National HOPE Alliance Applauds Congressional Problem Solvers Caucus Endorsement of the Health Out-of-Pocket Expense (HOPE) Act to Help More than 100 Million Americans Confront the Crisis of Runaway Healthcare Costs

Coalition of Community and Healthcare Leaders, Worker Advocates, and Employer Groups Urge U.S. House of Representatives to Support Bipartisan HOPE Act

Washington, DC (December 16, 2024) – The National HOPE Alliance, a coalition of community and healthcare leaders, consumer and worker advocates, employer groups, and others working to address the runaway costs of healthcare, today celebrated the endorsement of the Health Out-of-Pocket Expense (HOPE) Act by the Congressional Problem Solvers Caucus. The bill was originally introduced by Congressmen Blake Moore (R-UT) and Jimmy Panetta (D-CA), with Representatives Brian Fitzpatrick (R-PA), Raul Ruiz (D-CA), Brad Schneider (D-IL), and Adrian Smith (R-NE) joining as original co-sponsors of the bipartisan bill. The bill currently has 20 co-sponsors.

The HOPE Act would help more than 100 million Americans better manage their out-of-pocket health expenses, support access to essential care, and bridge a critical gap for working- and middle-class families overwhelmed by today’s economic challenges. The National HOPE Alliance is a new partnership fighting to raise awareness, mobilize communities, and urge policymakers to support this critical tool amid healthcare inflation and costs that pressure American families – and only continue to climb.

“We applaud the bipartisan Problem Solvers Caucus, and the leadership of Representatives Blake Moore and Jimmy Panetta, for working together to endorse the HOPE Act and stand up for hardworking Americans who deserve affordable, accessible, and essential care,” said Katya Myagkova, spokesperson for the National HOPE Alliance. “Millions of people across the country cannot wait for sweeping fixes and reforms to the challenges plaguing our healthcare system. They need help now, and the HOPE Act does just that, providing an immediate, common-sense solution to help secure the care – and the relief – they need today.”

Americans overwhelmingly see healthcare affordability as a top issue affecting the country. Studies show that over half of adults in the United States are struggling to afford health expenses, leading many to delay seeking needed care, avoid filling prescriptions, or face medical debt or bankruptcy. The National HOPE Alliance was built with the vision of a future where no family must choose between their health and other basic needs. The HOPE Act is a solution that helps hardworking Americans from all walks of life afford and access the critical healthcare they need.

“We urge policymakers and other stakeholders to join us in our fight to bring this legislation over the finish line,” continued Myagkova.

The HOPE Act would help individuals better plan for and manage their health expenses by creating HOPE Accounts, portable savings accounts available to more than 100 million Americans, but targeted to benefit those from low- and moderate-income backgrounds most. HOPE Accounts would enable individuals to save for out-of-pocket costs not covered by health insurance, such as prescriptions, co-pays, specialty care costs, and coinsurance through a tax-advantaged account funded by individual and employer contributions.

The HOPE Act has been endorsed by the Health Transformation Alliance; Teamsters Local Union No. 665; Council for Affordable Health Coverage; Machinists Automotive Trades, District Lodge 190; American Benefits Council; Americans For Prosperity; End Chronic Disease; Intermountain Health; ERISA Industry Committee; HealthEquity; Americans for Tax Reform; National Federation of Independent Business; Regence Blue Cross Blue Shield of Utah; and SSM Health. A full list of supporters can be found here.

Visit HopeActNow.com to learn more about the National HOPE Alliance and the HOPE Act, thank the co-sponsors of the bill, and urge your Member of Congress to support the HOPE Act today.

The full text of the bill can be found here.

About the National HOPE Alliance

The National HOPE Alliance is a coalition of community and healthcare leaders, consumer and worker advocates, employer groups, and others working to help over 100 million Americans manage their health expenses and access the care they need.

For media inquiries or further information, please contact: 

Katya Myagkova

info@HopeActNow.com

(202) 255-9581