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Health Savings Accounts For All Act of 2022

USA117th CongressS-5302| Senate 
| Updated: 12/20/2022
Rand Paul

Rand Paul

Republican Senator

Kentucky

Cosponsors (1)
Cynthia M. Lummis (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Health Savings Accounts For All Act of 2022 This bill revises provisions relating to health savings accounts (HSAs). Specifically, the bill increases the annual limitation on tax-deductible contributions to HSAs by plan participants and their employers; eliminates the requirement that an HSA participant must be enrolled in a high deductible health plan as a condition of eligibility; allows payments from HSAs for health insurance premiums and primary care service arrangements; allows payment of medical expenses incurred prior to the establishment of an HSA and correction of administrative errors prior to the due date of an applicable tax return; allows a tax-free rollover of amounts in an HSA, upon the death of an account holder, to the account holder's child, parent, or grandparent; allows payments from HSAs for vitamins, dietary supplements, gym membership, and wearable fitness trackers; and extends bankruptcy protections to HSAs on the same basis as tax-preferred retirement plans.
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Timeline

Bill from Previous Congress

S 116-4367
Health Savings Accounts For All Act of 2020
Dec 20, 2022
Introduced in Senate
Dec 20, 2022
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-4367
    Health Savings Accounts For All Act of 2020


  • December 20, 2022
    Introduced in Senate


  • December 20, 2022
    Read twice and referred to the Committee on Finance.

Taxation

Health Savings Accounts For All Act of 2022

USA117th CongressS-5302| Senate 
| Updated: 12/20/2022
Health Savings Accounts For All Act of 2022 This bill revises provisions relating to health savings accounts (HSAs). Specifically, the bill increases the annual limitation on tax-deductible contributions to HSAs by plan participants and their employers; eliminates the requirement that an HSA participant must be enrolled in a high deductible health plan as a condition of eligibility; allows payments from HSAs for health insurance premiums and primary care service arrangements; allows payment of medical expenses incurred prior to the establishment of an HSA and correction of administrative errors prior to the due date of an applicable tax return; allows a tax-free rollover of amounts in an HSA, upon the death of an account holder, to the account holder's child, parent, or grandparent; allows payments from HSAs for vitamins, dietary supplements, gym membership, and wearable fitness trackers; and extends bankruptcy protections to HSAs on the same basis as tax-preferred retirement plans.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-4367
Health Savings Accounts For All Act of 2020
Dec 20, 2022
Introduced in Senate
Dec 20, 2022
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-4367
    Health Savings Accounts For All Act of 2020


  • December 20, 2022
    Introduced in Senate


  • December 20, 2022
    Read twice and referred to the Committee on Finance.
Rand Paul

Rand Paul

Republican Senator

Kentucky

Cosponsors (1)
Cynthia M. Lummis (Republican)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted