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To amend the Internal Revenue Code of 1986 to permit expenditures from health savings accounts for gym memberships and costs of home gym equipment, to repeal the requirement that health plan be high deductible, and for other purposes.

2/9/2022, 3:42 AM

Congressional Summary of HR 7242

This bill modifies requirements for health savings accounts (HSAs) to allow payments from such accounts for gym memberships, home gym equipment, and dietary nutritional supplements. It also eliminates the prohibition against Medicare recipients participating in an HSA and the requirement that HSA participants be covered under a high deductible health plan.

Current Status of Bill HR 7242

Bill HR 7242 is currently in the status of Bill Introduced since June 18, 2020. Bill HR 7242 was introduced during Congress 116 and was introduced to the House on June 18, 2020.  Bill HR 7242's most recent activity was Referred to the House Committee on Ways and Means. as of June 18, 2020

Bipartisan Support of Bill HR 7242

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7242

Primary Policy Focus

Taxation

Potential Impact Areas

- Health care costs and insurance
- Income tax exclusion
- Medicare
- Nutrition and diet
- Physical fitness and lifestyle
- Sports and recreation facilities

Alternate Title(s) of Bill HR 7242

To amend the Internal Revenue Code of 1986 to permit expenditures from health savings accounts for gym memberships and costs of home gym equipment, to repeal the requirement that health plan be high deductible, and for other purposes.
To amend the Internal Revenue Code of 1986 to permit expenditures from health savings accounts for gym memberships and costs of home gym equipment, to repeal the requirement that health plan be high deductible, and for other purposes.

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