Certain Coverage or Benefits Allowed with Health Savings Account Contributions. Telemedicine can continue to be offered to employees participating in a high-deductible health plan without the employees in such a plan losing the ability to make tax-deductible contributions to a Health Savings Account. This is effective back to January 1, 2025, so employees whose employers continued telemedicine coverage after 2024 will still be able to make a tax-deductible contribution to their HSA. Certain other changes related to payments by individuals for “direct primary care” are now permitted by persons contributing to an HSA.
Overtime Deduction for Employees and Employer Related Reporting. The promised no tax on overtime does not mean such amounts are excluded from the employee’s W-2 income or from calculating the employee’s retirement plan compensation and related employer contributions. This provision is effective for amounts paid on or after January 1, 2025, and through December 31, 2028, so this is a temporary change. For the individual, this deduction phases out based on the individual’s modified adjusted gross income in excess of $150,000 ($300,000 for married filing joint returns), so the deduction may not be as great for some individuals. Overtime pay remains subject to income tax withholding, at least until the Internal Revenue Service (“Service”) issues guidance altering the withholding rules. Overtime pay is pay in excess of the “regular rate of pay” under the Fair Labor...
The cost and pricing of pharmaceuticals are matters of substantial scrutiny. In March 2025, a jury in an Illinois federal court decided in favor of a pharmacy chain that its false claims for medica...