Bills · HR 74
IN COMMITTEE· 119TH CONGRESS
House BillHR 74Income tax deductionsHealth care costs and insurance
Freedom for Families Act
INTRO JAN 3· LAST ACTION JAN 3
READING
4MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it fundamentally changes how Health Savings Accounts (HSAs) work, offering more financial flexibility and expanded access. If it becomes law, it could help individuals and families who face financial pressure when taking time off for family or medical reasons, providing them a way to tap into their savings without tax penalties. This could make it easier for people to afford to take necessary leave to care for themselves or loved ones.
It also matters because it broadens who can use HSAs. By removing the requirement for a high-deductible health plan, many more Americans could open and contribute to an HSA, regardless of their specific insurance plan. This means more people could save money tax-free for healthcare expenses, potentially reducing out-of-pocket costs and increasing financial security. If it doesn't pass, HSAs will remain tied to high-deductible plans and continue to have current, lower contribution limits, and withdrawals during family leave for non-medical expenses would still be taxed and penalized.
KEY PROVISIONS
3AI-extractedPROVISION 01
Allows tax-free withdrawals from Health Savings Accounts (HSAs) for any purpose during periods when someone is on family or medical leave, such as caring for a new child or a sick family member.
This provides financial relief and flexibility for individuals taking unpaid leave for family or medical reasons.
PROVISION 02
Removes the current requirement that individuals must have a high-deductible health insurance plan to open and contribute to a Health Savings Account (HSA).
This significantly expands eligibility for HSAs, allowing more people to save for healthcare with tax benefits.
PROVISION 03
Significantly increases the annual contribution limits for Health Savings Accounts to $9,000 for individuals and $18,000 for those filing jointly.
This enables individuals and families to save much more money tax-free for healthcare expenses or use during qualified caregiving periods.
SPONSORSHIP
1 + 1
R· Arizona
YRS IN OFFICE
9
BILLS LED
110
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 1 IND 0
ACTION TIMELINE
3 EVENTSJAN 3
Introduced in House
JAN 3
Introduced in House
JAN 3
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 74
Congress119th
StatusIn Committee
IntroducedJan 3, 2025
Last actionJan 3, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 3, 2025
House BillHR 74Income tax deductionsHealth care costs and insurance
Freedom for Families Act
INTRODUCED JAN 3, 2025· LAST ACTION JAN 3, 2025
PASSAGE CHANCES
—%
READING
4 min
COSPONSORS
1
COMPLEXITY
Moderate
