Personalized Care Act of 2021
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%.