Restoring Access to Medication and Improving Health Savings Act of 2016

Sponsor: Lynn Jenkins (R-KS)

Restoring Access to Medication and Improving Health Savings Act of 2016 This bill amends the Internal Revenue Code to modify the rules that apply to health savings accounts (HSAs) and overpayments of subsidies under the Patient Protection and Affordable Care Act. Restoring Access to Medication Act of 2016 The bill repeals provisions of the Internal Revenue Code, as added by the Patient Protection and Affordable Care Act, that limit payments for medications from HSAs, medical savings accounts, and health flexible spending arrangements to only prescription drugs or insulin (thus allowing distributions from such accounts for over-the-counter drugs). Health Care Security Act of 2016 The bill modifies the rules for HSAs with respect to catch-up contributions for married couples, medical expenses incurred before an HSA is established, and contribution limits.

Taxation Topic assigned by the Congressional Research Service.