Opening Plans to Individuals and Offering New Services for Mental Health Act of 2023
The proposed changes by HB 5752 are expected to enhance the affordability of mental health services by allowing individuals to utilize their HSAs without first meeting a deductible for certain mental health treatments. This can particularly benefit those who may have previously avoided seeking mental health care due to cost barriers. By promoting first-dollar coverage, the bill aims to incentivize individuals to prioritize their mental health and seek necessary interventions without financial hindrance. The amendments will take effect for plan years beginning after December 31, 2023.
House Bill 5752, also known as the 'Opening Plans to Individuals and Offering New Services for Mental Health Act of 2023' or the 'OPTIONS Act of 2023', proposes amendments to the Internal Revenue Code of 1986 that would allow first-dollar coverage of mental health services for health savings accounts (HSAs). This change seeks to eliminate the requirement for a deductible on the first $500 of mental health benefits, thereby making mental health services more accessible to individuals using HSAs. The bill is introduced by Mr. Fitzpatrick and Mr. Trone and has been referred to the Committee on Ways and Means for further consideration.
While many supporters laud the bill for its potential to improve access to mental health care, it could also prompt discussions about the broader implications for health insurance plans. Critics may question how such amendments balance with the need for deductibles in health insurance, which are traditionally seen as a cost-control measure. There might be concerns about whether the absence of deductibles for mental health services could lead to an overutilization of those services, and whether the proposed coverage will be equitably available across different plans and socioeconomic groups.