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US SB653
Bill
AI Summary
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Amends Internal Revenue Code Section 213(d)(1) to classify health care sharing ministry membership fees as deductible medical expenses, including shared medical costs and administrative fees
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Adds new Section 7702C establishing that health care sharing ministries shall not be treated as health plans or insurance for federal tax purposes
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Health care sharing ministries are defined by reference to existing Section 5000A(d)(2)(B)(ii), which covers faith-based organizations where members share medical expenses
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Effective date is for taxable years beginning after December 31, 2025
Legislative Description
A bill to amend the Internal Revenue Code of 1986 to treat membership in a health care sharing ministry as a medical expense, and for other purposes.
Taxation
Last Action
Read twice and referred to the Committee on Finance.
2/20/2025