billionaire entrepreneur Mark Cuban It is believed that the government may have introduced a version of UBI without anyone realizing it. He thinks it comes through an unexpected avenue: health savings accounts.
“I think what’s interesting is [Trump] The government offered a UBI plan, hidden behind direct HSA contributions, but no one noticed,” Cuban wrote in a recent post on X.
I think it’s interesting that the government offers a UBI plan, hidden behind HSA direct contributions, but no one notices
Those who qualify for annual HSA contributions of around $3,000 can pay a 20% penalty on withdrawals.
That’s $200 per month. AKA UBI, it’s for anyone…
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Qualifying individuals can receive tax-advantaged HSA contributions of up to $3,000 per year, he said. Those funds are subject to a 20% penalty if used for non-medical expenses, but that still amounts to about $200 per month in available cash.
“AKA Universal Basic Income, it’s available to anyone who takes the standard deduction or even pays zero tax because of the child tax credit,” he added.
Cuban stressed that this structure would act like a soft safety net for low-income Americans, even if it’s not officially labeled a universal basic income. “I never thought we would see a universal basic income proposal. But here we are!”
Still, he criticized the approach, writing: “I don’t like HSA contributions because so little money actually goes to health care.”
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Cuban’s comments sparked controversy. 2024 Libertarian Party Presidential Candidates Lars Mapstead He countered, “The government doesn’t put $3,000 into an account. The individual or employer funds the HSA with their own money. Calling it a UBI means new public spending, and that’s not happening,” he said. “The $200-a-month framework is misleading.”
Another person added that the HSA structure “misses the point of being cruelly designed” to favor the comfortable but exclude about 40 percent of Americans. “This is reverse welfare for the comfortable,” they say. Cuban simply replied: “Wrong.”
spine surgeon John Asgar also challenged this idea. “Eligibility is limited, contribution caps remain low, and access requires enrollment in a qualified plan,” he said. “Funds must be paid up front, and non-medical withdrawals trigger taxes and a 20 percent penalty.”
