Bill > S1158

This bill, the Health Savings Act of 2023, aims to improve access to healthcare through expanded health savings accounts (HSAs). Key provisions include: - Renaming "high deductible health plans" as "HSA-qualified health plans" to provide clearer terminology. - Allowing both spouses to make catch-up contributions to the same HSA account. - Expanding eligibility for HSAs to individuals covered by the Indian Health Service, health care sharing ministries, direct primary care arrangements, and on-site medical clinics. - Permitting the use of HSA funds to purchase health insurance, including Medicare (excluding Medicare supplemental policies). - Providing special rules for certain medical expenses incurred before establishing an HSA and clarifying the use of preventive care drugs. - Enhancing the interaction between HSAs, flexible spending arrangements (FSAs), and health reimbursement arrangements (HRAs). - Increasing the maximum contribution limit to HSAs to match the deductible and out-of-pocket limitation. - Treating certain exercise equipment, physical fitness programs, nutritional and dietary supplements, and periodic provider fees as qualified medical expenses. Overall, the bill aims to expand access to and utilization of tax-preferred health accounts like HSAs to improve healthcare affordability and coverage.