Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB364

Introduced
7/13/23  
Refer
7/13/23  
Report Pass
9/7/23  
Refer
9/22/23  
Report Pass
9/26/23  

Caption

Adopting federal tax law changes regarding contributions to a health savings account and telehealth services. (FE)

Impact

This bill, if enacted, will have significant implications for Wisconsin state tax policy. By allowing these deductions, SB364 could encourage more residents to use health savings accounts, potentially leading to increased participation in telehealth services. It recognizes the evolving nature of healthcare delivery and the necessity of providing taxpayers with the means to engage in digital healthcare platforms without the hindrance of tax penalties. This measure not only modernizes tax law but also reflects the growing importance of telehealth services in today’s healthcare landscape.

Summary

Senate Bill 364 aims to align state tax law with recent changes to the federal Internal Revenue Code, specifically regarding contributions to health savings accounts and telehealth services. By adopting these federal modifications, the bill permits individuals covered by high deductible health plans to claim state income tax deductions for their contributions to health savings accounts, even if their plans do not include deductibles for telehealth or remote care services. This legislation is seen as a necessary adjustment to facilitate better access to tax benefits for those utilizing telehealth options.

Contention

While the bill primarily focuses on tax benefit alignment, contention may arise regarding the implications for traditional healthcare payment structures. Some stakeholders may express concerns that expanding the use of health savings accounts and telehealth could lead to increased reliance on these services in a way that might detract from conventional healthcare access. Critics may argue that such shifts could disproportionately affect lower-income individuals who may not have the means to contribute to health savings accounts. Therefore, the discourse surrounding SB364 is likely to explore the balance between promoting digital health solutions and ensuring equitable access to comprehensive healthcare.

Companion Bills

No companion bills found.

Previously Filed As

WI AB364

Adopting federal tax law changes regarding contributions to a health savings account and telehealth services. (FE)

WI SB389

Adopting changes to the federal Internal Revenue Code for state tax purposes. (FE)

WI AB406

Adopting changes to the federal Internal Revenue Code for state tax purposes. (FE)

WI SB752

Modifying the tax treatment of college savings accounts and the employee college savings account contribution credit. (FE)

WI AB793

Modifying the tax treatment of college savings accounts and the employee college savings account contribution credit. (FE)

WI SB984

Adopting the federal student loan forgiveness tax exclusion for state tax purposes. (FE)

WI AB1082

Adopting the federal student loan forgiveness tax exclusion for state tax purposes. (FE)

WI AB781

Charges: health savings accounts: electricity.

WI HB1740

Income tax, state; contributions to Virginia College Savings Plan accounts.

WI SB230

Income tax: health savings accounts.

Similar Bills

No similar bills found.