The Bipartisan HSA Improvement Act (H.R. 5138) would expand access to HSAs by coordinating them with FSAs and permitting qualified distributions to pay for fitness costs (gym membership, home equipment) up to a set dollar amount. For example, contributions would be permitted even if a spouse has an FSA. It would also allow HSAs to offer pre-deductible coverage of health services at onsite employee clinics and retail clinics and pre-deductible coverage for services and medications that manage chronic conditions.
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
Footer
