HOPE Act of 2025 introduces HOPE Accounts, tax-exempt accounts for eligible individuals to cover out-of-pocket medical expenses.
The HOPE Act of 2025 amends the Internal Revenue Code to establish HOPE Accounts, tax-exempt accounts for eligible individuals to cover out-of-pocket medical expenses. Eligible individuals can contribute up to $4,000 for self-only coverage or $8,000 for family coverage. Contributions to these accounts are not included in gross income if used for qualified medical expenses. Distributions not used for qualified medical expenses are taxable, with an additional 30% tax imposed.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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