HB 604

Abstract

Virginia National Guard member benefits; healthsavings accounts. Provides that a member of the Virginia NationalGuard may elect to receive, in lieu of any tuition assistance grants,a matching contribution from the state to a health savings account.The Department of Military Affairs shall establish a health savingsaccount for any member who elects to receive this benefit. The matchingcontribution shall equal the member's contribution up to the maximumamount allowable by federal law. In order to qualify, a member must(i) have a minimum remaining obligation of two years, (ii) have satisfactorilycompleted required initial active duty service, (iii) be satisfactorilyperforming duty in accordance with regulations of the National Guard,and (iv) be eligible for such an account under federal law. The billalso provides that in the event that a member ceases to be eligiblefor a health savings account, by reason of being called to activeduty military service or otherwise, all contributions from the stateshall stop and the Department of Military Affairs shall provide noticeto the member of the loss of eligibility.