An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Health Savings Account (HSA)

A tax-advantaged savings account that can be used for qualified medical expenses. It is typically available to people enrolled in high-deductible health plans.

Exchange plan HSA

A new type of Health Savings Account proposed by this bill, specifically for people buying health insurance through government marketplaces (Exchanges), with unique rules regarding rollovers and fund usage.

Bronze level qualified health plan

A type of health insurance plan offered on the government marketplaces (Exchanges) that typically has the lowest monthly premiums but the highest out-of-pocket costs, covering about 60% of medical expenses on average.

Catastrophic plan

A type of health insurance plan offered on the government marketplaces (Exchanges) designed to protect against very high medical costs. It typically has a very high deductible and is only available to people under 30 or those with a hardship exemption.

Cost-sharing reduction payments

Government subsidies that lower the amount people have to pay for deductibles, copayments, and coinsurance when they get care. (Mentioned in the bill's Table of Contents, not detailed in provided text).

FMAP (Federal Medical Assistance Percentage)

The percentage of Medicaid program costs paid by the federal government to each state. (Mentioned in the bill's Table of Contents, not detailed in provided text).