Health Plan Promotion Act of 1986

Summary

Health Plan Promotion Act of 1986 - Amends the Internal Revenue Code to require the inclusion in gross income of contributions by an employer to accident and health plans for compensation to employees for personal injuries and sickness. Permits individuals to claim a nonitemized deduction for the cost of their accident and health insurance to the extent such costs do not exceed specified levels. Permits such deduction whether such costs are paid by the taxpayer or the taxpayer's employer. Establishes the maximum amount of the deduction as follows: (1) $75 per month for an individual; (2) $175 per month for an individual and the individual's spouse; and (3) $225 per month for an individual's spouse; and (3) $225 per month for an individual and the individual's family. Provides for a cost-of-living adjustment in such amounts. Provides that amounts paid for accident and health insurance in excess of the monthly limits would be allowable as deductible medical expenses. Raises the threshold for the medical expense deduction from five percent of adjusted gross income to ten percent of adjusted gross income.

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

1 official file

• Introduced in Senate

  summary · EN · 21 May 1986

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.