H.R. 5690 · 118th Congress
Advancing Health Savings Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MooreSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill excludes from taxable income any distributions from a health savings account (HSA) used to pay qualified medical expenses incurred before the HSA is established if the HSA is established within 60 days from the first day of coverage under a high-deductible health plan (HDHP).
What it does: CRS summary · Introduced in House · Sep 26, 2023
Advancing Health Savings Act of 2023
This bill excludes from taxable income any distributions from a health savings account (HSA) used to pay qualified medical expenses incurred before the HSA is established if the HSA is established within 60 days from the first day of coverage under a high-deductible health plan (HDHP).
Under current law, distributions from an HSA established in connection with a HDHP are excluded from taxable income if used to pay qualified medical expenses incurred on or after the date that the HSA is established. However, under current law, HSA distributions are taxable if used to pay otherwise qualified medical expenses incurred after enrolling in an HDHP but before establishing an HSA.
Under the bill, an HSA that is established within 60 days of the first day of coverage under an HDHP is treated as being established on the first date that coverage begins under the HDHP.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Advancing Health Savings Act of 2023
Latest action (Dec 17, 2024): Referred to the Subcommittee on Health.
Policy area: Taxation · Origin: House · Introduced: Sep 26, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.