Lawmakers from both parties in both the House and the Senate and the Administration have begun work on a health package for Congress to consider now that the federal government has reopened. At the heart of these efforts are negotiations on whether and if so, how to extend expiring Affordable Care Act (ACA) enhanced premium tax credits (PTCs).

The Department of Labor (DOL) has dropped its appeal of the court decision staying implementation of the agency’s fiduciary rule. This is a clear and important win for NAIFA. NAIFA along with four of its Texas chapters, the American Council of Life Insurance, and several other trade associations are plaintiffs in the lawsuit.

On December 11, the House passed H.R. 3383, The INVEST Act, a bipartisan bill to expand investment options, empower entrepreneurs and small businesses, and provide Americans with the opportunity to more freely invest.

On December 2, the Treasury Department and the Internal Revenue Service (IRS) released initial guidance, Notice 2025-68, on new child savings accounts (Trump accounts, also called 530A accounts).

On November 25, the Centers for Medicare and Medicaid Services (CMS) issued a proposed rule for Calendar Year (CY) 2027 that would make significant changes to the marketing rules governing advisors on Medicare coverage. The changes would rescind some of the onerous Biden-era regulations that made working in the Medicare space more difficult. The proposal came after a CMS-NAIFA meeting to outline the value professional advisors provide to those making Medicare purchasing decisions.

On December 9, Treasury and the IRS released Notice 2025-119, guidance that summarizes the health savings account (HSA) expansions enacted in last summer’s tax and spending cuts reconciliation law. In Q&A form, the guidance clarifies what the terms mean and how the rules work.

Just before Thanksgiving, the Centers for Medicare and Medicaid Services (CMS) released its proposed Medicare Advantage (MA) and Medicare Part D (prescription drug) plan rules for calendar year (CY) 2027. Generally, the proposal revises CMS’ star rating system, modifies enrollment rules for individuals whose providers are leaving their current plan, and requests comments on MA program improvements.

In recent weeks a number of new, relatively narrow retirement savings plan proposals have emerged. Among them is a provision in the INVEST Act, H.R.3383, which NAIFA supports. Among other provisions, the INVEST Act would amend securities law to allow 403(b) plan participants to choose to invest in collective investment trusts (CITs) and separate account insurance products. The necessary tax law changes were made in SECURE 2.0. The House approved the bill on December 11. See details in story above.

On November 20, the House Education and the Workforce (EWF) Committee favorably reported (sent to the full House for a vote) bills that would allow compensatory overtime (OT), and codify the PAID self-audit program. The 19 to 15 vote to advance the bills was largely party-line.

The Internal Revenue Service (IRS), in Notice 2025-69, has issued more guidance on the tax deduction for qualified overtime (OT). Even with this Notice, though, official guidance—especially for tax year 2025—is still skimpy. In the meantime, experts offer important clarifications that will be helpful to employers with employees who may qualify for the tax deduction.

On December 3, the Joint Committee on Tax (JCT) released its annual “tax expenditure report.” The report lists tax code provisions that lessen (or decrease) tax revenue paid to the federal government because they are departures from the usual rule, which is the foundation of the current income tax scheme, that all income is subject to tax.

In Notice 2025-67, the IRS announced inflation-adjusted limits for 2026 for retirement savings plans. The adjustments reflect the indexing of these limits that is required by law. They are effective as of January 1, 2026. They are:

NAIFA’s Policy Director Roger Moore attended the 2025 Annual Meeting of the National Conference of Insurance Legislators (NCOIL) on November 12-15, where he had the opportunity to strengthen NAIFA’s relationships with state legislators, regulators, and industry trade partners as well as advocate for key legislative priorities affecting NAIFA’s members. The meeting drew a record 414 registrations, including 74 legislators from 33 states, 13 first-time legislators from ten states, five insurance commissioners, and representatives from more than a dozen insurance departments.

During the 2025 Fall National Association of Insurance Commissioners meeting, President-Elect Christopher Gandy discussed hybrid life insurance policies with long-term care, extended care, and critical care riders, providing his perspective as an agent to the Task Force. Gandy provided insight on what he’s seeing in the market and offered suggestions to regulators to ensure the products remain accessible and easily understandable to consumers.

On Wednesday November 12 President Trump signed into law a Senate-passed agreement that was approved by the House that reopened the federal government. The agreement guarantees a Senate vote by mid-December on extending the Affordable Care Act enhanced premium tax credits (PTCs), funds about 10 percent of the government for all of FY 2026, funds the remaining 90 percent of federal government discretionary activity at FY 2025 levels until January 30, reverses reductions in force (RIFs) done on or after October 1 and forbids further government layoffs through January 30. The National Flood Insurance Program (NFIP) is reauthorized until January 30, 2026, and is reauthorized retroactively to October 1, 2025.

Representatives of NAIFA’s Medicare Collective, an initiative of the Lifetime Healthcare Center, met with officials from the Centers for Medicare and Medicaid Services (CMS) to discuss the role of brokers and agents in providing vital guidance, services, and protections to consumers in the Medicare space. They presented the Collective’s plan to work with CMS and insurance carriers to ensure Medicare beneficiaries receive the best possible coverage and care in these challenging times. They also addressed rising concerns that the failure to adequately compensate agents for their work would harm consumers by leaving them vulnerable to misinformation or without competent, personalized assistance as they navigate complex coverage options, plans, and regulations.

Republican lawmakers in both the House and the Senate have begun work on a health package for Congress to consider after the federal government reopens. President Trump said the effort should also include Democrats, saying a “much better than Obamacare” law can be developed.

Treasury’s assistant secretary for tax policy, Ken Kies, said agency lawyers are working on the regulations needed to implement the new tax law. Soon to come out will be regs on overtime, tips, car loan interest, seniors, accelerated depreciation, and Trump savings accounts, he said.

Workers who receive qualified overtime pay in 2025 are entitled to an up to $12,500/individual tax deduction if they earn less than $150,000. That means employers have to track and report qualified overtime pay. New guidance on how to do that is expected, but current guidance is limited.

On September 30, the Department of Labor (DOL) released an opinion letter on how to calculate required overtime pay. Generally, the opinion letter notes that an employee’s overtime pay calculation is not restricted to base hourly wages. Rather, it must include all compensation paid to a worker, including in this case emergency pay premiums.