HSA firms boost lobbying to cash in on Trump’s Great Healthcare Plan
The health savings account (HSA) industry is gearing up for expansion as sellers of these accounts are seizing the opportunity to grow their market. A newly formed nonprofit organization called the Great American Health Alliance (GAHA) has been established by a group of companies and organizations within the HSA industry. GAHA, a 501(c)(4) nonprofit, is able to engage in unlimited lobbying efforts, support political candidates, and keep its funding sources undisclosed.
Key members of GAHA include HealthEquity, one of the largest administrators of HSAs, and the American Bankers Association, which represents institutions holding approximately 90% of all HSAs. The organization is led by brothers Keith Nahigian, who serves as the president and has a background in working for multiple GOP presidential campaigns, and Ken Nahigian, who previously led the Trump transition in 2017 and served as health secretary Robert F. Kennedy Jr.’s liaison to senators during his confirmation process.
The establishment of GAHA signifies a strategic move by industry players to advocate for the expansion and promotion of HSAs. With the backing of influential members and experienced leadership, the organization is poised to make significant strides in advancing the interests of the HSA industry.
As the HSA market continues to evolve, the efforts of GAHA and its members are expected to play a crucial role in shaping the future landscape of healthcare savings accounts. By leveraging their expertise, resources, and lobbying capabilities, these industry stakeholders are positioning themselves to capitalize on the growing demand for HSAs and drive further growth and adoption in the market.
