Establishes the New York health care savings act which authorizes the establishment of health care savings accounts to allow residents to save money for the payment of qualified health care related expenses

Summary

The bill establishes the New York State Health Care Savings Program, allowing individuals and families to open tax‑advantaged accounts for costs such as premiums, deductibles, copays and long‑term care. The state comptroller, together with selected financial organizations, will oversee the accounts, set fees, and ensure compliance. It is intended to give residents a dedicated way to save for health‑care needs.

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