HR 725
117th Congress
House
Taxation
Bank accounts, deposits, capital
Health care costs and insurance
Income tax deductions
Religion
Personalized Care Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 2021
Referred to the House Committee on Ways and Means.
Feb 2, 2021
Introduced in House
Plain-English summary
Personalized Care Act of 2021
This bill revises provisions relating to health savings accounts (HSAs), including to
- redefine eligible individual for HSA purposes to allow increased participation in HSAs,
- increase the limit on contributions to HSAs,
- permit the payment of health insurance premiums from HSAs,
- include within the definition of qualified medical expenses periodic fees paid for medical services and amounts paid by a member of a health care sharing ministry,
- treat periodic provider fees as deductible medical expenses, and
- lower the 20% penalty for nonqualified distributions from HSAs to 10%.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1