HSA

H.R. 3800, the Chronic Disease Flexible Coverage Act introduced by Representative Brad Wenstrup (R-OH), and co-sponsor Representative Earl Blumenauer (D-OR), passed the House by a voice vote.

Representatives Claudia Tenney (R-NY), and co-sponsor Deborah Ross (D-NC), have introduced the People and Animals Well-being (PAW) Act. According to a press release, the bill would allow pet owners to use their health savings account or flexible spending account to pay for up to $1,000 for veterinary care or pet health insurance.

The Department of Labor has issued a compliance assistance release clarifying that cybersecurity guidance issued in April 2021 applies to all types of ERISA plans, including health and welfare plans and all employee pension benefit plans. The guidance package includes tips for hiring a service provider, cybersecurity program best practices, and online security tips.

Representative Blake Moore (R-UT) along with five other Congressmen have introduced the Health Out-of-Pocket Expense (HOPE) Act, to enable more Americans with most types of insurance coverage to save for health care costs with individual and employer contributions.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, landslides, and mudslides in Kentucky.

Senator Rick Scott (R-FL) and Representative Kat Cammack (R-FL) have introduced a bicameral proposal titled the Increasing Value for Families with HSAs Act, to help individuals and families better plan and pay for medical expenses like in vitro fertilization.

The IRS has announced the postponement of certain tax-related deadlines for victims of hurricane Beryl in Texas. The tax relief postpones various tax filing deadlines that began on July 5, 2024.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 30, 2024, for Arkansas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of May 24 – 27, 2024.

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 17, 2024, for Texas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of April 26, 2024, and continuing.