The Senate Tax Bill (HR 1 )recently passed will expand the break for high medical costs. According to reports, the bill preserve the deduction for medical expenses and lower the threshold for claiming it to 7.5% of adjusted gross income, from the current 10% but this would be temporary. By 2019 the threshold would return to 10%  effectively only lasting 1 year. People aged 65 and older who previously had a medical expense deduction of  7.5% will now see it rise to 10% with the Affordable Care … [Read more...] about The New Senate Tax Bill and its effect on Medicare costs