Allows additional contributions to a health savings account for the birth or adoption of a child.

The Savings for Tomorrow’s Opportunities, Raising Kids Act, or the STORK Act, amends the Internal Revenue Code to allow additional contributions to a health savings account in the case of the birth or adoption of a child. Specifically, it increases the contribution limit by $2,000 for each qualifying child born to, placed for adoption with, or adopted by an individual before the close of the taxable year. The increase applies to both single and married individuals, with the latter able to divide the increase as they elect.

Allows additional contributions to a health savings account for the birth or adoption of a child.

The Savings for Tomorrow’s Opportunities, Raising Kids Act, or the STORK Act, amends the Internal Revenue Code to allow additional contributions to a health savings account in the case of the birth or adoption of a child. Specifically, it increases the contribution limit by $2,000 for each qualifying child born to, placed for adoption with, or adopted by an individual before the close of the taxable year. The increase applies to both single and married individuals, with the latter able to divide the increase as they elect.