To amend the Internal Revenue Code of 1986 to increase participation in medical flexible spending arrangements.
Health Flexible Spending Arrangements Improvements Act of 2012 - Amends the Internal Revenue Code to allow a distribution to a participant in a flexible spending arrangement (FSA) of FSA funds not used to reimburse medical expenses by the end of the plan year (currently, unspent funds must be forfeited). Limits the amount of such distribution to the lesser of: (1) $500; or (2) the excess of the salary reduction contributions to the FSA, over reimbursements for medical expenses for the plan year. Includes such distributions in the gross income of the FSA participant for income and employment tax purposes.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Health.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 6.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 112-515.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 112-515.
Placed on the Union Calendar, Calendar No. 363.
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