The House Ways and Means Committee has approved a package of bills that would expand benefits of health savings accounts (HSAs) and reduce employer health benefit costs.
H.R. 6301, which provides that a plan shall not be fail to be treated as a high deductible health plan (HDHP) by reason of failing to have a deductible for not more than $250 of specified services (twice such amount in the case of family coverage) during a plan year, was ordered favorably reported to the House of Representatives. The term ‘specified services’ means, with respect to a plan, services other than preventive care.
Another bill would let Medicare Part A beneficiaries currently prohibited from contributing to their existing HSAs once they turn 65 to continue to contribute.
Other bills would qualify significantly more health treatments, services and over-the-counter drugs for HSA spending and expand the definition of HDHPs to include Affordable Care Act (ACA) bronze plans and catastrophic plans.
The House also approved H.R. 6317, a bill to amend the Internal Revenue Code of 1986 to provide that direct primary care service arrangements do not disqualify deductible health savings account contributions, and for other purposes.
After a two-day markup session, the committee also moved to the House legislation providing retroactive relief from the ACA’s employer mandate from 2015 through 2018 and delay for one additional year (until 2023) the 40% Cadillac Tax.More about the bills referred to the House can be found here.
« Asset Class Returns Account for Disparity in Public DB Plan Performance Results