The IVF with HSAs Act of 2024 expands health savings accounts (HSAs) by removing the requirement that individuals must be enrolled in high-deductible health plans to use them, allowing anyone with any type of health insurance coverage to open and contribute to an HSA. The bill also significantly increases HSA contribution limits, raising the annual contribution cap from $2,250 to $8,600 for individual coverage and from $4,500 to $17,100 for family coverage, with future increases adjusted for inflation starting in 2026. These changes take effect for tax years beginning after December 31, 2024, making HSAs available to a much broader population and allowing greater tax-advantaged savings for healthcare expenses. The legislation primarily affects individuals with health insurance and those seeking to save for medical costs through tax-advantaged accounts, with no specific funding required as the changes operate through the tax code.
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