H.R.2351 - Health Savings Account Availability Act108th Congress (2003-2004)
|Sponsor:||Rep. Thomas, William M. [R-CA-22] (Introduced 06/05/2003)|
|Committees:||House - Ways and Means|
|Committee Reports:||H. Rept. 108-177|
|Latest Action:||06/25/2003 Placed on the Union Calendar, Calendar No. 89.|
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Summary: H.R.2351 — 108th Congress (2003-2004)All Bill Information (Except Text)
Health Savings Account Availability Act - (Sec. 2) Amends the Internal Revenue Code to allow a limited deduction (to both itemizers and nonitemizers) for contributions to health savings accounts (accounts for medical expenses for anyone, except those with an individual deductible under $500 or $1,000 for a family). Provides for cost-of-living adjustments to such amounts. Exempts such accounts, and distributions from such accounts, from taxation.
Reported to House amended (06/25/2003)
Subjects employers making contributions to such accounts to an excise tax, if they do not make comparable contributions on behalf of all employees.
(Sec. 3) Allows up to $500 of unused health benefits in cafeteria plans and flexible spending arrangements to be carried forward to the next year, contributed to a health savings account, or contributed to a qualified retirement plan.
(Sec. 4) Exempts flexible spending arrangements and health reimbursement arrangements treated as employer-provided coverage from information reporting requirements related to certain health arrangements.