The latest from Washington, D.C., impacting the insurance and financial services industries.
The Medical Debt Cancellation Act seeks to alleviate financial stress for Americans burdened by health care expenses.
The Connelly decision may generate questions about buy-sell agreements from clients and their tax and legal teams.
The case involved a now bankrupt out-of-network mental healthcare treatment center (Sure Haven, Inc.) that violated the plan’s terms (fee-forgiving) but demanded plan payment.
This will result in an increase in the health spending share of GDP from 17.3% in 2022 to 19.7% in 2032.
Connelly v. U.S. questioned whether the proceeds of a life insurance policy taken out by a closely held company on a shareholder constitutes an asset of the company when calculating the value of the shareholder’s shares for purposes of the federal estate tax.
The Congressional Budget Office rudely interrupted the presidential campaign by releasing its 10- year budget outlook. Neither Joe Biden nor Donald Trump wants to talk about the woolly mammoth in the room, but somebody has to point out that growing entitlements and debt payments are squeezing national defense. As helpful historical context, the U.S. added…
The ERISA Industry Committee today asked the U.S. Department of the Treasury and the Internal Revenue Service for additional clarity regarding the regulations governing health care and retirement benefits.
—A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year. Inflation fell sharply in the second half of last year but then leveled off above the Fed’ s 2% target in the first few months of 2024. With polls showing that costlier rents, groceries and…
Covid has affected everyone, whether or not you were vaccinated. Not that Robert Kennedy, Jr. is right about shots. Polls suggest that people ignore the economic recovery and blame Joe Biden for not giving them the kind of personal prosperity that had supposedly boosted their purchasing power and assured their retirement.
—Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. At the same time, with polls showing that costlier rents, groceries and gasoline are angering voters as the…
A stronger economy is good news for the Social Security program but Congress must act to keep it solvent.
Prescription drug pricing, pharmacy benefit manager reform and the No Surprises Act are among the health care-related issues making news in Washington.
The National Association of Insurance and Financial Advisors wraps up its 2024 Congressional Conference Tuesday with a visit to Capitol Hill to discuss issues facing the industry and the people it serves.
Think twice before removing pension risk transfers from company toolboxes.
The event will feature targeted advocacy training with briefings on legislative issues that affect members’ businesses, clients, and communities.
Neither of the two presumptive major party presidential nominees wants to seriously discuss Social Security. The longer Congress does nothing, the worse the problem gets for retirees and those nearing retirement. On Monday, the Social Security trustees released their annual report on the fiscal state of the program.
This legislation aims to repeal the Medicare requirement that necessitates a three-day inpatient hospital stay before a Medicare beneficiary qualifies for covered skilled nursing care.
Congress has spent more money on interest so far this year than it has spent on both national defense and Medicare. During the same time period, the U.S. spent $873 billion on Social Security, the federal program that provides retirement, disability, survivor, and family benefits to more than 67 million Americans. U.S. interest spending is expected to increase in…
The U.S. economy still hasn't slowed to the Federal Reserve's satisfaction, so don't expect the Fed to cut interest rates at its June meeting, said Ryan Loy, extension economist for the University of Arkansas System Division of Agriculture. In a news conference at the beginning of May, Fed Chairman Jerome Powell expressed frustration about the lack of downward…
This combination of factors has sparked anticipation that the Federal Reserve might reduce interest rates in the near future. The Labor Department's latest report revealed that nonfarm payrolls grew by 175,000, which was below the anticipated 240,000. Additionally, the unemployment rate climbed to 3.9%, a slight increase from the forecasted 3.8%.
