HR 5324 114th Congress House Taxation Health care costs and insurance Health care coverage and access Income tax deductions Income tax rates

Health Savings Account Expansion Act of 2016

Introduced: May 25, 2016 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 25, 2016

Introduced in House

May 25, 2016

Referred to the House Committee on Ways and Means.

Plain-English summary Congressional Research Service

Health Savings Account Expansion Act of 2016

This bill amends the Internal Revenue Code to modify the requirements for health savings accounts (HSAs). The bill modifies the requirements to:

increase the maximum contribution amounts,
permit the use of HSAs to pay health insurance premiums and direct primary care expenses,
repeal the restriction on using HSAs for over-the-counter medications,
eliminate the requirement that a participant in an HSA be enrolled in a high deductible health care plan, and
decrease the additional tax for HSA distributions not used for qualified medical expenses.

What's happening now May 25, 2016

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1

Cosponsors 1