Expanded HSA access for veterans and removal of HDHP requirement
This bill expands access to Health Savings Accounts (HSAs) for veterans by removing the requirement of a service-connected disability. It eliminates the need for individuals to have a High Deductible Health Plan (HDHP) to contribute to an HSA and raises the annual contribution limit to $9,000. It also allows tax-free distributions from HSAs during periods of qualified caregiving (as defined by the FMLA).
Key points
Veterans discharged under conditions other than dishonorable can contribute to an HSA regardless of whether they have a service-connected disability.
The requirement to be enrolled in a High Deductible Health Plan (HDHP) to open and contribute to an HSA is eliminated.
The maximum annual contribution limit for HSAs is increased to $9,000 ($18,000 for joint returns).
HSA funds can be withdrawn without being included in gross income during periods of qualified caregiving (as defined by the FMLA).
Status:
Introduced
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