EXCLUSIVE: The leader of the Senate’s healthcare-focused committee on Tuesday released a plan that would aim to make healthcare coverage more affordable for Americans, in part by giving them money in advance to cover out-of-pocket expenses.

Sen. Bill Cassidy, R-La., the chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee, told FOX Business that, given reports that many American families wouldn’t have $1,000 to cover expenses from a medical emergency or unanticipated expense, “We’ve got to put money in people’s pockets to pay for their out-of-pocket.”

His proposal would give individuals more money in advance to cover out-of-pocket costs through refundable tax credits that could amount to as much as $2,000 for a family of four. Those dollars would go into a health savings account (HSA) that would be available to help the account holder to cover deductibles under their health plan or out-of-pocket expenses.

“What’s really novel here is putting more money in people’s pockets with an advanceable tax credit, pre-funding a health savings account,” Cassidy said. “Right now you’re more incentivized to have a health savings account if you’re in a higher tax bracket. In this case, we’re pre-funding, so even if you aren’t in a higher tax bracket, it’s pre-funded for you.”

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Senate HELP Committee Chairman Bill Cassidy, R-La., touted the pre-funded HSA credits as a way to bring down healthcare costs. (Graeme Sloan/Bloomberg via Getty Images)

He said the pre-funded HSAs would make it easier for a household to get a health insurance policy that has lower premiums and is primarily focused on big ticket items by giving them greater means to cover standard expenses with the funds in their HSA.

“It’s a virtuous cycle that ends up in many ways benefiting the patient’s health and benefiting their pocketbook,” Cassidy said.

The Senate HELP committee chairman said his plan would also build on efforts by the Trump administration at the federal level to promote price transparency in the healthcare industry, which requires the costs of procedures like X-rays to be disclosed. With those costs disclosed, he sees it being easier for Americans to find the most affordable option and ultimately cover those expenses with the pre-funded HSA.

“Oftentimes, they’ll be paying with this pre-funded health savings account, and they’ll have the tools to find the best price because federal legislation has mandated these prices be made available, and the private sector has developed the kinds of apps that can steer them to the best place,” he said.

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A doctor reviews a post-operative X-ray in Miami Beach, Florida. (Jeff Greenberg/Education Images/Universal Images Group via Getty Images)

Cassidy’s plan also looks to empower Americans with knowledge about the foods they’re consuming by changing labels to signify the level of health risk an item poses.

“The label I have an idea of would be very simple – you look at the label: is this more or less likely to cause diabetes? Green would be less likely, red would be more likely, and yellow would be somewhere in between. And you could just look at the food. You don’t have to read a table, you don’t have to kind of figure out what percent of my daily allowance this is,” he said.

“Ultimately though, it’s about giving power to the patient over a pocketbook, power to the patient in terms of knowing the prices of things, power to the patients with these apps that people are developing, and then power to the patient with information,” Cassidy added.

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A healthcare worker walks through the halls at Duke University. (Duke University)

Americans have listed healthcare as one of their top concerns as voters prepare to head to the polls for this November’s midterm elections that will determine control of Congress. Cassidy is among the senators up for re-election, and he faces a Republican primary election in Louisiana before he can advance to the general election this fall. President Donald Trump has endorsed one of Cassidy’s challengers, Rep. Julia Letlow, in the race.

A recent Fox News poll found that 81% of voters said they were “extremely” or “very” concerned about healthcare. Those findings were similar to those of a poll by Gallup, which found that healthcare topped the list of domestic policy issues for the first time since 2020.

“There is a moment that demands an answer, there’s different things going on for gasoline and groceries, but for healthcare we need an answer,” Cassidy said. “I think this is a good answer because it builds upon things we already have in place, it doesn’t try to remake the healthcare system. Obamacare tried to remake the healthcare system and arguably the problems of affordability have gotten worse.”

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Cassidy’s announcement comes as the Senate HELP Committee is scheduled to hold a hearing on Thursday regarding ways to make prescription drugs more affordable for families through free market approaches, such as increased competition among generic and biosimilar manufacturers.

British holidaymakers are tightening their belts for the first time in half a decade, with fresh Barclays data revealing that travel spending slipped into reverse last month as households braced themselves against a fresh wave of cost of living pressures and the economic shockwaves emanating from the Iran conflict.

Card spending across the board rose by a modest 0.9 per cent year on year in March, a touch below February’s 1 per cent uptick, according to the high street lender’s latest consumer spending report. But it was the travel sector that delivered the most striking reversal: outlay on holidays and trips fell by 3.3 per cent, marking the first annual decline recorded by Barclays since March 2021, when the pandemic still held the country in its grip.

