The bill S. 5633 proposes the creation of Medicare Flex Fund Accounts (FFAs) to help individuals with out-of-pocket medical expenses. These accounts would be tax-exempt and could receive contributions from the government or Medicare Advantage plans, although they cannot be...
Simple Explanation
The bill is like giving people a special piggy bank called a Medicare Flex Fund Account to help pay for doctor visits and medicine. The money in this piggy bank doesn't get taxed, but it can't be used like regular insurance for certain things, and everyone has to wait until 2026 to start saving in it.