A provision in the bill raises maximum contributions to HSAs tied to high-deductible health care plans to equal the combined annual limit on out-of-pocket and deductible expenses in qualifying plans, which in 2018 is $6,500 for an individual policy and $13,300 for a family plan. (Photo: Shutterstock)

Last week, the U.S. House of Representatives passed a bill that dramatically increases contribution limits to health savings accounts.

The Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act passed on a 242 to 176 vote, with 12 Democrats voting with the majority. Introduced by Rep. Peter Roskam, R-IL in early July, the bill was expedited to the House floor in less than three weeks.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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