The pullback will come as an unwelcome jolt for an industry that has enjoyed a prolonged post-Covid boom, buoyed by consumers’ well-documented appetite for prioritising “experiences” over material goods. Spending at travel agents tumbled 4.6 per cent, airlines saw a 4.1 per cent drop and public transport receipts fell 2.9 per cent. The one bright spot was domestic hospitality, with hotels, resorts and other accommodation providers posting a 1.2 per cent uplift as Britons opted to stay closer to home over the Easter break.

The ongoing Middle East conflict, which erupted in late February following US and Israeli strikes on Iran, is reverberating through the British high street. Barclays found that one in seven adults has either delayed a significant purchase or started squirrelling away cash in anticipation of higher energy costs this summer.

Consumers have been granted a brief reprieve at the meter: Ofgem lowered the energy price cap by 7 per cent from 1 April. However, the regulator has already flagged an 18 per cent jump from July, as wholesale costs, stoked in part by geopolitical instability, feed through to household bills.

Essentials are once again the pinch point. Spending on food and petrol edged up 0.5 per cent, with a 1.6 per cent rise in fuel spend representing the first increase since February 2023 as surging crude prices push up forecourt costs. Discretionary spending growth cooled to 1.1 per cent, although clothing (up 3.6 per cent) and entertainment (up 3.5 per cent) continued to hold their own. Cinema takings climbed 5.5 per cent, with Ryan Gosling’s Project Hail Mary and Pixar’s Hoppers drawing audiences back to the big screen.

Jack Meaning, chief UK economist at Barclays, said the data pointed to a softer spell ahead. “Shoppers delaying major purchases and building up a savings buffer in response to the shock from the Middle East reinforces our view that activity will be muted in the coming months,” he said. With a Bank of England rate decision due in under three weeks, Meaning argued that Threadneedle Street’s best course would be to hold rates steady, “containing the worst of inflation without unduly squeezing consumers”.

Despite the storm clouds, household-level sentiment is proving resilient. Some 67 per cent of adults remain confident in their personal finances and 71 per cent in their ability to live within their means. The gloom deepens, however, when consumers look outwards: just 21 per cent express confidence in the UK and global economies, down from 25 per cent and 24 per cent respectively in February.

Karen Johnson, head of retail at Barclays, said the figures exposed a gulf between mood and behaviour. “Cost of living concerns and economic uncertainty continue to weigh on confidence, prompting caution and a desire to cut back, but spending remains resilient across several categories, namely clothing, entertainment and digital content and subscriptions,” she said. Households, she added, were performing an “ongoing balancing act” — trimming where they could while still splashing out on what mattered most.

A parallel report from the British Retail Consortium painted a rosier headline picture, with UK retail sales up 3.6 per cent year on year in March, well ahead of the 1.1 per cent growth recorded a year earlier and above the 12-month average of 2.6 per cent. The figure was powered by a 6.8 per cent leap in food sales.

Helen Dickinson, the BRC’s chief executive, credited the timing of Easter. “An early Easter provided a much-needed boost to food sales as families came together over the long weekend,” she said. “Non-food performance was more uneven: demand was robust for computers, toys, and homeware, but clothing and footwear continued to struggle.” The Middle East turbulence, she added, had also bled into the tills of retailers selling travel-related goods.

For SME operators in hospitality, leisure and retail, the message from March’s numbers is mixed but instructive: British consumers are still willing to spend — but increasingly on their own doorstep, and with one eye firmly on what July’s energy bills might bring.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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The updated scheme will enable customers to be rewarded for running appliances such as washing machines and dishwashers, and charging electric vehicles, when more green energy is being generated and demand is low, such as on weekends or Bank Holidays.

The Annual Report of the Council of Economic Advisers indicates that boosting the housing supply and slashing bureaucratic red tape would help address the housing affordability issue in the U.S.

“Not only does the bureaucrat tax add over $100,000 to the cost of a home; it also acts as a barrier to homes being built,” the report says.

“Under the Trump Administration, the Federal government has taken great steps to reduce the burden on homebuilders imposed by Federal regulations. Reform at the State and local levels to tackle the sources of the six-figure bureaucrat tax would greatly enhance the ability of supply to keep up with stronger demand.,” the report declares.

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President Donald Trump walks toward reporters before answering questions prior to boarding Air Force One on April 10, 2026 at Joint Base Andrews, Md. (Win McNamee/Getty Images / Getty Images)

“If homebuilding and the growth of the single-family housing stock had continued at their historical pace instead of falling dramatically after 2008, there would be 10 million or more additional single-family homes today,” the report states.

The document asserts that the nation “has been in the midst of a national housing affordability crunch that reached historic severity due to policies of the prior Administration.”

“Census New Residential Sales data reveal that the share of new homes available for under $300,000 fell from a little shy of 1-in-2 in 2019 to 1-in-6 in 2024,” the report says.

