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Tax relief for senior home care from health savings accounts

This new act allows funds from Health Savings Accounts (HSAs) to be used for certain home care expenses for seniors. This includes assistance with daily activities like eating or bathing, provided the services are delivered by licensed providers. The aim is to make it easier to finance support for older individuals in their own homes.
Key points
Expansion of HSA funds usage to cover specific home care services.
Services must be provided by licensed providers and include at least three of seven listed activities (e.g., assistance with eating, bathing).
Prohibition on using funds for services provided by close relatives of the care recipient.
The Department of Health and Human Services will raise public awareness about these new HSA uses.
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Additional Information
Print number: 118_HR_1795
Sponsor: Rep. Smith, Adrian [R-NE-3]
Process start date: 2023-03-24