Regulatory and Legislative

Proposal Would Expand Medical Expense Coverage for Caregivers

Representatives Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced H.R. 7222, the Lowering Costs for Caregivers Act. The bill would allow caregivers to cover medical expenses for their parents or spouse from their health savings account (HSA), health flexible spending arrangement (FSA), health reimbursement arrangement (HRA), or medical savings account (MSA) — regardless of whether they were a dependent for tax purposes.