Health Savings Account Expansion Act of 2016

Summary

Health Savings Account Expansion Act of 2016 This bill amends the Internal Revenue Code to modify the requirements for health savings accounts (HSAs). The bill modifies the requirements to: increase the maximum contribution amounts, permit the use of HSAs to pay health insurance premiums and direct primary care expenses, repeal the restriction on using HSAs for over-the-counter medications, eliminate the requirement that a participant in an HSA be enrolled in a high deductible health care plan, and decrease the additional tax for HSA distributions not used for qualified medical expenses.

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Timeline

1. 25 May 2016

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 25 May 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 May 2016 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 May 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 May 2016

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 May 2016

  Open at official source

Sponsors

• Sen. Flake, Jeff [R-AZ] · R · Sponsor
• Sen. Vitter, David [R-LA] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Health Savings Account Expansion Act of 2017
• related to → Health Savings Account Expansion Act of 2016