Webinar: Mercer’s Experts Discuss Health and Retirement Policy Changes

TL/DR –

The future of Republicans’ legislative priorities remains uncertain, but several benefits policies might be considered, including changes to tax treatment of employer-sponsored health and retirement plans, lowering healthcare costs, modifying SECURE 2.0’s retirement changes, and expanding investment options for 403(b) plans. In healthcare, the Trump administration has issued several executive orders, which require response by agencies by May in some cases and the Biden administration made several changes, including issuing guidance on paid leave and reversing proposed Affordable Care Act (ACA) regulations. Regarding retirement, the IRS has progressed in issuing guidance on SECURE 2.0, with proposed catch-up contribution rules and the auto-enrollment mandate for new 401(k) and 403(b) plans, and the Department of Labor (DOL) has updated its Voluntary Fiduciary Correction Program.

Summary

The future of Republicans’ legislature in Congress is precarious, with significant benefits policies hanging in the balance. This involves employer-sponsored health and retirement plans’ tax treatments, amongst others. Anticipated bipartisan proposals aim to decrease healthcare costs, amend SECURE 2.0’s retirement alterations, and broaden 403(b) plan investment options.

Healthcare Policy Initiatives

The Trump administration’s healthcare policy is gaining traction with multiple executive orders (EOs) issued on topics like transparency, in vitro fertilization, and the Make America Healthy Again Commission. Agencies are expected to respond to these EOs as early as May. Prior to its departure, the Biden administration issued vital guidance on paid leave and rolled back two sets of proposed Affordable Care Act (ACA) preventive services regulations. Notably, ACA reporting and employer shared-responsibility enforcement were offered relief by Congress recently.

Retirement Policy Progress

The IRS is making headway on SECURE 2.0’s various elements, including new regulations for catch-up contribution rules and an auto-enrollment mandate for new 401(k) and 403(b) plans. The Department of Labor (DOL) also recently amended its Voluntary Fiduciary Correction Program to provide new self-correction opportunities for certain fiduciary infractions.

Webinar Discussion

Mercer’s Law & Policy Group experts will cover these topics and more during an upcoming 90-minute live webinar.

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