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H.R. 5858, Health Savings Account Improvements Act of 2012 1 (June 4, 2012)

handle is hein.congrec/cbo10762 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE a COST ESTIMATE June 4, 2012 H.R. 5858 Health Savings Accounts Improvements Act of 2012 As ordered reported by the House Committee on Ways and Means on May 31, 2012 SUMMARY H.R. 5858 would make several changes to the tax treatment of health savings accounts (HSAs). The staff of the Joint Committee on Taxation (JCT) estimates that these changes together would decrease revenues by $173 million in 2013, about $1.8 billion over the 2013-2017 period, and $4.7 billion over the 2013-2022 period. Pay-as-you-go procedures apply because enacting the legislation would affect revenues. The bill would allow certain former employees to use HSA contributions for their health insurance expenses, allow spouses to allocate their catch-up contributions between their HSAs, permit certain deductible HSA contributions to be eligible for a saver's tax credit, allow individuals recently receiving veterans benefits for a service-connected disability to make HSA contributions, and allow HSA contributions to pay for certain expenses incurred before the establishment of the account. JCT has determined that the provisions of H.R. 5858 contain no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary impact of the Health Savings Accounts Improvements Act of 2012 is shown in the following table.

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