The Washington Report
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July 24, 2019
Legislative
House Passes Bill Raising Minimum Wage to $15 an Hour
On July 18, 2019, the House passed the Raise the Wage Act (H.R. 582) with a 231–199 vote. The bill would gradually increase the federal minimum wage to $15 an hour. Senate consideration is uncertain, and the White House announced it would veto the legislation.
The full text of H.R. 582 is available here
House Approves Bill Repealing ACA Cadillac Tax; Senate Passage Uncertain
On July 17, 2019, the House passed with a 419–6 vote the Middle Class Health Benefits Tax Repeal Act of 2019 (H.R. 748). The bill would repeal the Affordable Care Act (ACA) excise tax on employer-sponsored health care coverage (i.e., “Cadillac Tax”) for which there is an excess benefit (high-cost plans). The repeal would apply to taxable years beginning after December 31, 2019. The bill moves to the Senate where passage is uncertain.
The full text of H.R. 748 is available here
Aon Publications
IRS Expands List of Preventive Care Benefits HDHP Can Pay Before Deductible Is Met
The Internal Revenue Service (IRS) has expanded the list of preventive care benefits that can be covered by a high-deductible health plan (HDHP) prior to satisfying the applicable HDHP deductible. The guidance in Notice 2019-45 is effective July 17, 2019.
The Aon bulletin, which provides a brief overview of the IRS Notice, can be found here