Washington, D.C. — Today, Senator Ted Budd (R-NC) introduced the Health Sharing Ministry Tax Parity Act, which would allow families to deduct the cost of a health sharing ministry membership from their annual tax bill.
Health sharing ministries are faith-based nonprofits that enable members to share health expenses. The bill would level the playing field between health sharing ministries and traditional insurance, making it easier for more families to afford a health sharing ministry membership.
Senator Budd said in a statement:
“At a time when health insurance premiums and inflation are making it difficult for families to afford health care coverage, action is needed to offer more options. The Health Care Sharing Ministry Tax Parity Act would allow people to offset the cost of a health sharing ministry membership by deducting it from their taxes. Faith-based nonprofits like health care sharing ministries do great work helping Americans afford health care, and my bill makes it easier for more people to pursue this option.”
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