A new report from HSA Bank highlights 6 improvements on HSAs and consumer-directed health care outlined in the American Health Care Act.
1. Raises HSA contribution limits to the high-deductible health plan (HDHP) out-of-pocket maximum.
2. Repeals the ACA contribution limit on flexible spending accounts (FSAs) (currently $2,600 for 2017)
3. Allows spouses to make catch-up contributions to the same HSA
4. Repeals the prescription requirement for over-the-counter medications as qualified medical expense distributions from HSAs, FSAs, and health reimbursement arrangements (HRAs)
5. Lowers the penalty for non-qualified HSA distributions made prior to age 65 from 20 percent to 10 percent
6. Allows for qualified distributions to reimburse medical expenses incurred within 60 days of HDHP coverage but before HSA account is established
Read more HERE