{
  "id": "R45277",
  "type": "CRS Report",
  "typeId": "R",
  "number": "R45277",
  "active": true,
  "source": "CRSReports.Congress.gov, EveryCRSReport.com",
  "versions": [
    {
      "summary": null,
      "typeId": "R",
      "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R45277",
      "source": "CRSReports.Congress.gov",
      "type": "CRS Report",
      "retrieved": "2022-09-11T04:03:21.889377",
      "source_dir": "crsreports.congress.gov",
      "id": "R45277_7_2022-08-08",
      "formats": [
        {
          "format": "PDF",
          "url": "https://crsreports.congress.gov/product/pdf/R/R45277/7",
          "sha1": "548d7f71cf4184f13bc938836e22d48b85f6ff86",
          "filename": "files/2022-08-08_R45277_548d7f71cf4184f13bc938836e22d48b85f6ff86.pdf"
        },
        {
          "format": "HTML",
          "filename": "files/2022-08-08_R45277_548d7f71cf4184f13bc938836e22d48b85f6ff86.html"
        }
      ],
      "active": true,
      "title": "Health Savings Accounts (HSAs)",
      "date": "2022-08-08"
    },
    {
      "summary": null,
      "typeId": "R",
      "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R45277",
      "source": "CRSReports.Congress.gov",
      "type": "CRS Report",
      "retrieved": "2022-09-11T04:03:21.887924",
      "source_dir": "crsreports.congress.gov",
      "id": "R45277_5_2020-08-13",
      "formats": [
        {
          "format": "PDF",
          "url": "https://crsreports.congress.gov/product/pdf/R/R45277/5",
          "sha1": "ac15e365c5c5a6f8db96094e4f4d65b8c5c4ccd9",
          "filename": "files/2020-08-13_R45277_ac15e365c5c5a6f8db96094e4f4d65b8c5c4ccd9.pdf"
        },
        {
          "format": "HTML",
          "filename": "files/2020-08-13_R45277_ac15e365c5c5a6f8db96094e4f4d65b8c5c4ccd9.html"
        }
      ],
      "active": true,
      "title": "Health Savings Accounts (HSAs)",
      "date": "2020-08-13"
    },
    {
      "source": "EveryCRSReport.com",
      "id": 583430,
      "date": "2018-07-31",
      "retrieved": "2018-08-07T13:41:43.819003",
      "title": "Health Savings Accounts (HSAs)",
      "summary": "A health savings account (HSA) is a tax-advantaged account that individuals can use to pay for unreimbursed medical expenses (e.g., deductibles, co-payments, coinsurance, and services not covered by insurance).\nIndividuals may establish and contribute to an HSA for each month that they are covered under an HSA-qualified high-deductible health plan (HDHP), do not have disqualifying coverage, and cannot be claimed as a dependent on another person\u2019s tax return. The account can be established with an insurer, bank, or other Internal Revenue Service (IRS)-approved trustee and is tied to the individual. Account holders retain access to their accounts if they change employers, insurers, or subsequently obtain coverage under a non-HSA qualified plan. \nTo be considered an HSA-qualified HDHP, a health plan must meet several tests: it must have a deductible above a certain minimum level, it must limit total annual out-of-pocket expenditures for covered benefits to no more than a certain maximum level, and it can provide only preventive care services before the deductible is met. In 2018, HSA-qualified HDHPs must have a minimum deductible of $1,350 for self-only coverage and $2,700 for family coverage and an annual limit on out-of-pocket expenditures for covered benefits that does not exceed $6,650 and $13,300, respectively. These amounts are adjusted for inflation (rounded to the nearest $50) annually.\nHSAs have annual contribution limits, which in 2018 are $3,450 for individuals with self-only coverage and $6,900 for those with family coverage. Eligible individuals may make direct contributions to their HSAs, and employers, family members, and other individuals may make contributions to an individual\u2019s HSA on the individual\u2019s behalf. In addition to the annual limit, individuals who are at least 55 years of age but not yet enrolled in Medicare may contribute an additional annual catch-up contribution of $1,000. The annual contribution limit amounts are adjusted for inflation (rounded to the nearest $50) annually, but the catch-up contribution amount is fixed. Unused balances may accumulate without limit, be invested, and carry over from year to year.\nIndividuals do not need to be enrolled in an HSA-eligible HDHP to make withdrawals from the account; however, any withdrawals that are not spent on qualified medical expenses for the account holder, the account holder\u2019s spouse, or the account holder\u2019s dependents generally are subject to a penalty tax. Qualified medical expenses include the costs of diagnosis, cure, mitigation, treatment, or prevention of disease and the costs for treatments affecting any part of the body; the amounts paid for transportation to receive medical care; and qualified long-term care services. In general, HSAs cannot be used to pay for health insurance premiums or over-the-counter medications.\nHSAs have several tax advantages: individual contributions are tax deductible unless made through a pretax salary reduction agreement; employer contributions (including individual contributions made through pretax salary reductions) are excluded from taxable income and from Social Security, Medicare, and unemployment insurance taxes; account earnings are tax exempt; and withdrawals are not taxed if used for qualified medical expenses. However, individuals generally are penalized for withdrawing funds for nonqualified medical expenses and for making contributions above the annual HSA limit.\nAlthough it would be beneficial to study the entire HSA population, which is the population that is eligible to establish and contribute to an HSA (i.e., enrolled in an HSA-eligible HDHP) and the population that has an HSA, few available data sources provide a comprehensive understanding of the entire HSA population. The lack of available data stems in part from the fact that HSAs and HSA-qualified HDHPs are two separate products that can be administered by two separate institutions. As a result, HSA research tends to focus on one of two populations, HSA-qualified HDHP enrollees or HSA holders. Although exact point estimates for the entire HSA/HSA-qualified HDHP population are difficult to determine, current research, when referenced collectively, can highlight various trends. Specifically, multiple different sources have demonstrated continued increases in HSA-qualified HDHP enrollment and HSAs since the mid-2000s.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": true,
      "formats": [
        {
          "format": "HTML",
          "encoding": "utf-8",
          "url": "http://www.crs.gov/Reports/R45277",
          "sha1": "c6d61b91e51eced634946f1bcb5bacdf506d967f",
          "filename": "files/20180731_R45277_c6d61b91e51eced634946f1bcb5bacdf506d967f.html",
          "images": {}
        },
        {
          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/R45277",
          "sha1": "b90093de4ec9e229f2932d270bf9e914b197b87d",
          "filename": "files/20180731_R45277_b90093de4ec9e229f2932d270bf9e914b197b87d.pdf",
          "images": {}
        }
      ],
      "topics": [
        {
          "source": "IBCList",
          "id": 4790,
          "name": "Private Health Insurance"
        }
      ]
    }
  ],
  "topics": [
    "Health Policy"
  ]
}