H.R.2596 - Health Savings and Affordability Act of 2003 108th Congress (2003-2004)
|Sponsor:||Rep. Thomas, William M. [R-CA-22] (Introduced 06/25/2003)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 06/27/2003 Pursuant to the provisions of H. Res. 299, H.R. 2596 is laid on the table. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
|Notes:||For further action, see H.R. 1, which became Public Law 108-173 on 12/8/2003.|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.2596 — 108th Congress (2003-2004)All Information (Except Text)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Passed House without amendment (06/26/2003)
Health Savings and Affordability Act of 2003 - (Sec. 2) Amends the Internal Revenue Code to allow a limited deduction (to both itemizers and nonitemizers) for contributions to health savings security accounts (accounts for medical expenses for anyone, except those with an individual deductible under $500 or $1,000 for a family) and health savings accounts (accounts for medical expenses for those in a high deductible plan, a plan with an individual deductible of $1,000 to $2,250 or $2,000 and $4,500 for a family and with individual out-of-pocket expenses not exceeding $3,000 or $5,500 for a family). Provides for cost-of-living adjustments to such amounts. Exempts such accounts, and distributions from such accounts, from taxation.
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 security or 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.