over 100 million people to manage and protect their health. We already have momentum with an endorsement from the Problem Solvers Caucus, a 62-member group evenly split between Republicans and Democrats and committed to advancing solutions by finding common ground. It's time for our other House colleagues to follow suit. While this solution alone may not completely solve the health care affordability crisis, it is certainly a step in the right direction. Times have seemingly never been more unpredictable. But the HOPE Act is an opportunity for Congress to come together, show bipartisanship, and provide the critical lifeline working families need to take their health, security and futures back into their own hands. Rep. Blake Moore (R) represents Utah's 1st Congressional District and is a member of the Ways and Means Committee. Jimmy Panetta (D) represents California's 19th Congressional District and is a member of the Ways and Means Committee. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
6 days ago
- Business
- The Hill
America has a health care affordability gap. Congress is working toward change.
The rising cost of health care polls as one of the top financial worries for hardworking American families, surpassing other financial stressors including debt, child care and fuel costs. This is particularly problematic for the millions of working-class Americans who are the backbone of our communities. Even those who have insurance can't escape the pressure when they are inevitably presented with medical bills not covered by their plans. A resounding majority of voters — nearly 80 percent, according to a recent poll by Fabrizio Ward — say it's time the middle class has a dedicated tool to help them offset runaway health care costs. Yet the complexities and sheer size of our health care system make finding solutions seem insurmountable to many and divisive among the policymakers working toward change. Even as leaders in Congress are focusing on the myriad of issues driving up the cost of care, such as prescription price hikes, lack of price transparency, and bureaucratic red tape, costs continue to climb. Americans can't afford to wait any longer. That is why we are reaching across the aisle and supporting the Health Out-of-Pocket Expense Act, or HOPE Act, to give over 100 million eligible Americans the chance to manage their health care expenses. By advancing bipartisan legislation, we can bridge the health care affordability gap, help hardworking Americans receive the care they need, promote better health care outcomes, and work toward becoming a healthier nation. The HOPE Act, with its broad eligibility and tax advantages, offers a structured and personal way to save for future health needs. The legislation introduces HOPE Accounts, an innovative savings tool designed to help individuals and families plan for medical costs. Individuals and their employers can contribute to a personal account that stays with them forever, untethered to their job, giving people a new way to save for future health expenses, from a routine visit to preventative care to an unforeseen emergency. Most appealing to Americans is the portability of HOPE Accounts, meaning the funds can never be lost, even when they change jobs. It's security for the long run. The HOPE Act offers a lifeline for families and individuals who find themselves battling these ever-rising costs, the consequences of which are illustrated both by data and constituent stories. A staggering 45 percent of adults in the U.S. can't afford care when they need it — a 6-point increase since 2022. Families are delaying or altogether skipping out on medical treatment simply out of fear of health care costs, threatening their physical health and adding to anxieties and stress. Nearly one in three American adults avoided seeking needed care in three months alone, while others, often living paycheck to paycheck, are forced to choose between their health and affording other basic, essential needs from paying off bills and credit cards to buying food for their families. Worse yet, when care can no longer be avoided, Americans find themselves dipping into their life savings. In the most severe yet all too common cases, patients attempt to buy time by using credit cards or otherwise face medical debt and even bankruptcy. Americans coming from middle- or lower-income backgrounds are hit hardest, disproportionately affected by out-of-pocket expenses and the consequences of an inability to pay. For these individuals, balancing basic living expenses with unforeseen health care needs can be devastating no matter how hard they work to make ends meet. The HOPE Act is not a complicated overhaul of the health care system, nor is it a narrow program with eligibility restrictions. It's a straightforward, common-sense solution that empowers families to take control of their health care expenses in a financially responsible way. As health care costs rise, it is essential for Congress to work toward solutions that not only address the immediate need for affordable care but also equip people from all walks of life with tools that prepare them for future challenges. The HOPE Act does just that, empowering over 100 million people to manage and protect their health. We already have momentum with an endorsement from the Problem Solvers Caucus, a 62-member group evenly split between Republicans and Democrats and committed to advancing solutions by finding common ground. It's time for our other House colleagues to follow suit. While this solution alone may not completely solve the health care affordability crisis, it is certainly a step in the right direction. Times have seemingly never been more unpredictable. But the HOPE Act is an opportunity for Congress to come together, show bipartisanship, and provide the critical lifeline working families need to take their health, security and futures back into their own hands. Rep. Blake Moore (R) represents Utah's 1st Congressional District and is a member of the Ways and Means Committee. Jimmy Panetta (D) represents California's 19th Congressional District and is a member of the Ways and Means Committee.
