Long-Term Care Affordability Act

Summary

Long-Term Care Affordability Act This bill allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance. Specifically, it excludes such distributions from the gross income of an insured individual up to $2,500 for per individual in a taxable year. It also imposes reporting requirements on plans and insured individuals and requires a description of long-term care insurance arrangements and facts sheets for employers and workers.

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Timeline

1. 16 March 2022

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 16 March 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 March 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 March 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 March 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 March 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 March 2022

  Open at official source

Sponsors

• Ann Wagner · R · Sponsor
• Debbie Lesko · R · Cosponsor
• Dusty Johnson · R · Cosponsor
• Louie Gohmert · R · Cosponsor
• Rep. Fitzpatrick, Brian K. [R-PA-1] · R · Cosponsor
• Rep. Garbarino, Andrew R. [R-NY-2] · R · Cosponsor
• Rep. Van Duyne, Beth [R-TX-24] · R · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

• related to → Long-Term Care Affordability Act