The new Senate health bill abolishes the following Obamacare taxes: 1) Individual Mandate Tax; 2) Employer Mandate; 3) Medicine Cabinet Tax; 4) Flexible Spending Account Tax; 5) Chronic Care Tax; 6) Health Insurance Tax; 7) Medical Device Tax; 8) Tax on prescription medicine; 9) Tax on Medicare Part D retiree prescription drug coverage; 10) Health Savings Account (HSA) Withdrawal Tax; and 11) 10% excise tax on small businesses with indoor tanning services. The Senate bill also delays the “Cadillac” tax on employer-provided insurance until 2026 and doubles the maximum HSA contribution from $3,400 to $6,550 for individuals and from $6,750 to $13,100 for families. The Senate bill also allows Americans to use HSA funds to pay for health insurance premiums.
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