US HB5958 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on February 25 2020 - 25% progression, died in committee
Action: 2020-02-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 25 2020 - 25% progression, died in committee
Action: 2020-02-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows tax-exempt senior health planning accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the health care expenses of the account beneficiary or the account beneficiary's spouse.
Title
Senior Health Planning Account Act
Sponsors
| Rep. Brian Higgins [D-NY] | Rep. Greg Steube [R-FL] | Rep. George Holding [R-NC] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-02-25 | House | Referred to the House Committee on Ways and Means. |
| 2020-02-25 | House | Referred to the Subcommittee on Health. |
| 2020-02-25 | House | Introduced in House |
Subjects
Aging
Health care costs and insurance
Income tax exclusion
Life, casualty, property insurance
Marriage and family status
Taxation
Health care costs and insurance
Income tax exclusion
Life, casualty, property insurance
Marriage and family status
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/5958/all-info |
| Text | https://www.congress.gov/116/bills/hr5958/BILLS-116hr5958ih.pdf |
