S. 3254 — Introduced in Senate

II 118th CONGRESS 1st Session S. 3254 IN THE SENATE OF THE UNITED STATES November 8, 2023Ms. Rosen (for herself and Mr. Cassidy) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes. 1. Short title This Act may be cited as the Lowering Costs for Caregivers Act of 2023. 2. Health savings accounts (a) In general Subparagraph (A) of section 223(d)(2) of the Internal Revenue Code of 1986 is amended by inserting , any parent of either such individual or such spouse after the spouse of such individual. (b) Effective date The amendment made by this section shall apply to amounts paid after December 31, 2023. 3. Flexible spending and health reimbursement arrangements (a) In general Subsection (b) of section 105 of the Internal Revenue Code of 1986 is amended by adding at the end the following: A health flexible spending arrangement or health reimbursement arrangement shall not fail to be treated as meeting the requirements of this subsection or section 106, and no amount shall be included in gross income of the taxpayer, solely because, under the arrangement, the taxpayer may use amounts contributed to such arrangement for medical care (as defined in section 213(d), without regard to paragraph (1)(D) thereof) for a parent of the taxpayer or of the spouse of the taxpayer.. (b) Effective date The amendment made by this section shall apply to expenses incurred after December 31, 2023. 4. Archer MSAs (a) In general Subparagraph (A) of section 220(d)(2) of the Internal Revenue Code of 1986 is amended by inserting , any parent of either such individual or such spouse after the spouse of such individual. (b) Effective date The amendment made by this section shall apply to amounts paid after December 31, 2023.