Bills · HR 955
IN COMMITTEE· 119TH CONGRESS
House BillHR 955Taxation
HOPE Act of 2025
INTRO FEB 4· LAST ACTION FEB 4
READING
16MIN
COSPONSORS
18BIPARTISAN
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 healthcare costs continue to be a major financial concern for many Americans, often leading to unexpected expenses that can strain household budgets. If it becomes law, the HOPE Act would give people another powerful tool to save for these costs, allowing them to put money aside and spend it on medical care without paying taxes on it.
This could make healthcare more affordable by reducing the overall cost of saving for and paying medical bills. Without this bill, individuals would continue to rely on existing savings methods, which may not offer the same tax advantages for medical expenses, or existing tax-advantaged accounts like HSAs or FSAs, which have different eligibility rules that might not apply to everyone. It aims to provide broader access to tax-advantaged health savings.
KEY PROVISIONS
5AI-extractedPROVISION 01
Establishes "HOPE Accounts" (Health Out-of-Pocket Expense Accounts) as new tax-exempt trusts specifically for paying qualified medical expenses.
Creates a new, tax-advantaged way for individuals to save for their healthcare costs, reducing the financial burden.
PROVISION 02
Defines "eligible individual" as someone with minimum essential coverage or Indian Health Service coverage, who is not contributing to other specified health savings accounts (HSAs, FSAs, HRAs, Archer MSAs).
Sets clear criteria for who can participate, ensuring the accounts serve a specific population not fully covered by other existing health savings tools.
PROVISION 03
Sets annual contribution limits: $4,000 for self-only coverage or married filing separately/jointly, and $8,000 for family coverage or head of household.
Determines the maximum amount of tax-free funds individuals can save each year for medical expenses.
PROVISION 04
Specifies that funds in a HOPE Account must be used exclusively for "qualified medical expenses" of the account beneficiary, spouse, or dependents, following existing tax definitions.
Ensures the accounts are used strictly for their intended purpose of covering healthcare costs and prevents misuse of tax-advantaged funds.
PROVISION 05
Allows contributions to HOPE Accounts from employers and, if approved by the Secretary of Health and Human Services, from State Medicaid programs.
Expands potential funding sources beyond just the individual, which could encourage broader adoption and support for these accounts.
SPONSORSHIP
1 + 18
R· Utah
YRS IN OFFICE
5
BILLS LED
43
COSPONSOR BREAKDOWNBIPARTISAN · 100%
DEM 9 REP 9 IND 0
ACTION TIMELINE
2 EVENTSFEB 4
Introduced in House
FEB 4
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 955
Congress119th
StatusIn Committee
IntroducedFeb 4, 2025
Last actionFeb 4, 2025
READER REACTIONS
OVERALL SENTIMENT
No reactions yet. Be the first to weigh in.
Discussion
Loading comments...
IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED FEB 4, 2025
House BillHR 955Taxation
HOPE Act of 2025
INTRODUCED FEB 4, 2025· LAST ACTION FEB 4, 2025
PASSAGE CHANCES
—%
READING
16 min
COSPONSORS
18
COMPLEXITY
Moderate
