News from Washington DOL Denies Request to Extend Fiduciary Rule Comment PeriodAssistant Secretary of the Labor Department’s Employee Benefits Security Administration, Lisa Gomez, denied a request by industry trade groups to extend the comment period on Labor’s fiduciary rule. Gomez said in a letter that “EBSA believes that its current proposal reflects significant input it […]
News from Washington Sen. Rosen Thinks You Should Be Able to Use Your Health Savings Account on Your Aging ParentsNevada Democratic Sen. Jacky Rosen introduced legislation she believes could make it a little easier for caregivers of aging parents. The bill, which she cosponsored with Sen. Bill Cassidy (R-LA) would allow people to use their […]
News from Washington DOL, White House Unveil Latest Fiduciary Proposal to Cover One-Time Rollover AdviceThe Department of Labor unveiled a new proposed rule to revise the term “fiduciary” and require rollover advice be in the best interest of the saver. The rule would change the fiduciary definition by removing the “regular basis” prong of the […]
News from Washington New Prohibited Transaction Exemption Procedures Could Be Coming SoonFinal regulations updating the existing procedures governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of ERISA, the Internal Revenue Code and the Federal Employees’ Retirement System were submitted to the White House Office of Management & Budget […]
News from Washington IRS Postpones Tax-Filing and Tax-Payment Deadline to November 16 for California Storm VictimsOn October 16, the IRS further postponed tax deadlines for most California taxpayers. In the wake of last winter’s natural disasters, the normal spring due dates had previously been postponed to October 16. As a result, eligible individuals will now […]
News from Washington Ways and Means Eyes HSA PackageHouse Ways and Means Committee Republicans look to move to the House floor a package of bills the panel approved earlier this year to boost HSAs. The committee aims to combine the four bills it approved in June and September into one bill so the plans are […]
News from Washington Court Strikes Down HHS Rule Allowing Insurers to Exclude Co-Pay AssistanceA federal judge has struck down a Trump administration rule that allowed health insurers to exclude drug manufacturer co-pay assistance towards a beneficiary’s out-of-pocket costs. The court ruling means that insurers are now precluded by federal regulation from implementing co-pay accumulator programs […]
News from Washington Ways and Means Advances Legislation Expanding HSA BenefitsThe House Ways and Means Committee approved legislation on September 28 that would allow more individuals to save for and afford health care costs by expanding eligibility requirements and contribution limits for Health Savings Accounts. The legislation now goes to the full House of Representatives. […]
News from Washington Reps. Cammack, Steube Introduce ACCESS Act to Make HSAs Available to Millions of AmericansCongresswoman Kat Cammack (R-FL-03) and Congressman Greg Steube (R-FL-17) introduced a fiscally conservative plan to make HSAs available to five million lower-income Americans. The bill would allow individuals to elect to receive contributions to an HSA in lieu of reduced […]
News from Washington House Lawmakers Unveil Bipartisan Legislation Tackling Health Care Cost and Price TransparencyHouse members from three key committees introduced a bipartisan health care bill aimed at addressing price transparency, prescription drug costs and workforce investment. The legislation includes provisions that would require hospitals to publicize the standard prices for all items and services […]