| • |
Increases the tax deduction for contributions to health savings accounts (HSAs), including a new tax deduction for high deductible health plan premiums; |
| • |
Allows Medicare and veterans health care beneficiaries to establish and contribute to HSAs; |
| • |
Allows individuals age 50 or older (currently, age 55 or older) to make additional HSA contributions and to increase the allowable amount of such contributions; |
| • |
Treats Medicare supplemental insurance premiums as a tax deductible medical expense; |
| • |
Allows individual contributions to a Medicare Advantage medical savings account (MSA), and allow such MSA funds to be used for wellness and fitness programs; |
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Allows adult children of holders of HSAs and MSAs to inherit such accounts. |
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CAHC Position
The HSA provisions
of this legislation will create more responsible health
care consumers and increase the long-term savings of millions
of Americans.
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