Health Savings Accounts For All Act of 2024

senate

house

president

Legislation Details

Amends the Internal Revenue Code of 1986 to increase contribution limits for health savings accounts (HSAs).
Introduces additional contribution limits for individuals aged 50 and older.
Removes certain existing paragraphs related to contribution limitations.
Allows for contributions to HSAs for amounts paid for primary care services under specific arrangements.
Expands the definition of qualified medical expenses to include certain expenses incurred before the establishment of an HSA.
Permits corrections of administrative errors related to HSA contributions before the due date of tax returns.
Allows HSAs to be rolled over to a child, parent, or grandparent of the account holder.
Expands qualified expenses to include vitamins, dietary supplements, gym memberships, and wearable fitness trackers.
Provides equivalent bankruptcy protections for HSAs as those for individual retirement accounts (IRAs).
Effective dates for various provisions are set for taxable years beginning after the enactment of the Act.

Amends the Internal Revenue Code of 1986 to increase contribution limits for health savings accounts (HSAs).
Introduces additional contribution limits for individuals aged 50 and older.
Removes certain existing paragraphs related to contribution limitations.
Allows for contributions to HSAs for amounts paid for primary care services under specific arrangements.
Expands the definition of qualified medical expenses to include certain expenses incurred before the establishment of an HSA.
Permits corrections of administrative errors related to HSA contributions before the due date of tax returns.
Allows HSAs to be rolled over to a child, parent, or grandparent of the account holder.
Expands qualified expenses to include vitamins, dietary supplements, gym memberships, and wearable fitness trackers.
Provides equivalent bankruptcy protections for HSAs as those for individual retirement accounts (IRAs).
Effective dates for various provisions are set for taxable years beginning after the enactment of the Act.