summary
Introduced
02/05/2024
02/05/2024
In Committee
12/17/2024
12/17/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes.
AI Summary
This bill, the Lowering Costs for Caregivers Act of 2023, amends the Internal Revenue Code to allow expenses for parents to be taken into account as medical expenses for the purposes of Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs), Health Reimbursement Arrangements (HRAs), and Archer Medical Savings Accounts (Archer MSAs). This means that caregivers can use these tax-advantaged accounts to pay for medical expenses for their parents, in addition to their own expenses and those of their spouses. The changes made by this bill will apply to expenses incurred after December 31, 2023.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (31)
Vern Buchanan (R)*,
Aaron Bean (R),
Gus Bilirakis (R),
Yadira Caraveo (D),
Mike Carey (R),
Ed Case (D),
Kathy Castor (D),
Joaquin Castro (D),
Lori Chavez-DeRemer (R),
Monica De La Cruz (R),
Josh Gottheimer (D),
French Hill (R),
Jen Kiggans (R),
Darin LaHood (R),
Mike Lawler (R),
Seth Magaziner (D),
Max Miller (R),
Kevin Mullin (D),
Wiley Nickel (D),
Eleanor Holmes Norton (D),
Ilhan Omar (D),
Mary Peltola (D),
August Pfluger (R),
Darren Soto (D),
Tom Suozzi (D),
G.T. Thompson (R),
Mike Thompson (D),
Dina Titus (D),
Ritchie Torres (D),
Jeff Van Drew (R),
Debbie Wasserman Schultz (D),
Last Action
Referred to the Subcommittee on Health. (on 12/17/2024)
Bill Topics
Health
- ‐ Long-term Care and Elderly Issues
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/7222/all-info | 02/06/2024 |
| BillText | https://www.congress.gov/118/bills/hr7222/BILLS-118hr7222ih.pdf | 02/16/2024 |
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