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On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), which includes several significant provisions affecting employee benefits, most of which take effect January 1, 2026. The OBBBA permanently extends telehealth flexibility for high-deductible health plans (HDHPs) and expands HSA eligibility to cover direct primary care and marketplace bronze and catastrophic plans. It raises the annual contribution limit for dependent care FSAs to $7,500 (catch this at open enrollment) and makes permanent the tax-free employer student loan repayment benefit under qualified educational assistance programs. The new law also modifies the I.R.C. Section 162(m) compensation deduction rules by requiring the aggregation of executive compensation across controlled groups. Additionally, the OBBBA introduces new tax-favored “Trump Accounts” for children under 18, with government and employer contribution options.
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