FIGS-Developed Healthcare is Human Act Introduced in Congress to Provide Federal Tax Credit for Healthcare Professionals

Key Terms

nonrefundable federal income tax credit financial

A nonrefundable federal income tax credit is a government allowance that directly reduces the amount of federal income tax owed, but it cannot produce a tax refund if the credit exceeds the tax due. Think of it like a coupon that lowers your bill but won’t leave you with change; for investors this matters because it affects a company’s reported tax expense, cash taxes paid, and the real value of tax-related incentives when assessing profitability and future cash flow.

medicare regulatory

Medicare is a large government-run health insurance program that primarily covers people aged 65 and older and certain younger people with disabilities. For investors it matters because Medicare acts like a huge customer and rule-maker for hospitals, drugmakers and medical-device companies—its coverage decisions, payment rates and regulatory policies can change demand, revenue and profit margins across the healthcare sector, similar to how a major client or regulator can shape a business’s prospects.

medicaid regulatory

Medicaid is a government-funded health insurance program that provides medical coverage to low-income individuals, families, elderly people and people with disabilities, administered jointly by the federal government and state governments in the United States. For investors, Medicaid matters because changes in eligibility, funding, or payment rules can alter patient volume and the prices hospitals, nursing homes, insurers and medical suppliers receive—similar to how a large customer or contract can shift a company’s revenue outlook.

health professional shortage area (hpsa) regulatory

A health professional shortage area (HPSA) is an official designation for a geographic area, population group, or facility that lacks enough primary care, dental, or mental health providers to meet local needs. Think of it like a grocery desert but for medical care: fewer providers mean higher demand and often special federal support or incentives to attract clinicians. For investors, HPSA status can signal greater patient demand, eligibility for government funding or loan repayment programs, and potential growth or policy-driven stability for health-care businesses serving the area.

Bipartisan legislation sponsored by Rep. Claudia Tenney (R-NY) and Rep. Steven Horsford (D-NV) recognizes healthcare professionals for their extraordinary sacrifices and addresses understaffing and burnout

SANTA MONICA, Calif.--(BUSINESS WIRE)-- FIGS, Inc. (NYSE: FIGS), the global leading healthcare apparel brand, announced the introduction of the Healthcare is Human Act, a milestone bipartisan bill sponsored by Representatives Claudia Tenney (R-NY) and Steven Horsford (D-NV). Developed in partnership with FIGS, the Tenney-Horsford legislation provides a federal tax credit of up to $6,000 per year to healthcare professionals serving communities most impacted by shortages — directly addressing low pay as a driver of burnout, turnover, and dangerous understaffing across the healthcare workforce.

The Healthcare is Human Act is designed to solve a critical problem facing the healthcare workforce. According to the federal Health Services and Resources Administration’s most recent report, more than 8,200 primary care, 7,200 dental, and 6,600 mental health shortage areas exist nationwide in rural and urban communities alike. To address these shortages, the nation needs to significantly increase the size of the healthcare workforce. This legislation provides a well-deserved financial reward to help retain the Awesome Humans who are currently working in these communities and an incentive to others to join them. Implementing this important legislation will ultimately lead to communities across the country receiving the care they deserve.

The bill introduction builds on momentum from FIGS’ Awesome Humans on the Hill advocacy day in June 2025, when 18 healthcare professionals joined actor Noah Wyle and his mother Marty Wyle (a nurse of 50 years) on Capitol Hill to call for bold action on fair pay and other critical healthcare workforce issues. Today’s introduction shows that their voices were heard.

Trina Spear, CEO and Co-Founder of FIGS: “Healthcare is human — it’s about real people who give everything of themselves to care for others. Yet too many are underpaid and undervalued, creating a deep unfairness for healthcare professionals as well as staffing shortages that cause serious social harm. The Healthcare is Human Act is historic: a federal bill to reward healthcare professionals with a tax credit for their extraordinary service. We are deeply grateful to Rep. Tenney and Rep. Horsford for leading this important bipartisan effort to recognize and support them.”

Representative Claudia Tenney: “Across Upstate New York and rural communities nationwide, too many families struggle to access timely medical care because there simply are not enough providers serving these areas,” said Congresswoman Tenney. “The Healthcare is Human Act provides meaningful incentives for doctors, nurses, and other licensed professionals to deliver care where it is needed most, including in health professional shortage areas and facilities serving our veterans. Strengthening our health care workforce is essential to ensuring families receive the care they deserve, and that rural and underserved communities are never left behind.”

Representative Steven Horsford: “Communities across Nevada know firsthand the consequences of healthcare workforce shortages. Every one of Nevada’s 17 counties, urban and rural alike, is designated as a Health Professional Shortage Area. As a result, too many Nevadans are forced to travel farther, wait longer, or go without the care they need. The Healthcare is Human Act provides a well-deserved financial incentive through a tax credit to help recruit and retain healthcare providers serving similarly situated communities. The least we can do is provide meaningful support for these frontline workers who dedicate their lives to caring for our communities.”

Farida Labaran, RN, FIGS Ambassador: “When we came to Capitol Hill in June, we told Congress what life looks like for healthcare professionals — deep meaning and satisfaction in caring for others, and also the long hours, and the financial stress that many of us face to pay for our education and training. To see this bill introduced shows that our stories made an impact. This is a step toward a future where healthcare professionals feel more respected, supported, and truly valued.”

What the bill does:

• Creates a nonrefundable federal income tax credit of up to $500 per month for healthcare professionals with annual income of under $200,000 (or $400,000 for joint filers/surviving spouses).
• Generally applies to licensed healthcare professionals providing at least 80 hours per month of care for at least 8 months of the year in a qualifying facility.
• Qualifying facilities must be enrolled in Medicare or Medicaid and located in a federally designated Health Professional Shortage Area (HPSA), or be a Department of Veterans Affairs medical facility.

About FIGS

FIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. We create technically advanced apparel and products that feature an unmatched combination of comfort, durability, function and style. We share stories about healthcare professionals’ experiences in ways that inspire them. We build meaningful connections within the healthcare community that we created. Above all, we seek to make an impact for our community, including by advocating for them and always having their backs.

We serve healthcare professionals both in the U.S. and internationally. We also serve healthcare institutions through our TEAMS platform.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260313393900/en/

Investors:

Tom Shaw

IR@wearfigs.com



Media:

Todd Maron

press@wearfigs.com

Source: FIGS, Inc.