Hi there, from CNN, I'm Charlie Drever with the five things you need to know for Friday, January 2nd.

We start this episode with the ski resort fire in Switzerland, where at least 40 people have been killed and more than 100 injured.

The blaze broke out in the early hours of New Year's Day at Le Constellation Bar in Cran, Montana, one of the

country's most exclusive areas.

Witnesses described chaos and terror with people smashing windows as they try to escape.

Here's one resident describing the aftermath.

There were people screaming and then people lying on the ground, probably dead.

They had jackets over their faces.

Well, that's what I saw. Nothing more.

Families of those missing now face an agonizing wait for news of their loved ones,

with Swiss officials saying it could take several days to identify those who have died.

Two witnesses told CNN affiliate BFM TV that the fire was caused by sparklers placed in champagne bottles.

But officials say it will take time to determine what started the blaze.

More news coming up, including the key takeaways from the inauguration of New York City's new mayor.

When 2025 ended, so did Obamakez enhanced premium subsidies, meaning millions of Americans will likely have to shell out more or go uninsured.

And while the White House is expected to vote later this month on a Democratic proposal

to extend them for three years, the effort is set to face major hurdles in the Senate.

Now it's worth noting that not all premium assistance is disappearing, only the enhanced

subsidies enacted during the Biden administration. But the enhanced subsidies made Obamacare coverage much more affordable,

which helped draw a record 24.3 million people to sign up for policies last year.

And state exchange leaders say the lapse of the subsidies is already taking a toll,

with several directors telling CNN that new enrollment is down.

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