HCAOA Supported EARN Act Provision Makes Its Way into Congressional Spending Bill

​In a big legislative win for home care, a provision of the EARN Act, heavily supported by HCAOA, was included in Congress’ recent spending bill. 

Section 334 of the Omnibus Spending bill permits retirement plans to distribute up to $2,500 per year for the payment of premiums for certain specified long-term care insurance contracts. Distributions from plans and IRAs to pay such premiums would be exempt from the additional 10% tax on early distributions.
 
HCAOA thanks members for contacting their legislators by phone or email through the HCAOA Legislative Advocacy Network in support of the EARN Act.