II 

118TH CONGRESS 

2D SESSION S. 4771 

To amend the Internal Revenue Code of 1986 to expand eligibility for health 

savings accounts, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JULY 25, 2024 

Mr. SCOTT of Florida introduced the following bill; which was read twice and 

referred to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to expand 

eligibility for health savings accounts, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Increasing Value for 

5 Families with HSAs Act of 2024’’ or the ‘‘IVF with HSAs 

6 Act of 2024’’. 

7 SEC. 2. HEALTH SAVINGS ACCOUNT ELIGIBILITY. 

8 (a) IN GENERAL.—Paragraph (1) of section 223(c) 

9 of the Internal Revenue Code of 1986 is amended to read 

10 as follows: 


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1 ‘‘(1) ELIGIBLE INDIVIDUAL.—The term ‘eligible 

2 individual’ means, with respect to any month, any 

3 individual if such individual is covered under any 

4 health insurance coverage as of the 1st day of such 

5 month.’’. 

6 (b) CONFORMING AMENDMENTS.— 

7 (1) Subsection (c) of section 223 of the Internal 

8 Revenue Code of 1986 is amended by striking para9 graphs (2) and (3) and by redesignating paragraphs 

10 (4) and (5) as paragraphs (2) and (3), respectively. 

11 (2) Paragraphs (2)(A) and (2)(B) of section 

12 223(b) of such Code are each amended by striking 

13 ‘‘a high deductible health plan’’ and inserting ‘‘any 

14 health insurance coverage’’. 

15 (3) Paragraph (8)(A)(ii) of section 223(b) of 

16 such Code is amended by striking ‘‘high deductible 

17 health plan’’ and inserting ‘‘health insurance cov18 erage’’. 

19 (4) Section 223(g)(1) of such Code is amend20 ed— 

21 (A) by striking ‘‘subsections (b)(2) and 

22 (c)(2)(A)’’ both places it appears and inserting 

23 ‘‘subsection (b)(2)’’, 

24 (B) by striking ‘‘for ‘calendar year 2016’ ’’ 

25 in subparagraph (B) and all that follows 


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1 through ‘‘ ‘calendar year 2003’.’’ and inserting 

2 ‘‘ ‘calendar year 1997’ for ‘calendar year 2016’ 

3 in subparagraph (A)(ii) thereof.’’. 

4 (5) The heading of subparagraph (B) of section 

5 223(b)(8) of such Code is amended by striking 

6 ‘‘HIGH DEDUCTIBLE HEALTH PLAN’’. 

7 (6) Section 26(b)(2)(S) of such Code is amend8 ed by striking ‘‘high deductible health plan’’. 

9 (7) The heading of paragraph (3) of section 

10 106(e) of such Code is amended by striking ‘‘HIGH

11 DEDUCTIBLE HEALTH PLAN’’. 

12 (8) Clause (ii) of section 106(e)(5)(B) of such 

13 Code is amended by striking ‘‘a high deductible 

14 health plan’’ and inserting ‘‘any health insurance 

15 coverage’’. 

16 (9) Paragraph (9) of section 408(d) of such 

17 Code is amended— 

18 (A) by striking ‘‘high deductible health 

19 plan’’ in subparagraph (C)(i)(I) and inserting 

20 ‘‘health insurance’’, 

21 (B) by striking ‘‘coverage under a high de22 ductible health plan’’ both places it appears in 

23 subparagraph (C)(ii)(II) and inserting ‘‘health 

24 insurance coverage’’, and 


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1 (C) by striking ‘‘HIGH DEDUCTIBLE

2 HEALTH PLAN’’ in the heading of subparagraph 

3 (D). 

4 (c) EFFECTIVE DATE.—The amendments made by 

5 this section shall apply to taxable years beginning after 

6 December 31, 2024. 

7 SEC. 3. INCREASE IN HSA CONTRIBUTION LIMITATIONS. 

8 (a) IN GENERAL.—Paragraph (2) of section 223(b) 

9 of the Internal Revenue Code of 1986, as amended by this 

10 Act, is further amended— 

11 (1) by striking ‘‘$2,250’’ in subparagraph (A) 

12 and inserting ‘‘$8,600’’, and 

13 (2) by striking ‘‘$4,500’’ in subparagraph (B) 

14 and inserting ‘‘$17,100’’. 

15 (b) COST-OF-LIVING ADJUSTMENT.—Paragraph (1) 

16 of section 223(g) of the Internal Revenue Code of 1986, 

17 as amended by this Act, is further amended— 

18 (1) by striking ‘‘Each’’ and inserting ‘‘In the 

19 case of a taxable year beginning after 2025, each’’, 

20 and 

21 (2) by striking ‘‘calendar year 1997’’ and in22 serting ‘‘calendar year 2024’’. 


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1 (c) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2024. 

Æ 


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