With the 2025 plan year right around the corner, this is the ideal time for plan sponsors to ensure that plan operations comply with evolving legislative and regulatory requirements. This client alert highlights important regulatory changes that will impact retirement plans and health and welfare plans in the coming year.
Read more here.The 2024 election results will create significant tailwinds for Republican legislative and regulatory priorities in US Congress, federal agencies, and state houses across the country. This client alert considers the outlook for pharmacy regulation under the second incoming Trump administration and a unified Republican Congress, as well as state-level pharmacy policies that may advance as Republican public policy momentum builds.
In this recently recorded webinar, McDermott+’s Debbie Curtis and Rodney Whitlock discuss the outcomes of the 2024 election, potential healthcare policy changes under the new administration and Congress, and the implications of election outcomes on healthcare policy heading into the lame duck session and in 2025.
On November 18, 2024, the Internal Revenue Service (IRS) released Internal Revenue Bulletin 2024-47, which includes proposed regulations designed to ensure that non-grandfathered group health plans and insurance issuers provide an accessible exceptions process for preventive services, allowing coverage without cost sharing if deemed medically necessary by an individual’s provider.
Learn more about new IRS guidance in the latest Weekly IRS Roundup published by McDermott’s Tax Group.
Will President-elect Donald Trump seek to repeal the Affordable Care Act once more, or will his administration opt for smaller-scale changes to the law? In this article, Alden Bianchi shares his predictions on the actions the incoming administration and Republicans may consider as they take control of the White House and Congress.
On October 29, 2024, the US Department of Justice (DOJ) issued a proposed rule to implement US President Joe Biden’s Executive Order (EO) 14117. This order aims to prevent countries of concern from accessing Americans’ sensitive personal data and US-government-related data. The proposal specifically includes health data as a category of sensitive personal data that could be exploited. Health insurers, service providers to health plans, and healthcare providers should review this proposed rule closely.
The Consolidated Appropriations Act (CAA), 2023 (Public Law 117-328), extended certain key virtual care flexibilities instituted during the COVID-19 public health emergency through December 31, 2024. This includes the telehealth safe harbor for health savings account-eligible high deductible health plans. Without congressional action, these waivers and flexibilities will end on December 31, 2024.
Read the latest update from McDermott+ for more information on these policies, relevant regulatory and congressional action, and the likelihood of further extensions before the end of this year.
Sarah Raaii recently joined McDermott+’s Maddie News on the Health Policy Breakroom Podcast to discuss proposed rules issued by the Biden administration that require health plans to cover certain over-the-counter services, including contraception items.
The Internal Revenue Service (IRS) recently released Internal Revenue Bulletin 2024-44. The Bulletin includes Notice 2024-71, which provides a safe harbor under Internal Revenue Code § 213(d), treating amounts paid for condoms as medical care expenses eligible for reimbursement under various health plans. It also includes Notice 2024-75, which expands the list of preventive care benefits that high-deductible health plans can provide without a deductible or with a lower deductible, including benefits for over-the-counter oral contraceptives and condoms.
The Internal Revenue Service (IRS) has announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2025. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2025. The Social Security Administration released separate adjustment amounts.
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