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H.R. 2812 (114th): Tax Free Health Insurance Act of 2015

The text of the bill below is as of Jun 17, 2015 (Introduced).

Source: GPO

I

114th CONGRESS

1st Session

H. R. 2812

IN THE HOUSE OF REPRESENTATIVES

June 17, 2015

(for himself, Mr. Duncan of South Carolina, Mr. Fleming, Mr. Gohmert, Mr. Yoho, Mr. Wilson of South Carolina, Mr. LaMalfa, Mr. Babin, Mr. Weber of Texas, Mr. Pittenger, Mr. Franks of Arizona, Mr. Carter of Georgia, Mr. Huelskamp, Mr. Hultgren, Mr. Issa, Mr. Cole, Mr. Burgess, Mr. DesJarlais, Mr. Brooks of Alabama, Mr. Ribble, Mr. Gibbs, Mr. Rouzer, and Mrs. Blackburn) 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 a deduction for premiums for insurance which constitutes medical care.

1.

Short title

This Act may be cited as the Tax Free Health Insurance Act of 2015.

2.

Deduction for premiums for health insurance

(a)

In general

Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:

224.

Deduction for premiums for health insurance

In the case of an individual, there shall be allowed as a deduction to the taxpayer for the taxable year amounts paid by the taxpayer for insurance which constitutes medical care (as defined in section 213(d)) for the taxpayer and the taxpayer’s spouse and dependents. No amount shall be taken into account under the preceding sentence if a deduction or credit is allowed for such amount under this chapter or to any other taxpayer.

.

(b)

Deduction allowed whether or not individual itemizes other deductions

Subsection (a) of section 62 of such Code is amended by inserting before the last sentence at the end the following new paragraph:

(22)

Deduction for premiums for health insurance

The deduction allowed by section 224.

.

(c)

Clerical amendment

The table of sections for part VII of subchapter B of chapter 1 of such Code is amended by striking the item relating to section 224 and adding at the end the following new items:

Sec. 224. Deduction for premiums for health insurance.

Sec. 225. Cross reference.

.

(d)

Effective date

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