WASHINGTON, DC, UNITED STATES, March 12, 2025 /
EINPresswire.com/ -- The
Home Care Association of America (HCAOA) proudly supports the reintroduction of the Credit for Caring Act, a bipartisan bill introduced by Senator Shelley Moore Capito (R-WV), Senator Michael Bennet (D-CO), Representative Mike Carey (R-OH-15), and Representative Linda Sánchez (D-CA-38) to provide a refundable tax credit for working family caregivers. This legislation aims to ease the financial burden on the millions of Americans who provide care for aging parents, spouses, and other loved ones with long-term care needs.
Across the United States, more than 48 million family caregivers provide unpaid care to aging or disabled relatives, often balancing these responsibilities with full-time jobs. Many caregivers face lost wages due to time off from work, a burden that disproportionately affects women, who make up nearly two-thirds of all family caregivers. The economic value of unpaid family caregiving is estimated to be over $600 billion annually, yet many caregivers struggle to afford even the most basic care-related expenses.
The Credit for Caring Act provides a tax credit of up to $5,000 for family caregivers, helping to offset the high costs of care. The credit would cover 30% of qualified expenses that exceed $2,000, ensuring that caregivers receive meaningful financial relief for the support they provide. Eligible expenses include respite care, home modifications to improve accessibility and safety, medical equipment and assistive technologies, lost wages for unpaid time off due to caring for a loved one, transportation costs for medical appointments, therapy sessions, and other essential services, and training and support programs for family caregivers to enhance their ability to provide care.
“Family caregivers are the backbone of our nation’s long-term care system, and the Credit for Caring Act is a critical step toward providing them with much-needed financial relief,” said Jason Lee, CEO of HCAOA. “By recognizing and supporting the millions of Americans who sacrifice their time and resources to care for loved ones, this bill strengthens families, empowers caregivers, and helps individuals maintain their independence.”
HCAOA urges Congress to swiftly pass this crucial legislation and provide caregivers with the recognition and financial relief they deserve. Lawmakers have a unique opportunity to support caregivers, reduce the strain on the healthcare system, and promote aging in place by passing the Credit for Caring Act.
HCAOA also supports other forms of home care-related tax relief such as the
Homecare for Seniors Act (H.R.1795, 118th Congress), which allows tax-exempt distributions from health savings accounts (HSAs) to be used for home care and the
Lowering Costs for Caregivers Act (H.R.138, 119th Congress), which allows individuals to use tax-free HSAs and flexible spending accounts on medical expenses for their parents and loved ones.
Nicole Rexer
Home Care Association of America
+ +1 202-742-5434
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