American Future Healthcare Act of 2016

American Future Healthcare Act of 2016

This bill amends the Internal Revenue Code, with respect to health savings accounts (HSAs), to:

• repeal the requirement that an individual making a tax deductible contribution to an HSA be covered by a high deductible health care plan;
• increase the maximum HSA contribution level;
• allow Medicare eligible individuals to contribute to an HSA;
• allow HSAs to be used to purchase health insurance;
• provide a cost-of-living adjustment for the limits on additional contributions for individuals 55 or older (catch-up contributions);
• require the cost-of-living adjustments to be indexed to the CPI medical care component (the medical care component for the Consumer Price Index for All Urban Consumers published by the Department of Labor); and
• allow a rollover of HSA amounts to a Medicare Advantage Medical Savings Account (MSA).