Washington, D.C. – U.S. Senators Cory Gardner (R-CO) and Kyrsten Sinema (D-AZ) introduced the Homecare for Seniors Act today, which will allow individuals over 65 the ability to use savings from their tax-free health savings accounts (HSAs) for qualified homecare expenses that assist seniors with everyday tasks of daily living. This bill is companion legislation to H.R. 2878, which was introduced by U.S. Representatives Katie Porter (CA-45), Adrian Smith (NE-3), John Larson (CT-1), and Jackie Walorski (IN-2).
HSAs provide individuals a pre-tax opportunity to save for medical expenses. Currently seniors who retire with an HSA are not allowed to use those savings for homecare expenses, like assistance with meals, personal care, or medication. These types of critical services ensure that seniors can remain in their homes and get the assistance they need.
“Current law keeps seniors from being able to use the money they have saved in a health savings account to access homecare services,” said Senator Gardner. “Without homecare support, seniors can be forced to decide to move into a more restrictive, expensive setting. It is critical we give seniors the flexibility to use their savings to pay for invaluable homecare services and ensure they are able to choose to remain in their homes.”
“Arizona seniors who’ve paid into Health Savings Accounts deserve the option to use their money for home care. Ensuring health savings can be used for home care increases access to services our loved ones need to stay safe at home, provides relief to family caregivers, and helps Arizona seniors save money,” said Senator Sinema.
“With health care costs ever growing, the home is the ideal and most efficient setting for seniors in need of assistance with activities of daily living. Relaxing restrictions on distributions of health savings account funds is a simple way to open up access to these services,” said Calvin McDaniel, Director of Government Affairs for the National Association for Home Care and Hospice.
Gardner and Sinema’s legislation is endorsed by the Homecare Association of America, Home Instead, the National Association for Home Care and Hospice, Leading Age, the National Alliance for Caregiving, the Alzheimer’s Foundation, the International Franchise Association, and the Caregiver Action Network.
Cory Gardner is a member of the U.S. Senate serving Colorado. He sits on the Energy & Natural Resources Committee, the Foreign Relations Committee, the Commerce, Science, & Transportation Committee, and is the Chairman of the Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy.
Go to Source