117 HR 5563 IH: Stop Penalizing Working Seniors Act U.S. House of Representatives 2021-10-12 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.

I117th CONGRESS1st SessionH. R. 5563IN THE HOUSE OF REPRESENTATIVESOctober 12, 2021Mr. Latta introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to allow individuals only enrolled in Medicare Part A to contribute to health savings accounts.

1.

Short title

This Act may be cited as the Stop Penalizing Working Seniors Act.

2.

Individuals over age 65 enrolled only in Medicare Part A allowed to contribute to health savings accounts

(a)

In general

Section 223(b)(7) of the Internal Revenue Code of 1986 is amended by adding at the end the following: This paragraph shall not apply to any individual during any period for which the individual’s only entitlement to such benefits is an entitlement to hospital insurance benefits under part A of title XVIII of such Act pursuant to an enrollment for such hospital insurance benefits under section 226(a) of such Act..(b)

Effective date

The amendments made by this subsection shall apply to taxable years beginning after December 31, 2020.