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2005 SESSION
SB 1097 Medical Savings Account Plan; amd. prov. that permit eligible indiv. to establ. health savings acct.
Introduced by: Stephen H. Martin | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Health savings accounts. Requires the Department of Taxation and the State Corporation Commission to amend the Virginia Medical Savings Account Plan to address the provisions of federal law that permit eligible individuals to establish health savings accounts. The revised plan, to be called the Virginia Health Savings Account Plan, is required to identify measures that will increase the utilization and efficacy of health savings accounts. Existing medical savings accounts may be converted to health savings accounts. Health carriers are expressly authorized to offer high deductible health plans that qualify for and may be offered in conjunction with health savings accounts. No later than July 1, 2006, the health insurance plan for state employees is required to include, as one of the health coverage options offered in each planning district, a high deductible health plan that would qualify for a health savings account. The 2003 federal Medicare legislation authorizes eligible individuals who purchase a high deductible health plan to make tax-deductible contributions into a health savings account, generally up to the amount of the health plan's deductible, and to make tax-free withdrawals from the health savings account to pay for qualified medical expenses. The measure also repeals provisions relating to the establishment of the Virginia Medical Savings Account Plan and to the role of the Joint Commission on Health Care in monitoring the Plan. This bill is identical to HB 1492.
FULL TEXT
- 01/12/05 Senate: Prefiled & ordered printed; offered 01/12/05 054171136 pdf | impact statement
- 02/11/05 House: Committee substitute printed 051762136-H1 pdf
- 03/02/05 Senate: Bill text as passed Senate and House (SB1097ER) pdf | impact statement
- 03/30/05 Governor: Acts of Assembly Chapter text (CHAP0503) pdf
HISTORY
- 01/12/05 Senate: Prefiled & ordered printed; offered 01/12/05 054171136
- 01/12/05 Senate: Referred to Committee on Education and Health
- 01/20/05 Senate: Reported from Education and Health (11-Y 0-N)
- 01/20/05 Senate: Rereferred to Commerce and Labor
- 01/24/05 Senate: Rereferred from C.& L. (14-Y 0-N)
- 01/24/05 Senate: Rereferred to Finance
- 02/01/05 Senate: Reported from Finance (15-Y 0-N)
- 02/02/05 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/02/05 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/03/05 Senate: Read second time and engrossed
- 02/04/05 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/04/05 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 02/04/05 Senate: Communicated to House
- 02/08/05 House: Placed on Calendar
- 02/08/05 House: Read first time
- 02/08/05 House: Referred to Committee on Health, Welfare and Institutions
- 02/10/05 House: Reported from H. W. I. w/substitute (22-Y 0-N)
- 02/11/05 House: Committee substitute printed 051762136-H1
- 02/11/05 House: Read second time
- 02/14/05 House: Read third time
- 02/14/05 House: Committee substitute agreed to 051762136-H1
- 02/14/05 House: Engrossed by House - committee substitute SB1097H1
- 02/14/05 House: Passed House with substitute BLOCK VOTE (95-Y 0-N)
- 02/14/05 House: VOTE: BLOCK VOTE PASSAGE (95-Y 0-N)
- 02/14/05 House: Reconsideration of House passage agreed to by House
- 02/14/05 House: Passed House with substitute BLOCK VOTE (96-Y 0-N)
- 02/14/05 House: VOTE: BLOCK VOTE PASSAGE (96-Y 0-N)
- 02/16/05 Senate: House substitute agreed to by Senate (40-Y 0-N)
- 02/16/05 Senate: VOTE: CONCUR HOUSE AMENDMENT (40-Y 0-N)
- 03/02/05 Senate: Enrolled
- 03/02/05 Senate: Bill text as passed Senate and House (SB1097ER)
- 03/03/05 House: Signed by Speaker
- 03/04/05 Senate: Signed by President
- 03/22/05 Governor: Approved by Governor-Chapter 503 (effective 7/1/05)
- 03/30/05 Governor: Acts of Assembly Chapter text (CHAP0503)