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H.R. 1547 (114th): Family Health Care Flexibility Act

The text of the bill below is as of Mar 23, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 1547

IN THE HOUSE OF REPRESENTATIVES

March 23, 2015

(for himself, Mrs. Mimi Walters of California, Mr. Jones, Mrs. Blackburn, Mr. Womack, Mr. Harper, Mr. Lamborn, Mr. Gosar, Mr. Joyce, Mr. Sessions, Mr. Yoder, and Mr. Roe of Tennessee) 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 repeal certain limitations on health care benefits enacted as part of the Patient Protection and Affordable Care Act.

1.

Short title

This Act may be cited as the Family Health Care Flexibility Act.

2.

Repeal of distributions for medicine qualified only if for prescribed drug or insulin

(a)

HSAs

Subparagraph (A) of section 223(d)(2) of the Internal Revenue Code of 1986 is amended by striking the last sentence.

(b)

Archer MSAs

Subparagraph (A) of section 220(d)(2) of the Internal Revenue Code of 1986 is amended by striking the last sentence.

(c)

Health flexible spending arrangements and health reimbursement arrangements

Section 106 of the Internal Revenue Code of 1986 is amended by striking subsection (f).

(d)

Effective dates

(1)

Distributions from savings accounts

The amendments made by subsections (a) and (b) shall apply to amounts paid with respect to taxable years beginning after December 31, 2015.

(2)

Reimbursements

The amendment made by subsection (c) shall apply to expenses incurred with respect to taxable years beginning after December 31, 2015.

3.

Repeal of limitation on health flexible spending arrangements under cafeteria plans

(a)

In general

Section 125 of the Internal Revenue Code of 1986 is amended—

(1)

by striking subsection (i), and

(2)

by redesignating subsections (j), (k), and (l) as subsections (i), (j), and (k), respectively.

(b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2015.