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Aerial view of single family homes line the streets on April 2, 2026 in Thousand Oaks, California ( Kevin Carter/Getty Images / Getty Images)

The document indicates that the current administration’s illegal immigration crackdown is helping to address the housing issue.

“The Trump Administration is also committed to addressing drivers of housing demand that compete with American families. First and foremost, President Trump has secured the U.S. border and has reversed the open borders policy of the Biden Administration that led to waves of illegal immigrants bidding up rents and house prices. In addition, President Trump issued an Executive Order to ban institutional investors from buying up any additional single-family homes that could otherwise go to an American homeowner and called upon Congress to codify the policy in legislation,” the report reads.

NEW JERSEY OUTPACES US HOUSING MARKET, TOPS NATION IN PRICE GROWTH

President Donald Trump waves to the media after walking off of Air Force One at Miami International Airport on April 11, 2026 in Miami, Fla. (Tasos Katopodis/Getty Images / Getty Images)

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“The Trump Administration has shifted economic policy decisively away from the Biden Administration’s approach of government-driven demand and government-impaired supply to a new posture of private-sector-driven demand and healthy supply unleashed by deregulation, pro-growth tax relief, and America First trade,” the report states. “By expanding economic potential, these policies have enabled the yield on 10-year Treasury bonds to fall by half a percent, putting downward pressure on mortgage rates. President Trump also instituted a plan for Fannie Mae and Freddie Mac to buy $200 billion worth of mortgage bonds to further reduce mortgage rates. In total, mortgage rates are now nearly a full percentage point down from their January 2025 level, which promises substantial savings for the American people absent further rapid house price appreciation.”

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Sen. Jim Justice, R-W.Va., and his family are suing to block what they describe as an attempt to take control of their historic Greenbrier resort after a hotel-affiliated investor acquired hundreds of millions of dollars in their debt.

In a complaint filed in Greenbrier County Circuit Court, Justice, his family and their business entities accuse an affiliate of Omni Hotels & Resorts and several financial players of orchestrating a takeover of the iconic property through what they call “deceptive” tactics.

The dispute centers on roughly $289 million in loans tied to Justice family businesses, which were sold by Carter Bank to White Sulphur Springs Holdings, an entity backed by Omni’s parent company, TRT Holdings.

That entity has separately filed a federal receivership lawsuit, seeking to place the Greenbrier and related businesses under court-controlled management — a move that could ultimately strip the family of operational control.

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The Greenbrier Resort in White Sulphur Springs, West Virginia. (Mitchell Layton/Getty Images)

According to the complaint, the Justices say they were actively working to pay off the debt and had secured potential financing. They claim TRT executives initially expressed interest in a cooperative deal, including a proposal to forgive $200 million in debt in exchange for a 50% ownership stake and management control of the resort.

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Justice allegedly agreed to the framework, but the family claims TRT reversed course the next day. Soon after, the Justices say they were issued a notice of default, which they argue was designed to block their ability to pay off the loans at an agreed price of about $341 million, according to the complaint.

The family is now asking the court to halt any foreclosure or asset seizure and to allow them to repay the debt under what they describe as fair terms.

Sen. Jim Justice, R-W.Va., talks with reporters in the U.S. Capitol after a vote on March 12, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

The complaint also accuses Carter Bank and TRT of acting in bad faith during negotiations, including raising payoff demands and imposing tight deadlines that the family claims undermined refinancing efforts.

In addition, the Justices allege TRT improperly obtained confidential financial and operational information about the Greenbrier during earlier deal discussions and later used that information to position itself to acquire the debt and pursue control of the resort.

However, the Omni-backed entity presents a sharply different account. In the federal receivership filing, White Sulphur Springs Holdings alleges “waste, fraud and abuse” within the Justice business empire, claiming resort revenues were diverted to other ventures, taxes went unpaid, and certain employee-related obligations were not fully met.

The filing also points to a series of financial and legal pressures facing the family’s businesses, including tax disputes, loan defaults and other litigation, according to court filings and records cited by the Charleston Gazette-Mail.

The Greenbrier, a historic luxury resort long tied to the Justice family, has faced financial strain in recent years. (Mitchell Layton/Getty Images)

The Greenbrier, a historic luxury resort long tied to the Justice family, has faced financial strain in recent years, including prior foreclosure threats that were ultimately avoided, according to the Gazette-Mail.

The dueling legal actions now set up a high-stakes legal battle over control of one of West Virginia’s most prominent properties, with both sides accusing the other of acting in bad faith as the future of the resort hangs in the balance.

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FOX Business reached out to the Justice family, Omni Hotels & Resorts, and Carter Bank for comment.