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United States · Bill · S

S. 4820 (116th)

Long-Term Care Affordability Act

referredUnited States· United States Congress· EN

Introduced

20 October 2020

Last action

20 October 2020 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Toomey, Patrick [R-PA]

Subjects

Healthcare, Taxation

Source updated

3 January 2025

Healthcare · Taxation

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 October 2020

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 20 October 2020

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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Leesvertaling

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 20 October 2020

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 20 October 2020

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 20 October 2020

    Open at official source

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Sponsors

Related records

Sources

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