GOP plan to eliminate medical expense deductions spooks patients
The tax reform bill introduced by Republicans in the U.S. House last week included a provision that could be bad news for patients receiving bad news. The GOP proposal eliminates the ability for individuals to itemize their federal income taxes to deduct medical expenses that exceed 10 percent of their total income.
A recent article in the New York Times examines stories of middle-class Americans who have relied on the tax deduction to deal with significant healthcare costs. One woman, 34-year-old Adrienne Lynch from Austin, Texas, was direct in her view of the proposed changes.
“We have spent around $43,586, and that won’t be the last of it for 2017,” she Lynch. “To go after this is a gut punch.”
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Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.