Senate Health Care Bill Includes HSA Expansion

The Senate Budget Committee today released a discussion draft of the Senate health care reform bill, which would repeal many of the Affordable Care Act’s tax provisions, including the “Cadillac tax” on employer health insurance plans, and expand the contributions to and utility of health savings accounts.

Under the bill, HSAs would be able to pay for over-the-counter drugs, which was previously restricted by the ACA. Contributions would expand to the statutory out-of-pocket maximum, currently $6,550 for an individual and $13,100 for a family. For more information, contact ABA’s Kevin McKechnie.

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