Yahoo
17-04-2025
- Politics
- Yahoo
Kansas advocacy group marks HOPE Act anniversary by calling attention to food insecurity
Jami Reever, executive director for Kansas Appleseed, said on the 10-year anniversary of a state law restricting access to food program benefits that Kansas ought to honor the legacy of the late U.S. Sen. Robert Dole, R-Kansas, by aligning policy with programs demonstrated to reduce hunger. (Sherman Smith/Kansas Reflector) TOPEKA — The advocacy organization Kansas Appleseed marked the 10th anniversary of the HOPE Act by denouncing the legacy of a state law blamed for undermining food security and work of the late U.S. Sen. Robert Dole to aid malnourished people. The HOPE Act, formally known as the Kansas Hope, Opportunity and Prosperity for Everyone Act, was signed into law in April 2015 by then-Gov. Sam Brownback. The measure significantly increased barriers to participation among Kansans in SNAP, previously known as the food stamp program. In the subsequent decade, Republican leadership in the Kansas Legislature has continued to seek expansion of restrictions on SNAP beyond minimum requirements in federal law. 'As a born-and-raised Kansan, living just 30 miles from Bob Dole's hometown, I knew from a young age that if Bob Dole fought for something, it was the right thing to do.' said Jami Reever, executive director for Kansas Appleseed. 'His fight to end hunger became Kansas' fight to end hunger, and to see that legacy stripped away year after year is contrary to Kansas values.' On Wednesday, Kansas Appleseed released a report on the 10-year anniversary of the HOPE Act that outlined political history of anti-hunger initiatives tied to Kansas, challenged criticism of SNAP and recommended the state embrace policies to better meet food needs of families. The report said Kansas ranked 48th among the states and District of Columbia in terms of SNAP access. The state ranked fifth-lowest in terms of the rate of eligible people enrolled in SNAP, Kansas Appleseed said. 'This report highlights the sharp contrast between our state's regressive approach to SNAP and the compassionate, bipartisan legacy of feeding people that Kansas forefather Bob Dole left our state,' said Haley Kottler of Kansas Appleseed. 'Because of these regressive approaches, Kansas has gone from leading the nation on anti-hunger efforts to becoming one of the hardest places to access SNAP. That is not who we are, and it is not who we have to be.' Kansas Appleseed proposed enhancing access to SNAP to mirror 'real needs of everyday, hardworking Kansans.' Research showed participation in SNAP improved dietary intake, supported mental health, reduced poverty and promoted economic self-sufficiency, Kansas Appleseed said. In 2015, Brownback took on the Supplemental Nutrition Assistance Program borne of bipartisan advocacy by Republican U.S. Sen. Dole of Kansas and the late Democratic U.S. Sen. George McGovern of South Dakota. Brownback signed the HOPE Act to limit adults without children to three months on SNAP during any 36-month period in which the person wasn't employed part-time or enrolled in job training. In addition, individuals with a felony drug conviction were given a lifetime ban from SNAP in Kansas. People without authority to legally live in the United States were excluded from calculations of household size when determining SNAP eligibility, but earnings of those immigrants was counted when assessing whether a household qualified in terms of overall income. The law also forbid use of federal or state funding to inform the public about available food assistance. Brownback also banned use of Temporary Assistance for Needy Families cash assistance to buy alcohol, cigarettes or lottery, concert or sports event tickets. TANF cash couldn't be expended in a movie theater, swimming pool, theme park or video arcade. Brownback said the idea was to implement state laws that could compel people to lift themselves out of poverty. 'The primary focus of the bill is to get people back to work,' Brownback said at the time. 'Because that's where the real benefit is — getting people off public assistance and back into the marketplace with the dignity.' Democratic Gov. Laura Kelly, who voted against the HOPE Act in 2015 while a member of the Kansas Senate, said state laws undermining the potential of SNAP and TANF were a mistake. 'The HOPE Act was wrong then, and it remains wrong now,' Kelly said. 