H.R. 10808
STORK Act
Summary:
• The "STORK Act" amends the Internal Revenue Code to allow individuals to make additional $2,000 contributions to a health savings account (HSA) for each child born to, placed for adoption with, or adopted by them
• The $2,000 increase per qualifying child applies only once per child and is limited to children who have not reached age 18 by the close of the taxable year
• Married couples may split the $2,000 increase between their individual HSAs as they choose, but the combined total cannot exceed $2,000 per qualifying child
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• The $2,000 increase per qualifying child applies only once per child and is limited to children who have not reached age 18 by the close of the taxable year
• Married couples may split the $2,000 increase between their individual HSAs as they choose, but the combined total cannot exceed $2,000 per qualifying child
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