United States · Bill · HR
H.R. 195 (117th)
Group Term Life Insurance Increase Act
Introduced
5 January 2021
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
Group Term Life Insurance Increase Act This bill increases the limit on the amount of employer-provided group term life insurance that an employee may exclude from gross income for income tax purposes. Currently, an employee may exclude from gross income up to $50,000 of the cost of such insurance plus any amount paid by the employee for the purchase of such insurance. The bill increases the $50,000 limit to $375,000, and adjusts such increased limit for inflation in taxable years beginning after 2021.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 5 January 2021
Introduced in House (PDF)
Introduced in House · EN · 5 January 2021
Introduced in House
summary · EN · 5 January 2021
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/117th-congress/house-bill/195
- Open data entity: https://api.congress.gov/v3/bill/117/hr/195