Legislative updates

Representatives Greg Steube (R-FL) and co-sponsor Kat Cammack (R-FL) have introduced H.R. 1157, the Affordable Care and Comprehensive Economic Support through Savings (ACCESS) Act. According to a press release, the proposal would allow individuals to elect to receive contributions to a health savings account (HSA) in lieu of reduced cost-sharing under health insurance obtained through a health insurance exchange.

Representatives Lloyd Smucker (R-PA), and Don Beyer (D-VA), have re-introduced H.R. 1436, the Ensuring Nationwide Access to a Better Life Experience (ENABLE) Act. The proposal would make permanent the following provisions that are set to expire at the end of 2025. 

Senator Eric Schmitt (R-MO), along with a bipartisan coalition of cosponsors, have re-introduced the Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. The proposal would make permanent the following provisions that are set to expire at the end of 2025.

The Treasury Department has announced that it will not enforce penalties or fines associated with the beneficial ownership information reporting rule under existing regulatory deadlines pursuant to the Corporate Transparency Act (CTA). The Treasury Department also indicates it will be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.

The Senate on Monday confirmed former Representative Lori Chavez-DeRemer to lead the Department of Labor (DOL) by a vote of 67-32. Chavez-DeRemer will be responsible for overseeing the DOL and fulfilling the Trump administration’s agenda. She represented Oregon’s 5^th district in the House of Representatives in the 118^th Congress, developing a pro-labor record on worker’s rights and organized labor.

Sen. Ted Cruz (R-TX) and Rep. Chip Roy (R-TX) have introduced the Personalized Care Act, bi-cameral legislation that would expand usage of Health Savings Accounts (HSAs). According to a press release, the bill would do the following.

Rep. Vern Buchanan (R-FL) and co-sponsor Rep. Jimmy Panetta (D-CA) have introduced H.R. 919, the Chronic Disease Flexible Coverage Act. The act would codify IRS guidance under Notice 2019-45 relating to treatment of certain services and items for chronic conditions as meeting the preventive care deductible for safe harbor purposes of high deductible health plans in connection with health savings accounts.

Senators Steve Daines (R-MT) and Catherine Cortez Masto (D-NV) have introduced S. 763, the Telehealth Expansion Act of 2025.

The Internal Revenue Service (IRS) has issued proposed regulations providing guidance for employers regarding new provisions on catch-up contributions as permitted by the SECURE 2.0 Act of 2022 (SECURE 2.0).

Senators Katie Britt (R-AL), Raphael Warnock (D-GA), Bill Cassidy (R-LA), and Gary Peters (D-MI), have introduced S.424, the Retirement Fairness for Charities and Educational Institutions Act.