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2020 SESSION

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HB 604 Virginia National Guard; member benefits, health savings accounts.

Introduced by: Nicholas J. Freitas | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia National Guard member benefits; health savings accounts. Provides that a member of the Virginia National Guard may elect to receive, in lieu of any tuition assistance grants, a matching contribution from the state to a health savings account. The Department of Military Affairs shall establish a health savings account for any member who elects to receive this benefit. The matching contribution shall equal the member's contribution up to the maximum amount allowable by federal law. In order to qualify, a member must (i) have a minimum remaining obligation of two years, (ii) have satisfactorily completed required initial active duty service, (iii) be satisfactorily performing duty in accordance with regulations of the National Guard, and (iv) be eligible for such an account under federal law. The bill also provides that in the event that a member ceases to be eligible for a health savings account, by reason of being called to active duty military service or otherwise, all contributions from the state shall stop and the Department of Military Affairs shall provide notice to the member of the loss of eligibility.


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