Hardworking Seniors Act

Key Points

• This bill allows people who are signed up for Medicare Part A to keep putting money into their Health Savings Accounts. Under current law, most people must stop adding money to these tax-free accounts once they enroll in Medicare.
• The change would help older Americans who are still working or have high-deductible health plans save more money for their medical costs. These accounts are popular because the money put in is not taxed and can be used for doctor visits and medicine.
• If this bill becomes law, the new rules would start on January 1, 2027. This gives seniors more flexibility in how they manage their healthcare savings as they get older and continue to work.
• The policy also updates tax rules to ensure that seniors using these accounts are treated fairly regarding penalties and how they spend their saved funds on medical care.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.