Personalized Care Act of 2023

Personalized Care Act of 2023

This bill revises provisions relating to health savings accounts (HSAs), including to

• redefine eligible individual for HSA purposes to allow increased participation in HSAs,
• increase the limit on contributions to HSAs,
• permit the payment of health insurance premiums from HSAs,
• include within the definition of qualified medical expenses periodic fees paid for medical services and amounts paid by a member of a health care sharing ministry,
• treat periodic provider fees as deductible medical expenses, and
• lower the 20% penalty for nonqualified distributions from HSAs to 10%.