H.R.450 - Restoring Assistance for Families' and Seniors' Health Expenses Act of 2011112th Congress (2011-2012)
|Sponsor:||Rep. Reichert, David G. [R-WA-8] (Introduced 01/26/2011)|
|Committees:||House - Ways and Means; Energy and Commerce|
|Latest Action:||House - 02/09/2011 Referred to the Subcommittee on Health. (All Actions)|
This bill has the status Introduced
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Summary: H.R.450 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (01/26/2011)
Restoring Assistance for Families' and Seniors' Health Expenses Act of 2011- Repeals provisions of the Patient Protection and Affordable Care Act (PPACA) that: (1) increase from 7.5% to 10% the adjusted gross income threshold for claiming the tax deduction for medical expenses; (2) restrict payments from health savings accounts, medical savings accounts, and health flexible spending arrangements for medications solely to prescription drugs or insulin; (3) increase to 20% the penalty for distributions from a health savings or Archer medical savings account not used for qualified medical expenses; and (4) limit to $2,500 the annual salary reduction contribution to a health flexible spending arrangement under a cafeteria plan.
Amends PPACA to treat a high deductible health plan as a qualified health plan under such Act.