Affordable Health Insurance Act of 1991

[AI summary unavailable — showing source text] Affordable Health Insurance Act of 1991 - Amends the Internal Revenue Code to allow individuals a tax credit for 33 percent of qualified health insurance premiums. Limits such credit to specified amounts based on the age of the qualifying individual. Provides an annual adjustment of such amounts based on the Consumer Price Index. Disallows such credit for individuals entitled to benefits under title XVIII (Medicare) of the Social Security Act. Prohibits such credit from being taken into account when determining the medical expense deduction. Allows individuals a tax credit for 33 percent of the contributions made to a tax-exempt medical care savings account established for the benefit of qualifying individuals (the taxpayer or spouse). Sets forth limitations on such accounts concerning: (1) coverage by a qualified health insurance plan; (2) retention of contributions for at least 180 days before distribution; (3) balance requirements of at least $1,000 after the third year; and (4) a maximum credit of $825, adjusted for inflation after 1992. Provides for including amounts distributed from such accounts to the gross income of the distributee unless such amounts are used for eligible…