Lower Health Insurance Deductibles Act

II 116TH CONGRESS 2D SESSION S. 3439 To amend the Internal Revenue Code of 1986 to permit high deductible health plans to divide the deductible between medical and drug costs for purposes of qualifying for health savings accounts, and for other purposes. IN THE SENATE OF THE UNITED STATES MARCH 11, 2020 Mr. SCOTT of Florida (for himself and Ms. SINEMA) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to permit high deductible health plans to divide the deductible be- tween medical and drug costs for purposes of qualifying for health savings accounts, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Lower Health Insur- 4 ance Deductibles Act’’. 5 VerDate Sep 11 2014 03:53 Mar 19, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S3439.IS S3439 kjohnson on DSK79L0C42PROD with BILLS 2 •S 3439 IS SEC. 2. HIGH DEDUCTIBLE HEALTH PLAN DEDUCTIBLE 1 AND CATASTROPHIC COVERAGE FLEXIBILITY 2 FOR PURPOSES OF HSAS. 3 (a) IN GENERAL.—Paragraph (2) of section 223(c) 4 of the Internal Revenue Code of 1986 is amended by add- 5 ing at the end the following new subparagraph: 6 ‘‘(E) DIVISION OF ANNUAL DEDUCT- 7 IBLE.—A plan shall not fail to be treated as a 8 high deductible health plan by reason of having 9 separate annual deductibles for medicine or 10 drugs and for other medical care if the sum of 11 such deductibles, if treated as 1 annual deduct- 12 ible, meets the requirements of subparagraph 13 (A).’’. 14 (b) EFFECTIVE DATE.—The amendment made by 15 this section shall apply to taxable years beginning after 16 the date of the enactment of this Act. 17 Æ VerDate Sep 11 2014 03:53 Mar 19, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S3439.IS S3439 kjohnson on DSK79L0C42PROD with BILLS