S 3242 · 114th Congress · Taxation
Responsible Additions and Increases to Sustain Employee Health Benefits Act of 2016
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance.(2016-07-14)
Plain Language Summary
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Responsible Additions and Increases to Sustain Employee Health Benefits Act of 201 6 This bill amends the Internal Revenue Code, with respect to the tax exclusion for distributions from health flexible spending arrangements provided under a cafeteria plan, to: (1) increase the annual limit on employee salary reduction contributions to $5,000, with an additional $500 for each additional employee dependent above two dependents that has not been taken into account by another person for the year; (2) revise the adjustment for inflation after 2017; and (3) allow a carryforward into the next year for unused amounts in such plans.…
Summarized by Claude AI · Non-partisan · For informational purposes only