Health Savings Accounts Come Under Fire

Health savings accounts were criticized as "tax shelters" that help the wealthy at the expense of those struggling to afford insurance coverage at a Wednesday Congressional hearing.

The House Ways and Means Committee Subcommittee on Health convened the hearing in the wake of a recent General Accountability Office report that found average adjusted gross income for HSA participants was $139,000 -- more than double that of non-participants.

Over half of people eligible for HSAs don't participate in them, according to the report.

HSAs "start off providing assistance to those who already can afford health care coverage period," said Rep. Xavier Becerra (D-Calif.). ...