HR 6286
Health Savings Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Health Savings Act of 2020 aims to expand the benefits and flexibility of Health Savings Accounts (HSAs). It allows for additional tax deductions for contributions to HSAs for children and grandchildren, enables rollovers of HSA funds to family members, increases the maximum contribution limit to match deductible and out-of-pocket healthcare costs, and provides similar bankruptcy protections for HSAs as are afforded to retirement accounts. Furthermore, the bill expands the types of health plans eligible for HSA compatibility to include bronze and silver plans offered through health insurance exchanges.
Sponsors
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Primary sponsor
Michael C. Burgess
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