Wednesday, December 4, 2019

Coalition Letters to Congress on the Medical Expense Deduction

Dana Ritchie

AHCA/NCAL recently signed onto AARP driven House and Senate letters to members of Congress around the medical expense deduction. Specially, the letters urge support for the Medical Expense Savings Act (S. 110/H.R. 2073), which is bipartisan legislation that would make permanent the 7.5 percent threshold for the medical expense deduction. The letters also ask to support an extension of the 7.5 percent threshold in an end-of-year legislative package. Without action, 4.4 million Americans with high medical costs will face an unexpected tax increase when they file their returns in the coming months. For more than 75 years, Americans with high health care costs have been able to deduct medical expenses from their taxes. For the millions of Americans who annually take this deduction, it provides important tax relief which helps offset the costs of acute and chronic medical conditions. This includes costs associated with long-term care, assisted living, and nursing homes.

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