To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.
1/31/2025, 4:17 PMSummary of Bill HR 111
Bill 119 HR 111, also known as the Health Insurance Premium Deduction Act, aims to make a change to the Internal Revenue Code of 1986. The bill proposes to allow individuals to take an above-the-line deduction for health insurance premiums. This means that individuals would be able to deduct their health insurance premiums from their taxable income before calculating their adjusted gross income.The purpose of this bill is to provide individuals with a tax benefit for purchasing health insurance. By allowing for an above-the-line deduction, more individuals may be incentivized to purchase health insurance, which can lead to increased access to healthcare services and better health outcomes for the population.
If passed, this bill would have a direct impact on individuals who purchase health insurance on their own, rather than through an employer-sponsored plan. It would provide them with a tax break and potentially make health insurance more affordable for those who are currently uninsured or underinsured. Overall, the Health Insurance Premium Deduction Act aims to promote access to healthcare and make health insurance more affordable for individuals. It is a non-partisan effort to address the rising costs of healthcare and ensure that more Americans have access to the care they need.
Congressional Summary of HR 111
This bill provides a tax deduction for health insurance premiums paid to provide medical insurance coverage for an individual, the individual’s spouse, and the individual’s dependents. Under the bill, the tax deduction may be claimed as an adjustment to income (also known as an above-the-line tax deduction), which does not require the individual to itemize deductions.
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Current Status of Bill HR 111
Bill HR 111 is currently in the status of Bill Introduced since January 3, 2025. Bill HR 111 was introduced during Congress 119 and was introduced to the House on January 3, 2025. Bill HR 111's most recent activity was Referred to the House Committee on Ways and Means. as of January 3, 2025Bipartisan Support of Bill HR 111
Total Number of Sponsors
7Democrat Sponsors
0Republican Sponsors
7Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 111
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 111
To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.Comments
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Sponsors and Cosponsors of HR 111
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