Skip to main content
S 1247 104th Congress Senate Taxation Catastrophic health insurance Economics and Public Finance Employee health benefits Excise tax Federal employees Finance and Financial Sector Fines (Penalties) Flexible benefit plans Government Operations and Politics Government employees' health insurance Government paperwork Health Income tax Indexing (Economic policy) Labor and Employment Law Losses Medical savings accounts Social Welfare

Family Medical Savings and Investment Act of 1995

Introduced: September 15, 1995 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 15, 1995
Read twice and referred to the Committee on Finance.
Sep 15, 1995
Sponsor introductory remarks on measure. (CR S13660-13661)
Sep 15, 1995
Introduced in Senate
 Plain-English summary Congressional Research Service

Family Medical Savings and Investment Act of 1995 - Amends the Internal Revenue Code to allow an individual covered under a catastrophic health plan a deduction in an amount equal to the amount paid by the individual to such individual's medical savings account not to exceed the lesser of: (1) $2,500; or (2) the catastrophic health plan deductible. Allows the deduction whether or not the individual itemizes deductions. Excludes employer-provided coverage under an accident or health plan from the gross income of an employee.

Amends Federal law to allow a Government contribution to be made under the Federal Employees Health Benefits program for both a medical savings account and a catastrophic health plan.

What's happening now September 15, 1995

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1