Personalized Care Act of 2023

This bill expands Health Savings Account (HSA) eligibility and use by broadening what health coverage qualifies and what expenses can be paid from HSAs. It allows individuals with Medicaid, CHIP, TRICARE, veterans' health plans, or health care sharing ministries (a type of faith-based health cost-sharing program) to use HSAs, and increases annual contribution limits significantly (to $10,800 for individuals and $29,500 for families). It also permits HSA funds to pay for health insurance premiums, periodic provider fees for defined care packages, and health care sharing ministry membership fees as qualified medical expenses. These changes directly affect HSA account holders, particularly those using non-traditional health coverage options or seeking greater flexibility in medical expense management.