Bill > S2621

This bill, the Personalized Care Act of 2023, aims to expand and improve Health Savings Accounts (HSAs). It does this by: 1) Expanding HSA eligibility to a broader range of health plans, insurance, and government programs; 2) Increasing the annual contribution limits for HSAs; 3) Allowing HSA funds to be used for a wider range of health-related expenses, including periodic provider fees and health care sharing ministry contributions; and 4) Reducing the penalty for non-qualified HSA distributions. The bill also specifies that health care sharing ministries will not be treated as health insurance for tax purposes. Overall, the bill seeks to provide individuals with more flexibility and control over their healthcare spending and savings.