What does Preamble of S 1565 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would allow expenses for parents to be considered as medical expenses. The bill's purpose is 'to allow expenses for parents to be taken into account as medical expenses, and for other purposes.'

What does SHORT TITLE. of S 1565 do?

This bill is formally titled the Lowering Costs for Caregivers Act of 2025.

What does HEALTH SAVINGS ACCOUNTS. of S 1565 do?

This section amends section 223(d)(2) of the Internal Revenue Code of 1986. The amendment inserts language regarding parents of individuals or their spouses. The amendment applies to amounts paid after December 31, 2025.

What does FLEXIBLE SPENDING AND HEALTH REIMBURSEMENT ARRANGEMENTS. of S 1565 do?

This section amends section 105 of the Internal Revenue Code of 1986. The amendment clarifies that health flexible spending arrangements or health reimbursement arrangements will not fail to meet requirements or result in taxable income solely because funds are used for medical care of a taxpayer's parent or their spouse's parent. Medical care is defined as in section 213(d), without regard to paragraph (1)(D) thereof. The amendment applies to expenses incurred after December 31, 2025.

What does ARCHER MSAS. of S 1565 do?

This section amends section 220(d)(2) of the Internal Revenue Code of 1986. The amendment inserts language to include parents of individuals or their spouses. The amendment applies to amounts paid after December 31, 2025.

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Lowering Costs for Caregivers Act of 2025 — S. 1565

Last updated: 5/1/2025 · Introduced: 5/1/2025

Author: Jacky Rosen (D-NV)

TL;DR (AI)

This bill allows expenses paid for the care of parents or a spouse's parents to be considered medical expenses for tax purposes.
It amends health savings accounts, flexible spending arrangements, and Archer MSAs to permit these funds to be used for parental medical care without penalty.
These changes apply to expenses incurred after December 31, 2025.

119th Congressin committeeHR. 138(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 3 more.

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