Lowering Costs for Caregivers Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Lowering Costs for Caregivers Act of 2025, modifies the Internal Revenue Code to allow expenses related to parents to be considered as medical expenses for tax purposes. It expands the categories of healthcare expenses that can be deducted through Health Savings Accounts, Flexible Spending Arrangements, and Archer MSAs. Specifically, it allows taxpayers to use funds contributed to these accounts to cover costs associated with their parents or their spouses’ parents.
Key provisions
- Allows expenses for parents to be treated as medical expenses for tax deduction purposes.
- Expands Health Savings Account (HSA) eligibility to include expenses for parents.
- Allows Flexible Spending and Health Reimbursement Arrangements to cover expenses for parents.
- Extends Archer MSA coverage to include expenses for parents.
Who is affected
- Taxpayers
- Parents
- Spouses
- Healthcare providers
- Individuals utilizing HSAs, FSAs, and Archer MSAs
Notable changes
- Creates a new category of medical expenses that includes costs for parents.
- Modifies existing tax-advantaged accounts to accommodate parental care expenses.
Bill text
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Sponsors
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5 on record
Primary sponsor
Cosponsors
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