Bloomberg News

Fiscal cliff deal ends payroll tax cut

The House of Representatives voted late Tuesday night on a Senate-backed plan to avoid the “fiscal cliff” of automatic spending cuts and tax increases. However, 77% of U.S. households will face higher tax rates this year because the deal allowed the payroll tax cut to expire.

Insurers face jumbled market with health exchange rules

Rules for the six state insurance exchanges that won conditional approval from the Obama administration Dec. 10 are split evenly between those with strict criteria for companies that want to participate and states that have opened their exchanges to all comers, a scenario supported by the insurance industry. A high bar for inclusion could limit the number of insurers offering health plans in some states.

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