Health Savings Account Availability Act

[AI summary unavailable — showing source text] Health Savings Account Availability Act - Amends the Internal Revenue Code to allow a deduction to individuals (both itemizers and nonitemizers) in high deductible health plans for contributions to health savings accounts. Limits monthly contributions to an account to one-twelfth of the annual deductible. Defines a high deductible plan and a health savings account. States that a plan or other arrangement shall not fail to be treated as a cafeteria plan solely because qualified benefits under such plan include a health flexible spending arrangement under which not more than $500 of unused health benefits may be: (1) carried forward to the succeeding plan year of such health flexible spending arrangement; or (2) contributed on behalf of an employee to a qualified retirement plan, an eligible deferred compensation plan, or a health savings account.…