Health Savings Account Expansion Act of 2016

[AI summary unavailable — showing source text] Health Savings Account Expansion Act of 2016 This bill amends the Internal Revenue Code to modify the requirements for health savings accounts (HSAs). The bill modifies the requirements to: increase the maximum contribution amounts, permit the use of HSAs to pay health insurance premiums and direct primary care expenses, repeal the restriction on using HSAs for over-the-counter medications, eliminate the requirement that a participant in an HSA be enrolled in a high deductible health care plan, and decrease the additional tax for HSA distributions not used for qualified medical expenses.…