Summary
This bill provides a tax deduction for health insurance premiums paid to provide medical insurance coverage for an individual, the individual’s spouse, and the individual’s dependents. Under the bill, the tax deduction may be claimed as an adjustment to income (also known as an above-the-line tax deduction), which does not require the individual to itemize deductions.
Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 111 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 111
To amend the Internal Revenue Code of 1986 to allow an above-the-line
deduction for health insurance premiums.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 3, 2025
Mr. Biggs of Arizona introduced the following bill; which was referred
to the Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to allow an above-the-line
deduction for health insurance premiums.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. DEDUCTION FOR HEALTH INSURANCE PREMIUMS.
(a) In General.--Part VII of subchapter B of chapter 1 of the
Internal Revenue Code of 1986 is amended by redesignating
section 224
as
section 225 and by inserting after
section 223 the following new
section:
``
SEC. 224. DEDUCTION FOR HEALTH INSURANCE PREMIUMS.
``In the case of an individual, there shall be allowed as a
deduction for the taxable year amounts paid by the taxpayer for
insurance which constitutes medical care (as defined in
section 213(d))
for the taxpayer and the taxpayer's spouse and dependents. No amount
allowed as a deduction under the preceding sentence shall be taken into
account in determining any deduction or credit otherwise allowable to
the taxpayer (or any other taxpayer) under this chapter.''.
(b) Deduction Allowed Whether or Not Individual Itemizes Other
Deductions.--Subsection (a) of
section 62 of such Code is amended by
inserting before the last sentence at the end the following new
paragraph:
``(22) Deduction for health insurance premiums.--The
deduction allowed by
section 224.''.
(c) Clerical Amendment.--The table of sections for part VII of
subchapter B of chapter 1 of such Code is amended by redesignating the
item relating to
section 224 as an item relating to
section 225 and by
inserting after the item relating to
section 223 the following new
item:
``
Sec. 224. Deduction for health insurance premiums.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2024.
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