Congress 108 - HR 2351 - Health Savings Account Availability Act

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Topics

Coinsurance Commerce Cost of living adjustments Disabled Economics and Public Finance Employee health benefits Finance and Financial Sector Flexible benefit plans Government Operations and Politics Government paperwork Health Health insurance Income tax Indexing (Economic policy) Insurance premiums Labor and Employment Medical economics Medical savings accounts Medicare Payroll deductions Preferred provider organizations (Medical care) Preventive medicine Social Welfare Tax deductions Tax exclusion Tax penalties Tax returns Taxation Wages Withholding tax

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Summary

Health Savings Account Availability Act - (Sec. 2) Amends the Internal Revenue Code to allow a limited deduction (to both itemizers and nonitemizers) for contributions to health savings accounts (accounts for medical expenses for anyone, except those with an individual deductible under $500 or $1,000 for a family). Provides for cost-of-living adjustments to such amounts. Exempts such accounts, and distributions from such accounts, from taxation.

Subjects employers making contributions to such accounts to an excise tax, if they do not make comparable contributions on behalf of all employees.

(Sec. 3) Allows up to $500 of unused health benefits in cafeteria plans and flexible spending arrangements to be carried forward to the next year, contributed to a health savings account, or contributed to a qualified retirement plan.

(Sec. 4) Exempts flexible spending arrangements and health reimbursement arrangements treated as employer-provided coverage from information reporting requirements related to certain health arrangements.

Actions

Jun 25, 2003

Placed on the Union Calendar, Calendar No. 89.
Jun 25, 2003

Reported (Amended) by the Committee on Ways and Means. H. Rept. 108-177.
Jun 19, 2003

Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 16.
Jun 19, 2003

Committee Consideration and Mark-up Session Held.
Jun 5, 2003

Referred to the House Committee on Ways and Means.
Jun 5, 2003

Introduced in House

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