News from Washington Judge Stays DOL’s Retirement Security RuleOn July 25, a federal judge in Texas stayed the U.S. Department of Labor’s Retirement Security Rule ahead of its September 23 effective date. The judge granted a request for a preliminary injunction blocking the rule “until further order of the court.” The judge made clear the […]
HSA Studies & Analysis HSA-Like Options for Employees in High Demand, Survey ShowsBoth employers and employees are interested in a new type of health account similar to an HSA that would help employees pay for out-of-pocket health care costs, according to a new survey. The hypothetical plan could be paired with any health plan, not […]
News from Washington IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms, Flooding, Landslides, and MudslidesThe Internal Revenue Service announced tax relief for individuals and businesses in West Virginia that were affected by severe storms, flooding, landslides, and mudslides that began on April 11, 2024. These taxpayers now have until November 1, […]
HSA Studies & Analysis Expanding Pre-Deductible Coverage in HSAs Boosts Adherence to Certain MedicationsPatients with certain chronic conditions increased medication adherence when enrolled in HSA-qualified plans with pre-deductible coverage, a new study from EBRI found. Although the increases were relatively small, adherence rates already were relatively high, averaging 77% to 89% for most medications. […]
News from Washington IRS Provides Tax Relief for Taxpayers Impacted by Severe Storms in Mississippi; Deadlines Postponed to November 1, 2024The IRS announced tax relief for individuals and businesses in Mississippi that were affected by severe storms, straight-line winds, tornadoes and flooding that began on April 8, 2024. These taxpayers now have until November 1, […]
News from Washington DOL Pushes Back on Fiduciary Rule ChallengeThe Department of Labor answered one of two open lawsuits in the federal courts challenging the Retirement Security Rule on June 14. The regulator’s first response in court argued that the new rule is compliant with existing case law and is substantially different from a 2016 […]
News from Washington US Health Spending to Top $7.7 Trillion by 2032: CMSThe federal Centers for Medicare & Medicaid Services (CMS) expects national health spending to reach $7.7 trillion by 2032. Over the next decade, CMS projects health spending to grow by 5.6% per year on average, which is faster than the expected economic growth […]
News from Washington IRS: Kentucky Storm Victims Qualify for Tax Relief; Various Deadlines Postponed to November 1The Internal Revenue Service announced tax relief for individuals and businesses in parts of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides and mudslides that began on April 2, 2024. These taxpayers now have until November 1, 2024, […]
News from Washington IRS Announces Tax Relief for Taxpayers Impacted by Storms and Flooding in Massachusetts; Various Deadlines Postponed to July 31The Internal Revenue Service announced tax relief for individuals and businesses in parts of Massachusetts affected by severe storms and flooding that began on September 11, 2023.These taxpayers now have until July 31, 2024, […]
News from Washington EBSA Official Expresses Confidence in Legal Strength of Retirement Security RuleA day after an insurance agent advocacy group filed a motion to pause the Labor Department’s new retirement security rule, Timothy Hauser, Deputy Assistant Secretary of the Employee Benefits Security Administration, said that the new rule is different from the previous one […]