GOP tax plan threatens valuable, versatile medical deduction
Several million people unlucky enough to face big medical bills not covered by their insurance would lose a valuable and versatile deduction under the House GOP tax bill. Groups representing older people and patients are trying to save it.
"Anybody who is paying for the cost of nursing home care is paying a great deal of money, and they are going to lose that deduction, and their taxes are going to go up," said Thomas DeCoursey, a retired lawyer from Kansas, in his 70s.
He relies on the deduction to help offset costs associated with nursing home care for his wife, who has Alzheimer's. Some of his own medical expenses also factor in. DeCoursey estimates that in a couple of years their annual costs will pass $100,000.
"There are a lot of people in my shoes," said DeCoursey, who lives in Leawood, a well-to-do Kansas City suburb that voted for President Donald Trump last year.
https://www.msn.com/en-us/money/healthcare/gop-tax-plan-threatens-valuable-versatile-medical-deduction/ar-AAux2IW?li=BBnbfcN&ocid=edgsp