More health plans are eligible under the new rules, but income thresholds can be advantageous.
One big beautiful bill law that passed the House on May 22 and is currently being debated in the Senate includes additional tax benefits designed to help Americans pay for healthcare.
This provision expands eligibility for a Health Savings Account (HSA). This allows Americans to use pre-tax money to pay certain medical expenses. According to Bank of America, donations to HSAs include the “benefits of triple tax” that are what is called “benefits of triple tax.” Donations to HSAs are tax deductible, account funds can be invested in profits without tax, and withdrawal of eligible medical expenses is also not taxable.
