As we prepare for another change in Administration in the White House, it is crucial for employers and plan sponsors to stay informed and prepared. While much of what lies ahead is speculative, understanding these possible changes can help employers navigate the uncharted waters of employee benefits. Following is an overview of potential changes we may see under a second Trump Administration and their implications.
Health Savings Accounts (HSAs) Expansion: A New Horizon?
The Trump Administration has hinted at expanding Health Savings Accounts (HSAs). This could mean more flexibility and tax savings for employers and employees. However, the specifics remain uncertain. Employers might consider how these expanded options might impact their current benefit plans and prepare for potential regulatory changes.
Affordable Care Act (ACA) Revisions: What Could Change?
The complete repeal and replacement of the ACA is not likely. However, the Trump Administration has indicated it is exploring alternatives to enhance our healthcare system. Changes to employer mandate requirements, essential health benefits, and wellness programs are all on the table. Staying compliant with new reporting requirements to the IRS and DOL will be crucial.
Health Care Policy: Transparency and Reform
The Lower Costs, More Transparency (LCMT) Act includes site-neutral payment reform and promotes transparency in hospital billing. Various acts aimed at pharmacy benefit manager transparency and accountability...
Trump Truth Social posts continue to spark explosive reactions from Democrats and Republicans alike. Just this month, a racist video depicting the Obamas triggered unprecedented bipartisan backlas...