Expanding Health Savings Account (HSA) Eligibility
This bill amends the Internal Revenue Code to expand access to Health Savings Accounts (HSAs). It replaces the requirement for a high-deductible health plan with a new definition of a "qualified health plan" and increases contribution limits. These changes allow plans that do not have a deductible for specific services, such as primary care, to be eligible for HSAs.
Key points
Individuals may access HSAs through "qualified health plans" rather than requiring "high deductible health plans."
The bill increases the statutory base dollar amounts used to calculate HSA contribution limits.
Health plans without deductibles for services like preventive care, primary care, and prescription drugs will qualify for HSA eligibility.
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