Protecting Life in Health Savings Accounts Act

Hozzl · 2024-12-19T09:05:51Z

Explore the details of House Bill 8049 Protecting Life in Health Savings Accounts Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/19/2024, 9:05 AM

Summary of Bill HR 8049

Bill 118 hr 8049, also known as the Protecting Life in Health Savings Accounts Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to prohibit the use of funds from Health Savings Accounts (HSAs) to pay for abortions.

The bill states that any funds in an HSA cannot be used to pay for abortion services, except in cases of rape, incest, or if the life of the mother is in danger. This restriction applies to both individual HSAs and employer-sponsored HSAs.

The bill also includes provisions to ensure that individuals are aware of these restrictions when opening or contributing to an HSA. It requires that HSA trustees provide written notice to account holders about the limitations on using HSA funds for abortion services. Overall, the Protecting Life in Health Savings Accounts Act aims to uphold the sanctity of life by preventing the use of HSA funds for abortion services, except in certain circumstances. It seeks to ensure that individuals are informed about these restrictions and comply with the regulations outlined in the bill.

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Current Status of Bill HR 8049

Bill HR 8049 is currently in the status of Bill Introduced since April 17, 2024. Bill HR 8049 was introduced during Congress 118 and was introduced to the House on April 17, 2024. Bill HR 8049's most recent activity was Referred to the Subcommittee on Health. as of December 17, 2024

Bipartisan Support of Bill HR 8049

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 8049

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 8049

Protecting Life in Health Savings Accounts ActProtecting Life in Health Savings Accounts ActTo amend the Internal Revenue Code of 1986 to prohibit treatment of certain distributions and reimbursements for certain abortions as qualified medical expenses.

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