Bill > HR5612

This bill, called the "Cost-of-Living Fairness Act," proposes to modify how certain insurance policy premium payments are considered when determining an individual's eligibility for federal, state, or local benefits and assistance programs. Specifically, the bill requires that payments made for specific types of insurance policies be deducted from an individual's reported income and resources when calculating benefit eligibility. The covered insurance policies include those for passenger motor vehicles registered under state law, insurance policies that protect against liability, loss of life, health, or property damage for homeowners or renters, and flood insurance policies for a principal residence (including those issued under the National Flood Insurance Act or private flood insurance policies). By allowing these insurance premium payments to be subtracted from income calculations, the bill aims to potentially help individuals qualify for more assistance or receive higher benefit amounts by reducing their apparent income. The bill provides precise definitions for terms like "insurer," "passenger motor vehicle," and "State" by referencing existing federal code, ensuring clarity and consistency in its implementation.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/5612/all-info