Catch Up Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Catch Up Act, modifies the Internal Revenue Code to allow both spouses in a marriage to contribute to the same Health Savings Account (HSA). Specifically, it adjusts how catch-up contributions are calculated for married couples with family health coverage, potentially increasing the amount each spouse can contribute. The changes will take effect starting in 2026.
Key provisions
- Allows both spouses in a marriage to contribute to the same Health Savings Account (HSA).
- Modifies the calculation of catch-up contributions for married couples with family health coverage.
- Reduces the limitation on catch-up contributions by the aggregate amount paid to Archer MSAs by both spouses.
- Divides any remaining limitation equally between spouses unless they agree otherwise.
- Allows additional contribution amounts to be considered for both spouses if both are age 55 or older.
Who is affected
- Married couples
- Individuals with family health coverage under a high deductible health plan
- Health Savings Account (HSA) holders
Notable changes
- Previously, only one spouse could contribute to the same HSA.
- The bill changes how catch-up contributions are calculated for married couples.
- The effective date is December 31, 2025.
Bill text
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