HSA STORK Act Introduced in House

Representative Matt Van Epps (R-TN) has introduced the Savings for Tomorrow’s Opportunities, Raising Kids (STORK) Act. According to a press release, the legislation raises the Health Savings Account (HSA) contribution limit by $2,000 per child in the year a family welcomes a child through birth or adoption. This bill is intended to provide parents with tax-advantaged savings they need to help cover maternity care, delivery, and newborn medical expenses.