Bill > HR4203

This bill, known as the Wearable Equipment Adoption and Reinforcement and Investment in Technology (WEAR IT) Act, amends the Internal Revenue Code to expand the definition of qualified medical expenses for Health Savings Accounts (HSAs), Archer Medical Savings Accounts (MSAs), Health Flexible Spending Arrangements (FSAs), and Health Reimbursement Arrangements (HRAs). Specifically, the bill allows individuals to use these accounts to purchase wearable devices and related software, up to $375 per taxable year, starting January 1, 2026. A "wearable device" is defined as a device or software worn on the body or used in connection with a body-worn device that either collects and analyzes physiological data for medical purposes or assists in diagnosing, treating, mitigating, or preventing a health condition. This legislation aims to make health-tracking technology more financially accessible by enabling people to use pre-tax health spending accounts to purchase these devices, potentially supporting better personal health monitoring and management.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4203/all-info