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Expanding and Improving Health Savings Accounts (HSAs)

This act aims to make Health Savings Accounts (HSAs) more accessible by broadening eligibility and increasing contribution limits. Citizens will have greater flexibility in funding their medical expenses, including health plan premiums, direct medical services, and health care sharing ministry fees.
Key points
More individuals will be eligible for HSAs, regardless of whether they have a high-deductible health plan.
Annual contribution limits to HSAs will significantly increase, allowing for greater health savings.
HSA funds can be used to pay for health plan premiums, insurance, and health care sharing ministry fees.
Periodic fees for medical services from physicians and health care sharing ministry fees will be considered qualified medical expenses.
The penalty for non-qualified HSA distributions will be reduced from 20% to 10%.
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Expired
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Additional Information
Print number: 118_HR_4803
Sponsor: Rep. Roy, Chip [R-TX-21]
Process start date: 2023-07-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Personalized Care Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4803.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-20.

What are the main provisions?

Key points include:

  • More individuals will be eligible for HSAs, regardless of whether they have a high-deductible health plan.
  • Annual contribution limits to HSAs will significantly increase, allowing for greater health savings.
  • HSA funds can be used to pay for health plan premiums, insurance, and health care sharing ministry fees.
  • Periodic fees for medical services from physicians and health care sharing ministry fees will be considered qualified medical expenses.
  • The penalty for non-qualified HSA distributions will be reduced from 20% to 10%.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Roy, Chip [R-TX-21].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Health.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Health Taxes