HR 6937
115th Congress
House
Taxation
Bank accounts, deposits, capital
Health care costs and insurance
Health care coverage and access
Income tax credits
Income tax exclusion
Tax administration and collection, taxpayers
Health Savings Modernization Act of 2018
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2018
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sep 27, 2018
Introduced in House
Plain-English summary
Health Savings Modernization Act of 2018
This bill modifies the requirements for tax-favored health savings accounts (HSAs) to:
- allow the high deductible health plans required for an HSA to provide certain coverage without a deductible,
- allow HSAs to be used for the medical expenses of adult children who are under the age of 27,
- allow excess payments of the premium assistance tax credit to be paid to the taxpayer's HSA,
- modify the limit on out-of-pocket expenses for high deductible health plans, and
- increase the HSA contribution limit to the amount of the limit for the sum of the deductible and out-of-pocket expenses for a high deductible health plan.
The bill also eliminates provisions in the Patient Protection and Affordable Care Act that restrict the individuals who may purchase catastrophic health plans. (Under current law, the plans are limited to individuals who are younger than 30 years of age or who have a hardship exemption.)
What's happening now
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Committees of jurisdiction
2