'Now, more than ever, the Legislature should look for ways to support working Kansas families rather than further shredding the safety net that gives Kansans a bridge back to self-sufficiency.' Research by a University of Kansas professor indicated state policy or law limiting enrollment in SNAP made it more difficult to prevent child abuse or neglect as well as prevent entry of children into foster care. In aftermath of the HOPE Act, the number of Kansas children in foster care reached a record level. Hunger Free America reported U.S. Department of Agriculture data indicated 15.3% of Kansas residents lived in food insecure households between 2021 to 2023. That included 13.6% of children, 8.4% of working adults and 6.6% of elderly residents in Kansas. House Speaker Dan Hawkins, a Wichita Republican, created in 2022 the House Welfare Reform Committee to advance the welfare agenda started by Brownback. In a speech, Hawkins said the state should focus on shrinking government rather than 'growing the welfare state and dependency.' He said tax dollars ought to be reserved for 'the truly needy instead of siphoning them away to able-bodied adults who don't want to work.' That point of emphasis led to House Bill 2140, which was advanced in 2023 to further limit eligibility for SNAP. Existing law at that time blocked SNAP benefits to able-bodied adults 18 to 49 without dependents and not employed at least 30 hours per week unless they were in a job training program. The bill, which died in the Senate, would have extended the prohibition to Kansans 50 to 59 years of age. Another piece of legislation in 2023, endorsed by the Florida think tank Opportunity Solutions Project, would cut SNAP benefits to noncustodial parents who fell behind in child support payments. GOP advocates of the concept said the legislation would withhold food aid from families as leverage to extract cash from 'deadbeat' parents. Sen. Oletha Faust Goudeau, a Wichita Democrat, said the bill would have made it less likely parents could support their children and more likely people went hungry. 'Reducing access to food for Kansans who are already struggling financially is unnecessarily harsh and ineffective,' Faust Goudeau said. In the 2025 session, the House and Senate approved a bill requiring the state to seek permission from USDA to exclude candy and soft drinks from Kansas' list of products eligible to be bought with SNAP benefits. Kelly vetoed the bill. The Senate voted to override the governor, but the House didn't challenge the veto. 'Restricting assistance under the guise of making sure low-income individuals are 'healthy' strips them of their dignity,' said Sen. Pat Pettey, a Democrat from Kansas City, Kansas. 'Families in poverty face enough challenges, but what they chose to eat should not be legislated.'
Yahoo
11-04-2025
- Business
- Yahoo
HealthEquity, Inc. (NASDAQ:HQY): A Bull Case Theory
We came across a bullish thesis on HealthEquity, Inc. (NASDAQ:HQY) on ValueInvestorsClub by Fat_Tony. In this article, we will summarize the bulls' thesis on HQY. The company's shares were trading at $111.75 when this thesis was published, vs. the closing price of $79.94 on Apr 10. 15 States with the Best Healthcare in the US HQY provides technology-enabled service platforms to individuals for making health saving and spending decisions, paying healthcare bills, receiving personalized benefit information, earning wellness incentives, growing their savings, and making investment choices. It is one of the leading Health Savings Account (HSA) providers. The HSA asset base has witnessed mid-teens growth over the years but is expected to offer a more stable mid to high single-digit rate in the future. The opportunity still exists in a seemingly mature market where only 37 million of the 110 million households have HSA accounts. HQY has been an outperformer in this segment, capturing 27% of the account share. The number of HSA accounts for HQY grew by 13%, much higher than the mid-single-digit growth of the industry. The existing Republican government is also expected to frame regulations that are expected to grow the HSA corpus in a bid to 'denationalize' healthcare. Modifications to the HOPE Act should make more people eligible for HSA accounts. These include veterans at Veterans Affairs facilities and elderly people availing Medicare through their Social Security benefits. The limit for contribution towards HSA is also expected to rise from $4.15k to $7.5k per person. There may also be an expansion to the services for which funds in the HSA can be used. Direct Primary Care, funeral expenses and gym membership can be brought under the coverage of HSA. HQY has been able to grow the cash balance at 13-14% in the last five years and has deposited these funds in 5-year term deposits or CDs. Lately, the funds are invested in