H.R. 111: To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for health insurance premiums.
H.R. 111 status: Referred.
What this bill does
Overall score
Bill summary
OfficialThis 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...
Key analysis
Impact analysis
Environment
Benefits
- no direct impact
Risks
- no direct impact
Economy
Benefits
- reduces federal tax liability for individuals
- increases disposable income for those paying private insurance premiums
Risks
- potential reduction in federal tax revenue
- may incentivize individual plans over employer-sponsored coverage
Society
Benefits
- improves affordability of individual health care access
- expands financial support for families
Risks
- limited benefit for those who do not purchase individual plans
- potential for interaction complexity with ACA subsidies
How trustworthy & consequential it is
Confidence
highhigh
Information is complete and verified.
Analysis status
Full bill text (Congress.gov)
Source used for this bill's analysis.
Significant federal revenue loss is likely
Fiscal impact estimates are currently unavailable
Where it stands
Introduced
CompleteCommittee
CurrentReferred
Floor
UpcomingEnacted
UpcomingHow it affects your district
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