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Increased Contribution Limits for Health Savings Accounts (HSAs)

This bill aims to increase the maximum amounts citizens can contribute to their Health Savings Accounts (HSAs). This means individuals with HSAs will be able to save more money for medical expenses, potentially leading to financial benefits and greater flexibility in managing healthcare costs. The changes will apply to taxable years beginning after December 31, 2023.
Key points
Increased contribution limits for Health Savings Accounts (HSAs) for both self-only and family coverage.
New limits will match the deductible and out-of-pocket maximums, potentially allowing for greater healthcare savings.
Changes will take effect for taxable years starting after December 31, 2023, offering more flexibility in health financial planning.
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Additional Information
Elevating HSA Limits Act of 2023
Print number: HR 5737
Sponsor: Rep. Van Duyne, Beth [R-TX-24]
Process start date: 2023-09-26