annuities, allowing HQY to earn the 5-year Treasury rate + 75 bps compared to the 5-year Treasury rate + 10 bps when it was held in banks. The current mix is 45:55 in favor of annuities expected to change to 15:85 in the next few years. This conversion in the portfolio should increase EPS by 65% in the next five years. While the consensus EPS for 2027 is $4.76, HQY can easily achieve an EPS of $6 with its current growth rate and portfolio reconstruction. This offers a P/E of ~14x at its current price, making it an attractively priced stock. While we acknowledge the potential of HQY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HQY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
02-04-2025
- Politics
- Yahoo
Kansas lawmakers 'put lipstick on a pig,' governor says of new welfare law
A new state law that reorganizes existing law without changing policy was criticized by the governor as she declined to sign it. Democratic Gov. Laura Kelly announced March 31 that she allowed House Bill 2027 to become law without her signature. It reorganizes state statutes on public assistance, including eligibility requirements for cash aid, food assistance, child care subsidies and medical benefits. "The HOPE Act was wrong then, and it remains wrong now," Kelly said in a statement. "Legislators are only trying to put lipstick on a pig, and I refuse to associate myself with the HOPE Act. "Now, more than ever, the Legislature should look for ways to support working Kansas families rather than further shredding the safety net that gives Kansans a bridge back to self-sufficiency." The HOPE Act was passed by the 2015 Legislature and signed by then-Gov. Sam Brownback. It codified welfare reforms made by the Brownback administration intended to move families off public assistance and into the workforce. Brownback said at the time that often government "poverty programs fail the poor." He said the reforms would break "cycles of dependency." Kelly, who at the time was a senator from Topeka, voted against the 2015 bill. Now a decade later, in her statement on the 2025 reorganization, Kelly described it as "the so-called HOPE Act" that "severely restricting Kansans' ability to access social service programs like SNAP food assistance, TANF cash assistance, and childcare assistance." A memo from legislative staff said the reorganization in HB 2027 covers language related to the following: Temporary Assistance for Needy Family, or TANF. Supplemental Nutrition Assistance Program, or SNAP, also known as food stamps. The child care subsidy program. Fraud investigations. Requirements related to drug screening and convictions. KanCare, the state Medicaid program. The 24-page bill passed the Republican-led House and Senate with supermajority support divided largely along party lines, but received relatively little debate in the Legislature. Rep. Francis Awerkamp, R-St. Marys, explained Feb. 11 on the House floor why he had introduced the bill in the welfare reform committee, which he chairs. "Our current statute is a little bit of a mess, and it's hard to follow; it's hard to read through and understand," Awerkamp said. He said he asked legislative staff to take on a "summer project of reorganizing that statute in a way which they thought would make the most sense." That effort culminated in HB 2027, which Awerkamp said makes no policy changes. Awerkamp praised past policy changes as ensuring the programs "help people in their time of need, and also help them out of the welfare state." "Though it doesn't change any policy, there's a lot of policy in here that I've disagreed with," said Rep. Jarrod Ousley, D-Merriam and the top Democrat on the welfare reform committee. "A lot of it I would like to see repealed." Rep. Ford Carr, D-Wichita, attempted to amend the bill to change some of the policy. His amendment was intended to ensure no one is denied food assistance solely due to a prior felony drug conviction. The Republican-led rules committee deemed the amendment was not germane. While Carr argued that it should have been germane because the subject of the bill was welfare reform, Rep. Susan Humphries, R-Wichita, said the subject was actually "reorganization." House Democrats also used a different proposed amendment as an opportunity to debate Medicaid expansion. In the Senate, floor debate on the bill lasted about three minutes. Jason Alatidd is a Statehouse reporter for The Topeka Capital-Journal. He can be reached by email at jalatidd@ Follow him on X @Jason_Alatidd. This article originally appeared on Topeka Capital-Journal: Kansas governor says lawmakers put lipstick on a pig with welfare law
