November 9, 2009 – The Affordable Health Care for America Act (H.R. 3962) passed by the House of Representatives contains several provisions affecting existing health benefit programs. These provisions are intended to result in a net gain in tax revenue to help offset the tax cost of other provisions of H.R. 3962.
If enacted, H.R. 3962 would change the 10 percent taxpayer penalty for health savings account (HSA) distributions not used for qualified medical expenses to 20 percent beginning in 2011.
The Senate has not yet arrived at final legislation that consolidates two Senate committee-generated health care bills. Senate and House bills must be identical, either as drafted, or rewritten by Conference Committee and passed again by House and Senate, before President Obama could sign the legislation into law.