Tax Relief and Expanded Medicare Coverage for Hearing and Vision
This act modifies state and local tax deductions for high-income individuals and expands Medicare to include hearing and vision care services. This could lead to potential tax savings for some groups and new access to hearing and vision healthcare for Medicare beneficiaries.
Key points
Changes to SALT deductions: The limit on state and local tax deductions for individuals with adjusted gross income of $400,000 or more will be modified, with a new cap of $60,000, which will be phased down based on income. Billionaires (assets over $1 billion) will not be able to deduct these taxes.
Medicare coverage for hearing care: Starting January 1, 2025, Medicare will cover audiology services, including hearing assessments and aural rehabilitation, as well as hearing aids for individuals with moderately severe, severe, or profound hearing loss (once per ear every 5 years).
Medicare coverage for vision care: Starting January 1, 2025, Medicare will cover routine eye examinations and contact lens fitting services (once every 2 years), as well as conventional eyeglasses and contact lenses (once every 2 years, with price limitations).
Expired
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