Tax Relief: Health Care Sharing Ministry Fees Treated as Medical Expenses.
This bill allows individuals participating in Health Care Sharing Ministries (HCSMs) to deduct their membership fees, shared medical expenses, and administrative costs as medical expenses on their federal tax returns. Effective from 2025, this change provides potential tax relief for participants who itemize their deductions. The legislation also clarifies that these ministries are not considered traditional health plans or insurance for tax purposes.
Key points
Membership fees and shared costs for Health Care Sharing Ministries become deductible medical expenses for tax purposes.
The change applies to tax years beginning after December 31, 2024.
HCSMs are explicitly defined as not being health plans or insurance under the Internal Revenue Code.
Expired
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