Advancing Health Savings Act of 2023

Summary

Advancing Health Savings Act of 2023 This bill excludes from taxable income any distributions from a health savings account (HSA) used to pay qualified medical expenses incurred before the HSA is established if the HSA is established within 60 days from the first day of coverage under a high-deductible health plan (HDHP). Under current law, distributions from an HSA established in connection with a HDHP are excluded from taxable income if used to pay qualified medical expenses incurred on or after the date that the HSA is established. However, under current law, HSA distributions are taxable if used to pay otherwise qualified medical expenses incurred after enrolling in an HDHP but before establishing an HSA. Under the bill, an HSA that is established within 60 days of the first day of coverage under an HDHP is treated as being established on the first date that coverage begins under the HDHP. 

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 September 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 September 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 September 2023

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.