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HR 5137 United States House · 117th Congress

Senior Health Planning Account Act

Summary
Senior Health Planning Account Act This bill allows tax-exempt senior health planning accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the health care expenses of the account beneficiary or the account beneficiary's spouse.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates tax exclusion for senior health accounts, providing tax relief to seniors through non-taxable contributions and distributions for health expenses.95% confidence ✓ HealthcareSupports HealthcareAllows tax-exempt accounts for senior health expenses, excluding gains from income and distributions used for healthcare costs, improving access to care.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Aug 2021
Committee Review
Floor Vote
President
Introduced Aug 31, 2021 Last action Aug 31, 2021
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Aug 31, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Aug 31, 2021
Introduced
Introduced in House
lower
1 primary · 2 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Brian Higgins
Brian Higgins
DDemocratic
NY
26
Co
Photo of Dwight Evans
Dwight Evans
DDemocratic
PA
3
Co
Photo of Tom Reed
Tom Reed
RRepublican
NY
23