3.0.0 6134 2023-01-12T17:52:17Z 2023-01-12T17:52:17Z House H HR 2006-09-21 109 hswm00 Ways and Means Committee House Standing Reported by 2006-09-29T23:12:07Z Referred to 2006-09-21T14:01:50Z H. Rept. 109-704 2006-09-29 Placed on the Union Calendar, Calendar No. 423. Calendars H12410 2 House floor actions U00423 2006-09-29 Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-704. Committee H12200 2 House floor actions hswm00 Ways and Means Committee 2006-09-29 Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-704. Committee 5000 9 Library of Congress hswm00 Ways and Means Committee 2006-09-21 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2006-09-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-09-21 Introduced in House IntroReferral 1000 9 Library of Congress C001046 Rep. Cantor, Eric [R-VA-7] ERIC CANTOR R VA 7 N R000570 Rep. Ryan, Paul [R-WI-1] PAUL RYAN R WI 1 2006-09-21 True P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2006-09-29 False 2006-09-28T04:00:00Z H.R. 6134, Health Opportunity Patient Empowerment Act of 2006 http://www.cbo.gov/publication/18181 <p>Cost estimate for the bill as ordered reported by the House Committee on Ways and Means on September 27, 2006</p> 2006-09-28T04:00:00Z H.R. 6134, Health Opportunity Patient Empowerment Act of 2006 https://www.cbo.gov/publication/18181 Cost estimate for the bill as ordered reported by the House Committee on Ways and Means on September 27, 2006 Taxation Coinsurance Cost of living adjustments Economics and Public Finance Employee health benefits Excise tax Finance and Financial Sector Flexible benefit plans Government Operations and Politics Government publicity Health Health insurance Income tax Indexing (Economic policy) Individual retirement accounts Labor and Employment Medical economics Medical savings accounts Tax deductions Tax exclusion Tax penalties Taxation 00 2006-09-21 Introduced in House 2006-10-19T18:25:49Z Health Opportunity Patient Empowerment Act of 2006 - Amends the Internal Revenue Code to: (1) allow a one-time tax-free transfer of amounts in a health flexible spending arrangement or a health reimbursement arrangement to a health savings account (HSA) if such transfer takes place by January 1, 2012; (2) repeal deductible limitations on tax deductions for contributions to HSAs; (3) require the Secretary of the Treasury to publish inflation adjustments for HSA contribution and deductible amounts by June 1 of each year; (4) allow individuals who establish an HSA after the beginning of a taxable year to make contributions to such account up to the full annual limit; (5) permit employers to make higher contributions to the HSAs of employees who are not highly compensated; and (6) allow a one-time tax-free rollover of individual retirement account funds to an HSA.

]]> 17 2006-09-29 Reported to House with amendment(s) 2006-10-19T18:37:13Z Health Opportunity Patient Empowerment Act of 2006 - Amends Internal Revenue Code provisions relating to high deductible health plans and health savings accounts (HSAs).

(Sec. 2) Allows a one-time distribution of amounts in a health flexible spending arrangement or a health reimbursement arrangement to an HSA if such distribution takes place before January 1, 2012. Requires distribution amounts to be included in the gross income of any individual (except a deceased or disabled individual) who fails to maintain coverage in a high deductible health plan and imposes an additional 10% penalty tax on such amounts.

Allows certain coverage under a flexible spending arrangement for taxable years after December 31, 2006, to be disregarded for purposes of determining eligibility for high deductible health plan coverage.

(Sec. 3) Repeals the deductible limitations on tax deductions for contributions to HSAs.

(Sec. 4) Requires inflation adjustments to HSA contribution and deductible amounts to be determined at the end of the 12-month period ending on March 31 (currently, August 31). Requires the Secretary of the Treasury to publish inflation adjustments for HSA contribution and deductible amounts by June 1 of each year.

(Sec. 5) Allows individuals who establish an HSA after the beginning of a taxable year to make contributions up to the full annual limit.

(Sec. 6) Permits employers to make higher contributions to the HSAs of employees who are not highly compensated.

(Sec. 7) Allows a one-time tax-free distribution of individual retirement account (IRA) funds to an HSA. Requires distribution amounts to be included in the gross income of any individual (except a deceased or disabled individual) who fails to maintain coverage in a high deductible health plan and imposes an additional 10% penalty tax on such amounts.

]]> Health Opportunity Patient Empowerment Act of 2006 Display Title Health Opportunity Patient Empowerment Act of 2006 Official Title as Introduced To amend the Internal Revenue Code of 1986 to expand health coverage through the use of high deductible health plans and to encourage the use of health savings accounts. Introduced in House IH Short Titles as Introduced Health Opportunity Patient Empowerment Act of 2006 Short Titles as Reported to House Health Opportunity Patient Empowerment Act of 2006 H House Reported in House 2006-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6134rh/xml/BILLS-109hr6134rh.xml Introduced in House 2006-09-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6134ih/xml/BILLS-109hr6134ih.xml 2006-09-29 Placed on the Union Calendar, Calendar No. 423. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.