Financial Services Improving Noble and Necessary Caregiving Experience (FINANCE) Act
Topic:
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Proposal Overview
Name: Financial Services Improving Noble and Necessary Caregiving Experience (FINANCE) Act
Congress: 119th
Year: 2025
Sponsor and Co-Sponsors
Sponsor:
Senator Ed Markey (D-MA)
Co-Sponsors:
3 Democratic cosponsors
Companion Bill
None
Related Bills from Prior Congresses
Program Details
Overview: This bill amends the Older Americans Act to provide grant funding for financial planning services for family caregivers.
Family Caregiver Definitions
A family caregiver is (1) an adult family member or other person who provides home and community care, without payment, to an older individual or a person of any age with Alzheimer’s disease or a related disorder; or (2) is at least 55 years old and is the primary, live-in caregiver for a child or disabled individual.
Family caregivers do not include those whose primary relationship with the care recipient is based on a financial or professional agreement.
Grant Eligibility
Eligible applicants for the grants include states, local government agencies, nonprofit organizations, area agencies on aging, senior center providers, higher education institutions, or tribal organizations.
Grant Uses
Grant funds can be used to provide financial planning services, education on public benefits; care options, such as supports for paid and unpaid family caregivers; budgeting; care preferences of care recipients; debt management and bankruptcy; long-term care costs; and referrals to legal assistance providers.
Financing & Implementation
Program Administration
Administration for Community Living
Revenue Source(s)
Annual appropriations
Program Cost Estimate
Not specified