Summary: H.R.1196 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.1196. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/02/2015)

Health Savings Act of 2015

Amends the Internal Revenue Code, with respect to health savings accounts (HSAs), to: (1) allow an additional tax deduction for amounts paid to the HSA of a taxpayer's child or grandchild; (2) allow a rollover of HSA funds to the child, parent, or grandparent of an account holder; (3) increase the maximum HSA contribution limit to match the amount of the deductible and out-of-pocket expenses under a high deductible health plan; and (4) expand the definition of an HSA compatible plan to include bronze, silver, and catastrophic plans on an insurance exchange.

Amends the federal bankruptcy code to treat HSAs in the same manner as individual retirement accounts for purposes of determining exemptions from the bankruptcy estate.