Pub. 6 2016-2017 Issue 5

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S March • April 2017 15 MR. TRUMP GOES TO WASHINGTON A fter a tumultuous campaign in which he violated every rule of American politics, and with a promise to “drain the swamp” in the nation’s capital, Mr. Trump is going to Washington. In a stunning victory that defied the polls and pundits, Donald J. Trump was elected as the 45th president of the United States. But he wasn’t the only winner in last month’s election. The Republican Party also won big and will maintain control of both the House and Senate, and for the first time since 1929, Republicans will now control the presidency, both houses of Congress, most governorships and state legislatures, and will pick the next Supreme Court justice. President-elect Trump has indicated that his top three priorities are immigration, health care, and jobs, but many in the industry are wondering if a Trump presidency could derail the Department of Labor’s (DOL’s) fiduciary rule, and how a Trump presidency will affect retirement policy. At this point, there are no specifics proposals on retirement issues, but with health care a top priority of the incoming administration, health savings accounts (HSAs) may be the first to be affected. Health Savings Accounts A post to President-elect Trump’s official government website, www.greatagain.gov , elaborates on a key cam- paign promise, indicating that the Trump administration will work with Congress to repeal the Patient Protection and Affordable Care Act (PPACA) and replace it with a solution that includes HSAs. The website provides few details, but notes that the incoming administration will return regulation of health insurance to the states, work with Congress to enable people to purchase insurance across state lines, and work with Congress and the states to re-establish high-risk pools to ensure access to health insurance coverage for individuals who have not main- tained continuous coverage. BY DENNIS ZUEHLKE , COMPLIANCE MANAGER