Health Savings Act of 2023

The Health Savings Act of 2023 updates rules for Health Savings Accounts (HSAs) under the Internal Revenue Code. It renames "high deductible health plans" to "HSA-qualified health plans," increases the maximum annual contribution limit to match the deductible and out-of-pocket maximum, and allows both spouses to make catch-up contributions to the same HSA account. The bill expands eligibility for HSAs to include individuals eligible for Indian Health Service assistance, members of health care sharing ministries, and those with certain on-site medical clinic coverage. Additionally, it clarifies that expenses like preventive care, exercise equipment, nutritional supplements, and periodic provider fees can now be treated as qualified medical expenses under HSAs.