Health Care Cost Reduction Act of 2012
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Jun 7, 2012 | House · vote #361 | On Passage | Passed | 270–146 | See who voted → |
| Jun 7, 2012 | House · vote #360 | On Motion to Recommit with Instructions | Failed | 179–239 | See who voted → |
Health Care Cost Reduction Act of 2012 - Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) repeal restrictions on payments from health savings accounts, Archer medical savings accounts, and health flexible spending and reimbursement arrangements to only prescription drugs or insulin (thus allowing distributions from such accounts for over-the-counter drugs); (3) allow amounts in a flexible spending arrangement (FSA), up to $500, that are not spent for medical care to be distributed to the FSA participant as taxable income after the close of a plan year (currently, such unspent amounts are forfeited); and (4) repeal the limitation on the recapture of advance payments of the tax credit for health insurance premium assistance that exceed the allowable credit amount for a taxable year.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 427.