Health Savings Act of 2023

The Health Savings Act of 2023 makes several key changes to health savings accounts (HSAs) to increase accessibility and flexibility. It renames "high deductible health plans" to "HSA-qualified health plans" and allows both spouses to make catch-up contributions to the same HSA account. The bill increases the maximum annual HSA contribution limit to match the deductible and out-of-pocket limit, and expands qualifying medical expenses to include exercise equipment, certain nutritional supplements, and periodic provider fees. It also clarifies how HSAs interact with other health accounts like flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). These changes primarily affect individuals who use HSAs, their families, and healthcare providers who work with these accounts.