Bill 119 s 653, also known as the Health Care Sharing Ministry Act, aims to make changes to the Internal Revenue Code of 1986. The main purpose of this bill is to classify membership in a health care sharing ministry as a medical expense for tax purposes. This means that individuals who are members of these ministries would be able to deduct their membership fees as a medical expense on their taxes. In addition to this main provision, the bill also includes other purposes related to health care sharing ministries. These purposes are not explicitly outlined in the summary, but may include additional tax benefits or regulations for these types of organizations. Overall, the Health Care Sharing Ministry Act seeks to provide financial relief for individuals who are members of health care sharing ministries by allowing them to deduct their membership fees as a medical expense. This could potentially make health care sharing ministries a more attractive option for individuals seeking alternative health care coverage.
Bill 119 s 653, also known as the Health Care Sharing Ministry Act, aims to make changes to the Internal Revenue Code of 1986. The main purpose of this bill is to classify membership in a health care sharing ministry as a med...