Hardworking Seniors Act
Sponsored By: Representative Fischbach, Michelle [R-MN-7]
Introduced
Summary
Expands HSA access for people entitled to Medicare Part A. This bill would let individuals who have Medicare Part A because of age contribute to health savings accounts if they meet the usual high-deductible health plan requirements.
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- Seniors and Medicare beneficiaries: People entitled to Part A because of the Social Security age rule would become eligible to contribute to HSAs while still meeting HDHP rules. This extends HSA access to a subset of age-based Medicare beneficiaries.
- Use of HSA funds for health insurance: For people who have reached the Social Security age threshold, HSA payments for health insurance would count as qualified only when the purchaser is not an “eligible individual” under the tax code. This creates a new condition on when premiums can be paid from HSAs.
- Penalties, cross-reference, and timing: The bill would carve out “eligible individuals” from the standard penalty for non-qualified HSA withdrawals and would fix a Social Security Act cross-reference. The changes apply to months beginning after December 31, 2026.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Health Savings Accounts for some Medicare beneficiaries
If enacted, people with Medicare Part A because of Social Security section 226(a) would be able to contribute to a Health Savings Account (HSA). This would not change HSA rules like needing a high-deductible health plan, but it would add that Part A entitlement as an allowed reason to contribute. The bill would also stop the extra tax on HSA withdrawals not used for medical expenses for "eligible individuals." It would make buying health insurance from an HSA a qualified medical expense only for people who have reached the age in section 1811 and who are not "eligible individuals." The changes would apply for months beginning after December 31, 2026, in taxable years ending after that date.
Sponsors & CoSponsors
Sponsor
Fischbach, Michelle [R-MN-7]
MN • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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