HOPE Act of 2024
See how your representatives voted on this bill.
DeepSyte matches this bill to the issues you care about and shows whether your reps' votes line up — not party, not press releases. Take the 2-minute values quiz to see your alignment.
Alignment with your views
Sign in and take the values quiz to see how this bill lines up with what you've said.
Summary
The HOPE Act of 2024 establishes Health Out-of-Pocket Expense (HOPE) Accounts, a new tax-advantaged savings account designed to help individuals pay qualified medical expenses. Eligible individuals with minimum essential health coverage can contribute up to $4,000 annually (or $8,000 for family coverage) to these accounts, with contributions from certain low-income individuals excluded from gross income. Distributions used for qualified medical expenses are tax-free, while non-qualified distributions are subject to income tax and a 20% penalty. The accounts cannot be used in conjunction with health savings accounts, flexible spending arrangements, or health reimbursement arrangements in the same month.
Values analysis
Sign in and take the values quiz to get a personalized read on how this bill lines up with your positions.
How your representatives voted
Sign in to see how your representatives voted on this bill.