Healthcare Freedom Act: Accounts Available to All Individuals.
This legislation renames Health Savings Accounts (HSAs) to Health Freedom Accounts (HFAs) and makes them accessible to all individuals. It significantly raises annual contribution limits to $12,000 and expands the definition of qualified expenses to include direct primary care and medical cost-sharing organizations. The bill also modifies the tax treatment of employer-provided health coverage for employees hired 5 years after enactment.
Key points
Any individual can contribute to a Health Freedom Account (HFA), as the bill removes the limitation on who is considered an 'eligible individual'.
Annual contribution limits are substantially increased to $12,000 ($24,000 for joint filers).
Funds can be used for a wider range of services, including direct primary care and health care sharing ministries.
Status:
Introduced
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