Freedom for Families Act

This bill changes the rules for health savings accounts (HSAs). Currently, you can only open and contribute to an HSA if you have a high-deductible health plan, and there are limits on how much you can put in each year. The bill removes the requirement to have a high-deductible health plan, so anyone could open an HSA. It also increases the yearly contribution limits to $9,000 for individuals and $18,000 for families. Additionally, the bill allows people to take money out of their HSA tax-free during certain caregiving situations, such as when they're caring for a new baby, a sick family member, or dealing with military family emergencies.

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