Treasury posted its regulatory agenda, which includes the following health and welfare-related provisions:

• Final regulations on the form and manner in which group health plans, health insurance issuers offering group or individual health insurance coverage, and providers of air ambulance services would report information regarding air ambulance services (expected December 2025)
• Proposed regulations on determination of line of business for purposes of no-additional-cost service and qualified employee discount fringe benefits - change from the Enterprise Standard Industrial Classification Manual ("ESIC Manual") to the North American Industry Classification System ("NAICS") (expected May 2026)
• Proposed regulations on trusts that utilize cash value life insurance policies to fund welfare benefits (expected May 2026) 
• Proposed regulations on the deduction limit exception for collectively bargained welfare benefit funds under Code section 419A(f)(5) (expected May 2026)
• Proposed regulations on the 100% excise tax under Code section 4976 for welfare benefit fund reversions (expected May 2026)