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House Passes American Health Care Act

Posted on 5/4/2017

The House has passed H.R. 1628, the American Health Care Act (AHCA) of 2017 by a vote of 217 to 213. Congressman Cramer supported the bill. The AHCA now awaits consideration in the Senate. The current version of the bill includes several health savings account (HAS) provisions:
Delays the Cadillac tax until 2026
Repeals the prescription requirement for over-the-counter medications so withdrawals from HSAs are tax-free again, effective beginning with tax year 2018.
Lowers the tax penalty for non-qualified HSA distributions rate to pre-Obamacare percentages (i.e., 10% from 20%) effective for distributions made after December 31, 2017.
Increases the annual HSA contribution limits to amounts equal to the out-of-pocket maximums set by the IRS for HSA-qualified plans (i.e., $6,550 for singles and $13,100 for families in 2017).
Allows both spouses to make catch-up contributions to one HSA beginning in 2018
Starting in 2018, if an HSA is established during the 60-day period beginning on the date that an individual's coverage under a high deductible health plan begins, then the HSA is treated as having been established on the date coverage under the high deductible

Click to view the Republican summary of the bill

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