Medical Savings Account Expansion Act of 1999

Summary

Medical Savings Account Expansion Act of 1999 - Amends the Internal Revenue Code to repeal: (1) the limitations on the number of taxpayers having medical savings accounts (MSAs); (2) the eligibility requirement that an MSA holder be covered by a high deductible health plan established by the holder's or holder's spouse's small employer, or be a self-employed individual whose high deductible health plan is not established by the self-employed individual or by such individual's spouse's employer; (3) the restriction that a taxpayer's deduction for an MSA contribution not exceed the taxpayer's compensation; and (4) the denial of a taxpayer deduction for contributions to an MSA if the taxpayer's employer's contribution to the MSA is excludable from the employer's gross income. Increases to 100 percent of the annual deductible of an individual's high deductible health plan the amount of annual contributions to an MSA the individual may make (and deduct from gross income). Reduces the high deductible plan minimum annual deductible: (1) from $1,500 to $1,000 for self-only coverage; and (2) from $3,000 to $2,000 for family coverage.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 March 1999

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• Introduced in Senate

  summary · EN · 18 March 1999

  Open at official source

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