Central Louisiana News

WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Jacky Rosen (D-NV) have introduced the Lowering Costs For Caregivers Act, a bill aimed at making it more affordable for adult children to support their aging parents' medical expenses. The bill seeks to lower costs for caregivers by allowing them to use their tax-free health savings accounts and flexible spending accounts for their parents' medical expenses.

Under the current system, adult children are unable to use these tax-free accounts to cover expenses incurred on behalf of their aging parents, unless their parents are classified as dependents for tax purposes. The Lowering Costs For Caregivers Act aims to remove this limitation and ease the financial burden faced by many families.

Senator Cassidy highlighted the importance of supporting caregivers, stating, "There are an estimated 38 million family caregivers in the United States. Let's support caregivers as they support their loved ones." He emphasized that the bill would lift limitations and address the financial challenge faced by many families.

Senator Rosen echoed Cassidy's sentiments, emphasizing the role of caregivers in Nevada families. She stated, "Caregivers are the backbone of many Nevada families, often taking on additional costs when providing care for a family member. At a time of high inflation and rising costs, I'm continuing to take action to lower costs for hardworking Nevada families." Rosen further explained that the bill would allow caregivers to use tax-free accounts to cover the medical expenses they incur for their aging parents, making caring for family members more affordable.

This bipartisan legislation builds on Cassidy's previous efforts to address healthcare costs for seniors. Earlier this year, he introduced the Program of All-Inclusive Care for the Elderly (PACE) Part D Choice Act, which aimed to lower prescription drug costs for seniors by offering them greater choice between plans.

The Lowering Costs For Caregivers Act is a commonsense step towards reducing the financial burden on caregivers and making healthcare for aging parents more affordable. With an estimated 38 million family caregivers in the United States, the bill aims to provide much-needed support to those who selflessly care for their loved ones.

To find out more, go to this link: https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-rosen-introduce-bill-to-lower-costs-for-caregivers