Insights: Policy

Balance Billing/IDR

HHS issued the final rule on Federal Independent Dispute Resolution (IDR) Operations. The rule focuses on the mechanics of the No Surprises Act’s (NSA) federal independent dispute resolution process rather than the underlying standard for out-of-network payment.

Defense Spending (FY27 Funding, Reconciliation, Iran Supplemental)

The House Armed Services Committee (HASC) released its annual defense policy bill, which authorizes ~$1,071b in baseline defense spending, which is consistent with the level requested by the White House. This figure represents a 9% increase over the current level of spending if one considers “current" to mean the FY26 defense appropriations and...

Iran War/Domestic Politics

Congressional Republicans are showing discontent about President Trump’s handling of the Iran war in two somewhat contradictory ways. Hawks are concerned that he is going to cut a deal that is too weak, thereby leaving Iran with too much influence over the Strait of Hormuz and not sufficiently addressing its nuclear program. This was reflected...

Brokered Deposits/Small Bank Reforms

The House yesterday passed housing legislation (the ROAD to Housing Act) on a strong bipartisan basis (396-13) which contains a number of ancillary provisions, including a number that provide small banks with more flexibility to accept brokered deposits, as well as other small bank reforms.

Housing Supply Legislation/ROAD to Housing Act

The House yesterday passed a modified version of the already Senate-passed ROAD to Housing Act by very strong bipartisan vote (396-13) (see bill text/summary here). The primary change to the bill was elimination of the seven-year divestment requirement for build-to-rent (BTR) properties, while other elements of the Senate-passed bill’s ban on...

ACA/PY27 Individual Market Regulations

CMS issued the “HHS Notice of Benefit and Payment Parameters for 2027” final rule, which sets standards for ACA Exchanges, QHP issuers, agents, brokers, web brokers, risk adjustment, user fees, and related individual-market policies. The final rule also implements certain provisions of the Working Families Tax Cut legislation, which CMS uses as...