Posted on Thursday, February 20, 2020 5:27 PM
Senators Gardner (R-CO) and Sinema (D-AZ) introduced the Homecare for Seniors Act, which would permit seniors over 65 to use their health saving accounts (HSAs) for homecare expenses that assist with everyday living.
HSAs offer a pre-tax opportunity to save for medical expenses. Currently, HSAs are not allowed to be used for home care expenses, like assistance with meals, personal care, or medication. These services can be critical in ensuring that seniors can remain in their homes and receive the help they need. The legislation would allow disbursements of HSA funds for qualified home care services
“Current law keeps seniors from being able to use the money they have saved in a health savings account to access homecare services,” said Senator Gardner. “Without homecare support, seniors can be forced to decide to move into a more restrictive, expensive setting. It is critical we give seniors the flexibility to use their savings to pay for invaluable homecare services and ensure they are able to choose to remain in their homes.”
Source: NAHC Report
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