118 HR 6279 IH: Wearable Equipment Adoption and Reinforcement and Investment in Technology Act U.S. House of Representatives 2023-11-07 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.

I118th CONGRESS1st SessionH. R. 6279IN THE HOUSE OF REPRESENTATIVESNovember 7, 2023Mrs. Steel (for herself, Mr. Bera, and Mr. Schweikert) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to allow certain wearable devices to be purchased using health savings accounts and other spending arrangements and reimbursement accounts.

1.

Short title

This Act may be cited as the Wearable Equipment Adoption and Reinforcement and Investment in Technology Act or the WEAR IT Act.

2.

Inclusion of certain wearable devices as qualified medical expenses

(a)

HSAs

Section 223(d)(2) of the Internal Revenue Code of 1986 is amended—(1)in the last sentence of subparagraph (A), by striking the period at the end and inserting the following: , and amounts paid for wearable devices shall be treated as paid for medical care to the extent such amounts do not exceed $375 for the taxable year., and (2)by adding at the end the following new subparagraph:(E)

Wearable device

For purposes of this paragraph, the term wearable device means a device or software that—(i)is worn on the body or is used primarily in connection with a device that is worn on the body, and(ii)collects and analyzes physiological data for the diagnosis, cure, mitigation, treatment, or prevention of disease..(b)

Archer MSAs

Section 220(d)(2)(A) of such Code is amended by striking the period at the end and inserting the following: , and amounts paid for wearable devices (as defined in section 223(d)(2)(E)) shall be treated as paid for medical care to the extent such amounts do not exceed $375 for the taxable year.(c)

Health flexible spending arrangements and health reimbursement arrangements

Section 106 of such Code is amended by adding at the end the following new subsection:(h)

Reimbursements for wearable devices

For purposes of this section and section 105, expenses incurred for wearable devices (as defined in section 223(d)(2)(E)) shall be treated as incurred for medical care to the extent such amounts do not exceed $375 for the taxable year..(d)

Effective dates

(1)

Distributions from savings accounts

The amendments made by subsections (a) and (b) shall apply to amounts paid after December 31, 2023.(2)

Reimbursements

The amendment made by subsection (c) shall apply to expenses incurred after December 31, 2023.