S 5297
Health Savings Accounts For All Act of 2024
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Bill overview
The Health Savings Accounts For All Act of 2024 seeks to expand access to health savings accounts (HSAs) by increasing contribution limits and modifying certain rules. Specifically, it raises the maximum HSA contribution amounts, provides additional contributions for individuals aged 50 and older, and clarifies the treatment of expenses incurred before establishing an HSA. The bill also removes restrictions on HSA contributions and expands the definition of qualified medical expenses, including wellness expenses. Finally, it aims to provide equivalent bankruptcy protections for HSAs similar to those afforded to retirement funds.
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