HSA

Senator Bill Cassidy (R-LA) has introduced S. 2217, the Independent Retirement Fairness Act.

Congress passed the tax bill known as the One Big Beautiful Bill Act (OBBBA) on July 3, 2025. This article outlines certain retirement and financial provisions included in the OBBBA.

The Senate has passed by a vote of 51-50 its version of the tax reconciliation bill. The legislation will now move to the House as the President’s self-imposed July 4 deadline quickly approaches.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration for the following disasters for the period indicated.

The House of Representatives has passed their version of the reconciliation tax bill—H.R. 1, the One Big Beautiful Bill Act—by a vote of 215-214.

The House Committee on Ways and Means has approved their tax package out of committee by a party line vote of 26-19 following a markup hearing.

Senators Jacky Rosen (D-NV) and Bill Cassidy (R-LA) have introduced S. 1565, the Lowering Costs for Caregivers Act.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 8, 2025, for Arkansas severe storms and tornadoes, for the incident period of March 14-15, 2025.

The House Committee on Ways and Means has released draft text of a budget bill and a section by section summary ahead of a full committee markup of the bill scheduled today. While the proposal represents an early marker of what is expected to be a rigorous process through reconciliation, the following provisions are highlighted.

The IRS has issued Revenue Procedure 2025-19, providing inflation-adjusted amounts for Health Savings Accounts (HSAs) for calendar year 2026. Maximum annual HSA contributions will rise from $4,300 to $4,400 for those with self-only insurance coverage, and from $8,550 to $8,750 for those with family coverage.

Minimum deductible amounts for qualifying high deductible health plans will increase from $1,650 for self-only coverage to $1,700, and from $3,300 to $3,400 for a family plan. Maximum out-of-pocket amounts under self-only coverage will rise from $8,300 to $8,500, and from $16,600 to $17,000 for family coverage.