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US HR908

US HR908
Stop Penalizing Working Seniors Act


summary

Introduced
01/30/2019
In Committee
01/30/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 to allow individuals only enrolled in Medicare Part A to contribute to health savings accounts. This bill allows Medicare-eligible individuals who are age 65 or older to contribute to health savings accounts if their entitlement to Medicare benefits is limited to hospital insurance benefits under Medicare Part A.

AI Summary

This bill, the Stop Penalizing Working Seniors Act, amends the Internal Revenue Code to allow individuals who are enrolled only in Medicare Part A (the hospital insurance program) to contribute to Health Savings Accounts (HSAs). The current law prohibits individuals enrolled in any part of Medicare from contributing to HSAs, even if their only Medicare coverage is for hospital benefits under Part A. This bill removes that restriction, enabling Medicare-eligible individuals aged 65 or older, whose sole Medicare entitlement is for Part A coverage, to continue contributing to an HSA. The changes apply to taxable years beginning after December 31, 2018.

Committee Categories

Budget and Finance

Sponsors (6)

Last Action

Referred to the House Committee on Ways and Means. (on 01/30/2019)

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