Increased Health Savings: New Rules for HSA Accounts
This act raises contribution limits for Health Savings Accounts (HSAs) and removes the requirement to have a high-deductible health plan. This means more people can use these accounts and pay for medications and menstrual products, potentially easing financial burdens on daily health expenses.
Key points
Increased annual HSA contribution limits: up to $6,000 for individuals and up to $16,000 for families.
No longer required to have a high-deductible health plan (HDHP) to open and use an HSA, broadening access to these accounts.
Ability to pay for medicines, menstrual products, and long-term care expenses for parents using HSA funds, expanding the scope of qualified expenses.
Expired
Citizen Poll