26 U.S.C. s. 223: Health savings accounts

What this document is

26 U.S.C. s. 223: Health savings accounts is a state statute published by U.S. Government Publishing Office (govinfo.gov). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 26 U.S.C. § 223: Subsection (b)(1) (Deduction Limitation)

  “The amount allowable as a deduction under subsection (a) to an individual for the taxable year shall not exceed the sum of the monthly limitations for months during such taxable year that the individual is an eligible individual.”

• 26 U.S.C. § 223: Subsection (c)(2) (High Deductible Health Plan)

  “(2) High deductible health plan (A) In general The term "high deductible health plan" means a health plan - (i) which has an annual deductible which is not less than - (I) $1,000 for self-only coverage, and (II) twice the dollar amount in subclause (I) for family coverage, and (ii) the sum of the...”

• 26 U.S.C. § 223: Subsection (f)(4)(A) (Additional Tax on Distributions Not Used for Qualified Medical Expenses)

  “(4) Additional tax on distributions not used for qualified medical expenses (A) In general The tax imposed by this chapter on the account beneficiary for any taxable year in which there is a payment or distribution from a health savings account of such beneficiary which is includible in gross...”

• 26 U.S.C. § 223(c)(1)(A): definition of eligible individual

  “The term "eligible individual" means, with respect to any month, any individual if - (i) such individual is covered under a high deductible health plan as of the 1st day of such month, and (ii) such individual is not, while covered under a high deductible health plan, covered under any health plan...”

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More Federal sources sources

• Coverage for Pre-existing Conditions (Affordable Care Act) - HealthCare.govFederal guidance
• 20 C.F.R. § 404.1520 -- Evaluation of Disability in General (the five-step sequential evaluation process)Regulation
• Parts of Medicare (Medicare & You / medicare.gov)Federal guidance
• Continuation of Health Coverage (COBRA) - U.S. Department of LaborReference
• Portability of Health Coverage (HIPAA) - U.S. Department of LaborReference
• Fair Credit Reporting Act - 15 U.S.C. § 1681a (Definitions)State statute
• 15 U.S.C. s. 1681b: FCRA permissible purposes of consumer reportsState statute
• 15 U.S.C. s. 1681c: FCRA requirements relating to obsolete information in consumer reportsState statute