GovTrack’s Bill Summary
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Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Helping Save Americans' Health Care Choices Act of 2012 - Amends the Patient Protection and Affordable Care Act (PPACA) to repeal:
(1) the 20% penalty for distributions from a health savings account (HSA) or an Archer medical savings account (Archer MSA) not used for qualified medical expenses,
(2) the prohibition on distributions from an HSA for over-the-counter drugs, and
(3) the limitation on health flexible spending arrangements under cafeteria plans.
Allows the treatment of a high deductible health plan as a qualified health plan under PPACA. Amends the Internal Revenue Code to allow:
(1) a retirement savings tax credit for contributions to an HSA,
(2) payment of premiums for high deductible health plans from an HSA,
(3) a tax deduction for medical expenses incurred prior to the establishment of an HSA,
(4) an increase of the HSA maximum allowable contribution amount to match the limit on deductible and out-of-pocket expenses under an HSA,
(5) an exclusion from gross income of employer-provided coverage for qualified long-term care services that is provided through a flexible spending or similar arrangement,
(6) eligibility for veterans with a service-connected disability, participants in Tricare, and certain Medicare beneficiaries for participation in an HSA,
(7) both spouses to make catch-up contributions to the same HSA account, and
(8) a tax deduction for amounts paid by patients to their primary physician in advance for the right to receive medical services on an as-needed basis.
Directs the Secretary of the Treasury, through regulations or other guidance, to encourage administrators of health plans and trustees of HSAs to provide for simultaneous enrollment in high deductible health plans and setup of HSAs.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.