HSA Modernization Act

Summary

HSA Modernization Act This bill increases health savings account (HSA) contribution limits, expands HSA eligibility, and makes other changes to HSAs and high-deductible health plans (HDHP). The bill increases HSA contribution limits to equal the limits on out-of-pocket expenses under an HDHP (adjusted annually). Under the bill, the maximum annual HSA contribution for 2025 is $8,300 for self-only coverage and $16,600 for family coverage. (Under current law, the maximum annual HSA contribution for 2025 is $4,300 for self-only coverage and $8,550 for family coverage.) The bill expands eligibility to make tax-deductible HSA contributions to include individuals who receive hospital care or medical services from the Department of Veterans Affairs and do not have a service-connected disability, receive hospital care or medical services provided by the Indian Health Service or a tribal organization, are at least 65 years old and enrolled in Medicare Part A, or have a bronze-level or catastrophic health insurance plan through a health insurance exchange. The bill also allows eligible married individuals to make catch-up contributions to the same HSA. Under the bill, HSA distributions may be used to pay for qualified medical expenses incurred before the HSA is established if the HSA is established within 60 days from the first day of coverage under an HDHP. Further, the bill specifies that HSA distributions may be used to pay for expenses for qualified long-term care services. Finally, the bill allows an HDHP to provide up to $500 of mental health benefits before the annual deductible is met.

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Timeline

1. 16 January 2025

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 16 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

2 official files

• Introduced in House

  Introduced in House · EN · 16 January 2025

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 January 2025

  Open at official source

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Sponsors

• Rep. Van Duyne, Beth [R-TX-24] · R · Sponsor
• Rep. Crenshaw, Dan [R-TX-2] · R · Sponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Sponsor
• Rep. Wittman, Robert J. [R-VA-1] · R · Cosponsor
• Rep. Bacon, Don [R-NE-2] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → Native American Health Savings Improvement Act
• related to ← Catch Up Act
• related to ← Hardworking Seniors Act