Search Results for keywords:"archer medical savings accounts"

Search Results: keywords:"archer medical savings accounts"

H. R. 7222 — To amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes.
February 05, 2024
Status:Introduced in House
Congress:118
Words:461
H. R. 7222, known as the “Lowering Costs for Caregivers Act of 2023,” proposes changes to the Internal Revenue Code of 1986 to classify expenses for parents as medical expenses. This would allow individuals to use Health Savings Accounts, Flexible Spending and Health...
Simple Explanation
H. R. 7222 is a bill that wants to make it cheaper for people to take care of their parents by letting them use special savings accounts for health expenses, without having to pay extra taxes. This change would start after 2023.
H. R. 8049 — To amend the Internal Revenue Code of 1986 to prohibit treatment of certain distributions and reimbursements for certain abortions as qualified medical expenses.
April 17, 2024
Status:Introduced in House
Congress:118
Words:664
H.R. 8049, titled the “Protecting Life in Health Savings Accounts Act,” seeks to amend the Internal Revenue Code of 1986. The bill proposes that distributions and reimbursements for certain abortions should not be considered qualified medical expenses, except in cases involving rape, incest,...
Simple Explanation
H.R. 8049 wants to change the rules so that if people use certain savings accounts to pay for some types of abortions, those payments wouldn't count as normal medical expenses. But, if the abortion is needed because of rape, incest, or to save the woman's life, then it's okay.

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