Lower Health Insurance Deductibles Act

Bill: 116-s-3439
Sponsor: full_name: Sen. Scott, Rick [R-FL]
Introduced: 2020-03-11
Policy area: Taxation
Latest action: action_date: 2020-03-11
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2020-03-11
action_desc: Introduced in Senate
text: <p><b>Lower Health Insurance Deductibles Act</b></p> <p>This bill modifies eligibility requirements of Health Savings Accounts (HSAs) to allow a high deductible health plan to divide the amount of its deductible between medical and drug costs.</p>

tv_txt: II 116th CONGRESS 2d Session S. 3439 IN THE SENATE OF THE UNITED STATES March 11, 2020 Mr. Scott of Florida (for himself and Ms. Sinema ) 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 permit high deductible health plans to divide the deductible between medical and drug costs for purposes of qualifying for health savings accounts, and for other purposes.

1. Short title This Act may be cited as the Lower Health Insurance Deductibles Act . 2. High deductible health plan deductible and catastrophic coverage flexibility for purposes of HSAs (a) In general Paragraph (2) of section 223(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (E) Division of annual deductible A plan shall not fail to be treated as a high deductible health plan by reason of having separate annual deductibles for medicine or drugs and for other medical care if the sum of such deductibles, if treated as 1 annual deductible, meets the requirements of subparagraph (A). . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.