The cost of health insurance for the average family has tripled over the past two decades. Rising healthcare costs are eating into gains in wages for American workers.

Over the years, individuals and families have lost sight of how their healthcare dollars are actually spent. Health savings accounts (HSAs), however, are revolutionizing our healthcare system.

HSAs are giving individuals and families control over their healthcare dollars, which is injecting more consumerism and choice into the healthcare marketplace. HSAs are helping patients and doctors communicate more directly and are causing health insurers to compete better for Americans’ healthcare dollars.

HSAs not only give people more control over their health and healthcare dollars but they also provide individuals and families with an affordable healthcare option. Since the inception of HSAs two years ago, one-third of those who have purchased HSA-compatible insurance were formerly uninsured. Thirty-three percent of HSA-compatible health plans sold are now offered by small businesses that previously did not offer health coverage. In the past two years, over 3 million Americans have discovered that HSA-compatible insurance is the best and most affordable option for the healthcare coverage they need.

Congress must take action to make HSAs an even more affordable, accessible, and consumer-friendly healthcare option. First, individuals and families should be put on an equal footing with employers when purchasing coverage.

Currently, employers use pre-tax dollars to purchase healthcare coverage. In the same way, individuals should be allowed a tax deduction for premiums paid on health insurance.

Moreover, to provide further incentives to individuals and families, Congress should provide a payroll tax credit equal to that enjoyed by employers purchasing healthcare coverage for their employees. By taking away these tax inequities, we can put everyone on the same playing field and expand access to affordable healthcare for all Americans.

Congress should also increase the contribution limit on HSAs so that more savings can build up over the long term for future medical needs. I support doubling the amount individuals and families can contribute to an HSA — up to $5,250 for individuals and $10,500 for families. That way, as money builds up tax-free, individuals and families will realize more savings and will have an incentive to be even smarter consumers in the healthcare market.

Health savings accounts put Americans back in control of their healthcare dollars and empower the doctor-patient relationship. These accounts create incentives for Americans to save for their future healthcare needs and invite consumerism and competition back into the healthcare market.

More market transparency and more competition mean lower prices for healthcare. Lower costs mean more healthcare for more Americans. Congress should use the opportunity it has in July to expand and liberalize HSAs.

Cantor is a member of the Ways and Means Committee.