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NAIFA Comments on Senate Vote to Proceed on H.R. 3590: Prepares to Roll Up Its Sleeves | News Releases | NAIFA
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NAIFA Comments on Senate Vote to Proceed on H.R. 3590: Prepares to Roll Up Its Sleeves

Contact:

Lee Allen, Vice President of Communications and Marketing, NAIFA
(703) 770-8112 (office)
(703) 336-2462 (mobile)

FALLS CHURCH, VA (November 23, 2009) — According to leaders of the National Association of Insurance and Financial Advisors (NAIFA), details do matter and the various elements in 2,074 pages of the Senate bill will need to be fully vetted. While NAIFA would have preferred allowing Members of the Senate time to analyze this complex proposal before being asked to proceed, the association looks forward to working with lawmakers to ensure that current legislation is amended to meet NAIFA's reform goals of affordable coverage for all Americans without resorting to new government-run programs.

As currently drafted, the bill includes a government-run plan and does not address the devastating results of allowing individuals to purchase coverage after they are ill or injured - essentially leaving everyone in the system "on claim."

NAIFA President Thomas D. Currey, CLU, ChFC, LUTCF comments, "The new opt-out long-term care program, or CLASS Act, with its daily benefit of $50 - $75 is disappointing as it creates a sense of false security that is severely insufficient to meet the daily long-term care for expenses now averaging $200 per day. This creates a disincentive for individuals to plan properly for their long-term care financing needs. New health insurance responsibilities will have an economic adverse affect on many employers."

Currey continues, "As agents, we are the ones helping individuals and employers with their health insurance choices. We have more work to do because it's our responsibility to remain ever-vigilant to ensure affordable choices are available." 

"Attempts to cover the uninsured should not come at the expense of employer-based system that currently covers 160 million Americans or raise premiums beyond affordable levels for those now covered. NAIFA remains eager to expand coverage and affordability for all," Currey concludes.

About NAIFA: NAIFA comprises more than 700 state and local associations representing the interests of approximately 200,000 agents and their associates nationwide. NAIFA members focus their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. The Association’s mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members.