Protecting Life in Health Savings Accounts Act

HR 720, the "Protecting Life in Health Savings Accounts Act," prohibits using Health Savings Accounts (HSAs), Archer MSAs, health flexible spending accounts, and retiree health accounts to pay for abortions, except in specific cases. The bill defines "excluded abortion" to include abortions related to rape or incest, or those necessary to prevent a life-threatening physical condition caused by pregnancy (as certified by a physician). This change would affect individuals relying on these tax-advantaged accounts for healthcare expenses, making most abortion costs non-reimbursable through such plans. The provisions would take effect for taxable years beginning after December 31, 2025.