US SB4820 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance. Specifically, it excludes such distributions from the gross income of an insured individual up to $2,500 for per individual in a taxable year. It also imposes reporting requirements on plans and insured individuals and requires a description of long-term care insurance arrangements and facts sheets for employers and workers.
Title
Long-Term Care Affordability Act
Sponsors
| Sen. Pat Toomey [R-PA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-10-20 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4820/all-info |
| Text | https://www.congress.gov/116/bills/s4820/BILLS-116s4820is.pdf |
