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To amend the Internal Revenue Code of 1986 to allow individuals entitled to Medicare Part A to make contributions to health savings accounts.

12/19/2024, 9:06 AM

Summary of Bill HR 5709

Bill 118 hr 5709, also known as the "Medicare Part A Health Savings Account Act," aims to amend the Internal Revenue Code of 1986 to allow individuals who are entitled to Medicare Part A to make contributions to health savings accounts (HSAs).

Currently, individuals who are enrolled in Medicare Part A are not eligible to contribute to HSAs, which are tax-advantaged accounts that can be used to pay for qualified medical expenses. This bill seeks to change that by allowing Medicare Part A beneficiaries to contribute to HSAs, providing them with additional flexibility and control over their healthcare expenses.

By allowing Medicare Part A beneficiaries to contribute to HSAs, this bill aims to empower individuals to take more control over their healthcare costs and potentially save money on medical expenses. This could be particularly beneficial for individuals who have high medical expenses or who want to save for future healthcare needs. Overall, the "Medicare Part A Health Savings Account Act" seeks to expand access to HSAs for Medicare Part A beneficiaries, potentially providing them with additional financial resources to help cover their healthcare expenses.

Current Status of Bill HR 5709

Bill HR 5709 is currently in the status of Bill Introduced since September 26, 2023. Bill HR 5709 was introduced during Congress 118 and was introduced to the House on September 26, 2023.  Bill HR 5709's most recent activity was Referred to the Subcommittee on Health. as of December 17, 2024

Bipartisan Support of Bill HR 5709

Total Number of Sponsors
2
Democrat Sponsors
0
Republican Sponsors
2
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5709

Primary Policy Focus

Taxation

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