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Health Savings Account (HSA)

A tax-advantaged savings account that can be used for qualified medical expenses. Under current law, it requires a high-deductible health plan.

Internal Revenue Code of 1986

The main body of federal tax law in the United States, which outlines rules for income, deductions, and tax-advantaged accounts.

High-Deductible Health Plan (HDHP)

A type of health insurance plan with a higher annual deductible than traditional insurance plans. Currently, being covered by an HDHP is a requirement for contributing to an HSA.

Direct Primary Care Service Arrangement

A healthcare model where patients pay a regular fee directly to their primary care provider for a set of services, often outside of traditional insurance billing.

Health Marketplace Pool

A new type of entity proposed by this bill that would be legally treated like an employer for the purpose of offering group health insurance plans.

Taxable year

The 12-month period for which an individual or business calculates and reports their income for tax purposes, typically the calendar year for most individuals.