H.R. 7107 · 117th Congress
Long-Term Care Affordability Act
- Stage
- In committee
- Sponsor
- Ann Wagner
- Introduced
- 2022-03-16
- Latest action
- 2022-03-16 · Introduced in House
Summary
Long-Term Care Affordability Act
This bill allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance. Specifically, it excludes such distributions from the gross income of an insured individual up to $2,500 for per individual in a taxable year.
It also imposes reporting requirements on plans and insured individuals and requires a description of long-term care insurance arrangements and facts sheets for employers and workers.