Adds a new subparagraph (C) to paragraph (2) of 26 U.S.C. 223(c) providing that certain medical expenses incurred before establishment of a health savings account are treated as qualified expenses if incurred in the taxable year the account is established or in the preceding taxable year under specified timing conditions.

Adds language to paragraph (8)(A) (as redesignated) of section 223 to treat a health savings account as the account of a child who acquires the beneficiary's interest when another taxpayer is allowed a deduction under section 151 for the applicable taxable year.

Adds a new subsection (r) to Section 522 providing that health savings accounts shall be treated the same as individual retirement accounts described in section 408 of the Internal Revenue Code for purposes of Section 522.

Technical amendment to update an internal citation: strikes the reference to 'section 223(d)(2)(D)' and replaces it with 'section 223(c)(2)(B)'.

Technical amendment to update an internal citation in subsection (f): strikes the reference to 'section 223(d)(2)(D)' and replaces it with 'section 223(c)(2)(B)'.

Amends 26 U.S.C. 26(b)(2)(S) by striking specified text.

Amends 26 U.S.C. 408(d)(9)(C)(i)(I) by striking specified text.