Employee Health Care Cost Reduction Act

Employee Health Care Cost Reduction Act - Amends the Internal Revenue Code to allow trustees of individual retirement accounts maintained for the benefit of employees to extend credit for the payment of medical expenses, with such accounts as security for such credit. Allows such extension of credit only in cases where the individual agrees to accept a high-deductible option under a group health insurance plan offered by the employer of such individual in return for contributions by the employer to such account.