Health Savings Account Availability Act

Bill: 108-hr-2351
Sponsor: Rep. Thomas, William M. [R-CA-22]
Introduced: 2003-06-05 in the House
Policy area: Taxation
Subjects: Coinsurance
Commerce
Cost of living adjustments
Disabled
Economics and Public Finance
Employee health benefits
Finance and Financial Sector
Flexible benefit plans
Government Operations and Politics
Government paperwork
Health
Health insurance
Income tax
Indexing (Economic policy)
Insurance premiums
Labor and Employment
Medical economics
Medical savings accounts
Medicare
Payroll deductions
Preferred provider organizations (Medical care)
Preventive medicine
Social Welfare
Tax deductions
Tax exclusion
Tax penalties
Tax returns
Wages
Withholding tax

Summary:
action_date: 2003-06-05
text: Health Savings Account Availability Act - Amends the Internal Revenue Code to allow a deduction to individuals (both itemizers and nonitemizers) in high deductible health plans for contributions to health savings accounts. Limits monthly contributions to an account to one-twelfth of the annual deductible. Defines a high deductible plan and a health savings account.
States that a plan or other arrangement shall not fail to be treated as a cafeteria plan solely because qualified benefits under such plan include a health flexible spending arrangement under which not more than $500 of unused health benefits may be: (1) carried forward to the succeeding plan year of such health flexible spending arrangement; or (2) contributed on behalf of an employee to a qualified retirement plan, an eligible deferred compensation plan, or a health savings account.
action_date: 2003-06-25
text: Health Savings Account Availability Act - (Sec. 2) Amends the Internal Revenue Code to allow a limited deduction (to both itemizers and nonitemizers) for contributions to health savings accounts (accounts for medical expenses for anyone, except those with an individual deductible under $500 or $1,000 for a family). Provides for cost-of-living adjustments to such amounts. Exempts such accounts, and distributions from such accounts, from taxation.
Subjects employers making contributions to such accounts to an excise tax, if they do not make comparable contributions on behalf of all employees.
(Sec. 3) Allows up to $500 of unused health benefits in cafeteria plans and flexible spending arrangements to be carried forward to the next year, contributed to a health savings account, or contributed to a qualified retirement plan.
(Sec. 4) Exempts flexible spending arrangements and health reimbursement arrangements treated as employer-provided coverage from information reporting requirements related to certain health arrangements.

Legislative actions:
action_date: 2003-06-25
text: Placed on the Union Calendar, Calendar No. 89.
action_date: 2003-06-25
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 108-177.
action_date: 2003-06-25
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 108-177.
action_date: 2003-06-19
text: Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 16.
action_date: 2003-06-19
text: Committee Consideration and Mark-up Session Held.
action_date: 2003-06-05
text: Referred to the House Committee on Ways and Means.
action_date: 2003-06-05
text: Introduced in House
action_date: 2003-06-05
text: Introduced in House