HSA

The House of Representatives has passed the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act by a vote of 302 to 123.

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for victims of severe storms and straight-line winds in Leech Lake Band of Ojibwe until February 2, 2026.

Senator Robert Marshall (R-KS) has introduced the Lowering Healthcare Costs for Americans Act. According to a press release, included in the bill is a provision that beginning in 2027, would redirect premium tax credit funding into a new type of health savings account (HSA) called a healthcare affordability account. The program would have a 700% income cap and a five-year phase down. 

The Internal Revenue Service has posted new draft Instructions for Forms 1099-SA and 5498-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA, and HSA, Archer MSA, or Medicare Advantage MSA Information. These forms are used when administering health savings accounts (HSA), Archer Medical Savings Accounts (Archer MSA), and Medicare Advantage Medical Savings Accounts (MA MSA).

Senators Mike Crapo (R-ID) and Bill Cassidy (R-LA) have released the Health Care Freedom for Patients Act. According to a bill summary, the proposal would—among other things—direct the Department of Health and Human Services to deposit payments into Health Savings Accounts paired with bronze or catastrophic plans on the Exchange in 2026 and 2027.

The Internal Revenue Service (IRS) has issued Notice 2026-05 which provides guidance on changes relating to health savings accounts (HSAs) enacted under the One, Big, Beautiful Bill Act (OBBBA).

Senator Rand Paul (R-KY) has introduced the Health Marketplace and Savings Accounts for All Act.

The IRS has posted the 2025 tax year Form 8889, Health Savings Accounts (HSAs). Taxpayers file Form 8889 to report HSA contributions and associated tax deductions, HSA distributions, and any tax or penalty tax owed for distributions not used for qualified medical expenses.

The Internal Revenue Service (IRS) has posted Instructions for Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, for 2025. 

The Internal Revenue Service (IRS) has posted 2025 tax year Instructions for Form 8889, Health Savings Accounts (HSAs).