Bill Would Expand HSA Usage to Wearable Devices

Representative Michelle Steel (R-CA), along with co-sponsors David Schweikert (R-AZ), and Ami Bera (D-CA), have introduced HR 6279, the “Wearable Equipment Adoption and Reinforcement and Investment in Technology Act”, or the “Wear It Act”. The proposal would include certain wearable devices as qualified medical expenses for HSA purposes, up to $375 for a taxable year.

Wearable devices are defined as a device or software that is worn on the body or is used primarily in connection with a device that is worn on the body, and collects and analyzes physiological data for the diagnosis, cure, mitigation, treatment, or prevention of disease.’’ A press release referenced the following wearable devices as includable under the bill.

• EKG monitors that also detect catastrophic falls
• Wearable devices that help detect the onset of acute illness—and help monitor chronic illness—with a combination of thermometry, heart rate, motion, and sleep quality
• Wearable devices that collect pulse oximetry and temperature to detect onset of acute conditions, especially for those with pre-existing chronic conditions
• Apps that analyze any combination of these physiologic parameters to make them useful for patients and caregivers