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 proposes allowing people to use their tax-free health savings accounts and flexible spending accounts on medical expenses for their parents.

Currently, adult children are not able to take advantage of these tax-free accounts to cover expenses they incur on behalf of their aging parents, unless their parents are classified as dependents for tax purposes.

"There are an estimated 38 million family caregivers in the United States. Let's support caregivers as they support their loved ones," said Dr. Cassidy. "This bill lifts limitations and eases a financial challenge many families face."

Senator Rosen also emphasized the importance of supporting caregivers. She said, "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."

The Lowering Costs For Caregivers Act seeks to address the financial burden faced by caregivers by allowing them to use tax-free accounts to cover medical expenses incurred for their aging parents. This commonsense step aims to make caring for family members more affordable.

This bill follows Cassidy's previous efforts to lower prescription drug costs for seniors. Earlier this year, he introduced the Program of All-Inclusive Care for the Elderly (PACE) Part D Choice Act, which aims to offer older Americans significant cost savings by giving them greater choice between plans.

By introducing the Lowering Costs For Caregivers Act, Senators Cassidy and Rosen are taking steps towards providing financial relief to caregivers and ensuring that they have the necessary resources to support their aging parents' medical expenses.

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