Menu
Tax Notes logo

S. 3439 - Lower Health Insurance Deductibles Act

MAR. 11, 2020

S. 3439; Lower Health Insurance Deductibles Act

DATED MAR. 11, 2020
DOCUMENT ATTRIBUTES
  • Authors
    Scott, Sen. Rick
  • Institutional Authors
    U.S. Senate
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Health care
    Insurance
  • Jurisdictions
  • Tax Analysts Document Number
    2020-11314
  • Tax Analysts Electronic Citation
    2020 TNTF 59-11
Citations: S. 3439; Lower Health Insurance Deductibles Act

116TH CONGRESS
2D SESSION

S. 3439

To amend the Internal Revenue Code of 1986 to permit high deductible
health plans to divide the deductible between medical and drug costs for purposes
of qualifying for health savings accounts, and for other purposes.

IN THE SENATE OF THE UNITED STATES

MARCH 11, 2020

Mr. SCOTT of Florida (for himself and Ms. SINEMA) introduced the following bill;
which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to permit high deductible health plans to divide the deductible between medical and drug costs for purposes of qualifying for 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 "Lower Health Insurance Deductibles Act".

SEC. 2. HIGH DEDUCTIBLE HEALTH PLAN DEDUCTIBLE AND CATASTROPHIC COVERAGE FLEXIBILITY FOR PURPOSES OF HSAS.

(a) IN GENERAL. — Paragraph (2) of section 223(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

"(E) DIVISION OF ANNUAL DEDUCTIBLE. — A plan shall not fail to be treated as a high deductible health plan by reason of having separate annual deductibles for medicine or drugs and for other medical care if the sum of such deductibles, if treated as 1 annual deductible, meets the requirements of subparagraph (A).".

(b) EFFECTIVE DATE. — The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

DOCUMENT ATTRIBUTES
  • Authors
    Scott, Sen. Rick
  • Institutional Authors
    U.S. Senate
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Health care
    Insurance
  • Jurisdictions
  • Tax Analysts Document Number
    2020-11314
  • Tax Analysts Electronic Citation
    2020 TNTF 59-11
Copy RID