US House Passes Bill to Improve Health Savings Accounts
On July 5, against opposition from President Barack Obama, the U.S. House of Representatives passed tax-related health care legislation that includes an expansion of health savings accounts and an increase to the existing caps on repayments of advance premium tax credits. Health savings accounts are generally used to pay for out-of-pocket medical expenses that are not covered by health insurance plans, which usually cover large and/or unexpected health events.
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