Senior Health Planning Account Act This bill allows tax-exempt senior health planning accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the health care expenses of the account beneficiary or the account beneficiary's spouse.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Health.
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Health.
Taxation
AgingHealth care costs and insuranceIncome tax exclusionLife, casualty, property insuranceMarriage and family status
Senior Health Planning Account Act
USA116th CongressHR-5958| House
| Updated: 2/25/2020
Senior Health Planning Account Act This bill allows tax-exempt senior health planning accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the health care expenses of the account beneficiary or the account beneficiary's spouse.