Hardworking Seniors Act

This bill, known as the "Hardworking Seniors Act," proposes significant amendments to the Internal Revenue Code of 1986, primarily to expand eligibility for Health Savings Account (HSA) contributions. Its core purpose is to permit individuals who are entitled to Medicare Part A due to age to make contributions to HSAs, a practice currently restricted. The legislation modifies several sections of the Code, including those defining eligible individuals and coordinating with rules regarding health insurance purchased from an account. These changes aim to provide greater financial flexibility for seniors to manage their healthcare costs by allowing them to utilize HSAs. The bill also includes a conforming amendment and clarifies the application of penalties for non-qualified distributions for eligible individuals. The amendments made by this Act are slated to apply to months beginning after December 31, 2026 .