Bill > HR138

This bill aims to provide financial relief for caregivers by modifying tax rules related to healthcare spending accounts. Specifically, the bill allows individuals to use funds from Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs), Health Reimbursement Arrangements (HRAs), and Archer Medical Savings Accounts (MSAs) to pay for medical expenses of their parents, in addition to existing rules that allow spending on medical care for the individual, their spouse, and dependents. The bill expands the definition of eligible medical expenses to include care for parents, which means taxpayers can use pre-tax dollars from these healthcare accounts to cover their parents' medical costs. These changes would take effect for expenses incurred after December 31, 2024, providing caregivers with more flexibility in managing healthcare expenses for aging parents. By broadening the scope of allowable medical expense coverage, the bill seeks to reduce the financial burden on individuals who are caring for their parents' healthcare needs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/138/all-info