Happy New Year from the Bar! Usually, we’re pouring your favorite beverage, but now we’re also poring over new guidance around provisions of the One Big Beautiful Bill related to telehealth in high-deductible health plans, direct primary care arrangements, and onsite clinics. We also have an update on some fiduciary litigation. And in Last Call, Ed channels his inner Frodo and salutes the 25th anniversary of the Lord of the Rings trilogy.