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- S.4820
S.4820: Long-Term Care Affordability Act
About This Bill
- Introduced Oct. 20, 2020
- Latest Major Action Oct. 20, 2020
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in Senate - Oct. 20, 2020
Bill Summary
Long-Term Care Affordability Act This bill 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...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Oct. 20, 2020 |
Read twice and referred to the Committee on Finance.
|
| Oct. 20, 2020 |
Introduced in the Senate by Patrick J. Toomey (R-Pa.) |