Bill 118 hr 6857, also known as the Simplify and Expand Health Savings Accounts Act, aims to make changes to the current laws surrounding Health Savings Accounts (HSAs) in the United States.
The bill proposes several key changes to HSAs, including increasing the annual contribution limits for individuals and families, allowing for catch-up contributions for individuals over the age of 55, and expanding the list of eligible medical expenses that can be paid for using HSA funds.
Additionally, the bill seeks to simplify the rules and regulations surrounding HSAs, making it easier for individuals to understand and utilize these accounts for their healthcare needs.
Overall, the Simplify and Expand Health Savings Accounts Act aims to make HSAs more accessible and beneficial for individuals and families, providing them with greater flexibility and control over their healthcare expenses.