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US HR1204

US HR1204
Responsible Additions and Increases to Sustain Employee Health Benefits Act of 2017


summary

Introduced
02/17/2017
In Committee
02/17/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Responsible Additions and Increases to Sustain Employee Health Benefits Act of 2017 This bill amends the Internal Revenue Code, with respect to the tax exclusion for distributions from health flexible spending arrangements provided under a cafeteria plan, to: (1) increase the annual limit on employee salary reduction contributions to $5,000, with an additional $500 for each additional employee dependent above two dependents that has not been taken into account by another person for the year; (2) revise the adjustment for inflation after 2017; and (3) allow a carryforward into the next year for unused amounts in such plans.

AI Summary

This bill amends the Internal Revenue Code to: 1) Increase the annual limit on employee contributions to health flexible spending arrangements (FSAs) under a cafeteria plan from $2,500 to $5,000, with an additional $500 for each additional employee dependent above two dependents (as long as the dependent has not been counted by another person). 2) Revise the inflation adjustment for the FSA contribution limit after 2017. 3) Allow participants to carry forward any unused balances in their FSA accounts to the succeeding year, without including the carried-forward amount in their taxable income. This carryforward does not reduce the maximum contribution limit for the subsequent year. The goal of this bill is to provide more opportunities for Americans to save for their health expenses through expandable and flexible FSAs.

Committee Categories

Budget and Finance

Sponsors (48)

Steve Stivers (R)* Rick Allen (R),  Mark Amodei (R),  Brian Babin (R),  Andy Barr (R),  Joyce Beatty (D),  Marsha Blackburn (R),  Mike Bost (R),  Cheri Bustos (D),  Chris Collins (R),  Barbara Comstock (R),  Ryan Costello (R),  Kevin Cramer (R),  Rodney Davis (R),  Peter DeFazio (D),  Scott DesJarlais (R),  Brian Fitzpatrick (R),  Bill Flores (R),  Vicente Gonzalez (D),  Paul Gosar (R),  Tom Graves (R),  Jared Huffman (D),  Jim Jordan (R),  Dave Joyce (R),  John Katko (R),  Mike Kelly (R),  Derek Kilmer (D),  Bob Latta (R),  Debbie Lesko (R),  Michelle Lujan Grisham (D),  Grace Meng (D),  John Moolenaar (R),  Eleanor Holmes Norton (D),  Stevan Pearce (R),  Chellie Pingree (D),  Bruce Poliquin (R),  Pete Sessions (R),  Bill Shuster (R),  Kyrsten Sinema (I),  Elise Stefanik (R),  Eric Swalwell (D),  Patrick Tiberi (R),  David Trott (R),  Mike Turner (R),  Nydia Velázquez (D),  Ann Wagner (R),  Tim Walberg (R),  Jackie Walorski (R), 

Last Action

Referred to the House Committee on Ways and Means. (on 02/17/2017)

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