Promoting Health for Future Generations Act of 2014 - Amends the Internal Revenue Code, with respect to health savings accounts (HSAs), to: (1) increase the contribution limitation for such accounts, (2) allow Medicare beneficiaries and participants in health care programs administered by the Veterans Administration (VA) to enroll in and contribute to such accounts, and (3) allow adult children of deceased holders of Archer Medical Savings Accounts and HSAs to receive tax-free rollovers of remaining amounts in such accounts.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3871 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 3871
To amend the Internal Revenue Code of 1986 to allow increased
contributions to health savings accounts, to allow Medicare and VA
healthcare participants to contribute to health savings accounts, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 14, 2014
Mr. Boustany introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow increased
contributions to health savings accounts, to allow Medicare and VA
healthcare participants to contribute to health savings accounts, and
for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Promoting Health for Future
Generations Act of 2014''.
SEC. 2. INCREASE IN HSA CONTRIBUTION LIMITATION.
(a) In General.--Subsection (b) of section 223 of the Internal
Revenue Code of 1986 (relating to monthly limitation) is amended--
(1) by striking ``$2,250'' in paragraph (2)(A) and
inserting ``the amount in effect under subsection
(c)(2)(A)(ii)(I)'', and
(2) by striking ``$4,500'' in paragraph (2)(B) and
inserting ``the amount in effect under subsection
(c)(2)(A)(ii)(II)''.
(b) Conforming Amendment.--Paragraph (1) of section 223(g) of such
Code is amended by striking ``subsections (b)(2) and'' and inserting
``subsection''.
(c) Effective Date.--The amendments made by this section shall
apply to contributions for taxable years beginning after December 31,
2014.
SEC. 3. MEDICARE AND VA HEALTHCARE ENROLLEES ELIGIBLE TO CONTRIBUTE TO
HSA.
(a) In General.--
(1) Subsection (b) of section 223 of the Internal Revenue
Code of 1986 is amended by striking paragraph (7) and
redesignating paragraph (8) as paragraph (7).
(2) Subsection (c) of section 223 of such Code (relating to
definitions and special rules) is amended by adding at the end
the following new paragraph:
``(6) Special rule for individuals entitled to benefits
under medicare or enrolled for health benefits from va.--In the
case of an individual--
``(A)(i) who is entitled to benefits under title
XVIII of the Social Security Act, and
``(ii) with respect to whom a health savings
account is established in a month before the first
month such individual is entitled to such benefits, or
``(B)(i) who is enrolled in the patient enrollment
system established by the Secretary of Veterans Affairs
pursuant to section 1705 of title 38, United States
Code, and
``(ii) with respect to whom a health savings
account is established in a month before the first
month such individual is enrolled in such system,
such individual shall be deemed to be an eligible
individual.''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2014.
SEC. 4. ALLOWING MSA AND HSA ROLLOVER TO ADULT CHILD OF ACCOUNT HOLDER.
(a) MSAs.--
(1) Subparagraph (A) of section 220(f)(8) of the Internal
Revenue Code of 1986 (relating to treatment after death of
account holder) is amended--
(A) by inserting ``or adult child'' after
``surviving spouse'',
(B) by inserting ``or adult child, as the case may
be,'' after ``the spouse'', and
(C) by inserting ``or adult child'' after
``spouse'' in the heading thereof.
(2) Paragraph (8) of section 220(f) of such Code is amended
by adding at the end the following new subparagraph:
``(C) Adult child.--For purposes of this paragraph,
the term `adult child' means an individual--
``(i) who is a child of the deceased
individual, and
``(ii) with respect to whom a deduction
under section 151 would not be allowable to
another taxpayer for a taxable year beginning
in the calendar year in which such individual's
taxable year begins.''.
(b) HSAs.--
(1) Subparagraph (A) of section 223(f)(8) of such Code
(relating to treatment after death of account beneficiary) is
amended--
(A) by inserting ``or adult child'' after
``surviving spouse'',
(B) by inserting ``or adult child, as the case may
be,'' after ``the spouse'', and
(C) by inserting ``or adult child'' after
``spouse'' in the heading thereof.
(2) Paragraph (8) of section 223(f) of such Code is amended
by adding at the end the following new subparagraph:
``(C) Adult child.--For purposes of this paragraph,
the term `adult child' has the meaning given to such
term by section 220(f)(8)(C).''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2014.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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