1. Short title
This Act may be cited as the “Lower Health Insurance Deductibles Act”.
Lower Health Insurance Deductibles Act
A BILL
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.
2. High deductible health plan deductible and catastrophic coverage flexibility for purposes of HSAs
In general— Paragraph (2) of section 223(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
“(E) Division of annual deductible—A plan shall not fail to be treated as a high deductible health plan by reason of having separate annual deductibles for medicine or drugs and for other medical care if the sum of such deductibles, if treated as 1 annual deductible, meets the requirements of subparagraph (A).”
Effective date— The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.