The bill S. 5297, titled the “Health Savings Accounts For All Act of 2024,” proposes amendments to the Internal Revenue Code of 1986 to raise the contribution limits for health savings accounts (HSAs). It introduces additional contributions for individuals aged 50 and older,...
Simple Explanation
The bill wants to let people save more money in their Health Savings Accounts for medical bills and adds some extra things they can spend this money on, like vitamins and gym memberships. It also makes it easier to fix money mistakes and lets families pass these accounts to their kids or parents if needed.