Health Marketplace and Savings Accounts for All Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Health Marketplace and Savings Accounts for All Act, aims to expand access to healthcare and increase the benefits available through health savings accounts (HSAs). It proposes to raise contribution limits for HSAs, eliminate mandates associated with them, and allow for the inclusion of certain wellness expenses like gym memberships and wearable fitness trackers. Furthermore, it establishes a ‘health marketplace’ for health insurance pools, potentially redefining employer status for those participating in these pools and expanding coverage options.
Key provisions
- Increases HSA contribution limits based on age (50+), aligning them with cost-of-living adjustments.
- Eliminates mandates related to HSA contributions and participation.
- Allows HSA rollovers to children and parents of account holders.
- Permits HSA contributions for qualified wellness expenses, including gym memberships and fitness trackers.
- Establishes a ‘health marketplace’ for health insurance pools, potentially redefining employer status.
- Allows HSA distributions to cover menstrual care products.
- Provides equivalent bankruptcy protections for HSAs as retirement funds.
- Expands HSA coverage to include amounts paid for vitamins and dietary supplements.
Who is affected
- Individuals with health savings accounts
- Employers participating in health marketplace pools
- Health insurance issuers
Bill text
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Sponsors
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1 on record
Primary sponsor
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