National Association of Insurance and Financial Advisors

114th Congress Ends with a Whimper

December 15, 2016

Despite some last-minute futile fireworks, the 114 th Congress has passed into history after enacting a policy-free short-term funding bill that defers most spending and regulatory issues to 2017. The continuing resolution (CR) approved by the outgoing 114 th Congress is devoid of policy riders. It provides funding for the government through April 28, 2017. Pending pension and tax extender issues were left out of the final bill.   Next up is the incoming 115 th Congress which is set to...

NAIFA Members Visit Congress during Annual IFAPAC & APIC Planning Meeting

December 15, 2016

On December 1 the annual planning meeting for state IFAPAC and APIC chairs brought insurance agents and financial advisors from almost every state to D.C. to educate Representatives, Senators and their staff. The group of nearly 140 held over 200 meetings expressing NAIFA’s support for the Senior$afe Act and NARAB. NAIFA members also shared personal stories of how insurance and investment products have made a positive impact for their fellow constituents along with the difficulties of serving...

Congress Oks Bill Letting Small Employers Fund HRAs that Employees Can Use to Buy ACA-Compliant Health Insurance

December 15, 2016

Included in the 21 st Century Cures Act (H.R.34) enacted by Congress on December 7 is a provision that lets small employers, without penalty, fund health reimbursement arrangements (HRAs) that their employees can use to buy Affordable Care Act (ACA)-compliant health insurance. President Obama signed the bill into law on December 13.   The HRA provision eliminates penalties faced by small employers that offer pre-tax monetary assistance to their employees through an HRA that they can use ...

Judge Halts DOL Overtime Rule

December 15, 2016

On November 22, a federal district court judge in Texas issued a nationwide temporary injunction that halts the Department of Labor’s (DOL’s) new rule on overtime that must be paid to administrative, professional and executive workers.   The ruling is based on the judge’s finding that the plaintiffs (21 States and a group of businesses) would (1) suffer irreparable harm if the rule were to go into effect prior to a court ruling on its validity; and (2) that the plaintiffs were likely to p...

New Congress Contemplates ACA Repeal-and-Replace

December 15, 2016

Despite warnings of dire consequences for the individual health insurance market, Congressional Republicans are coalescing around an early January plan to repeal the entire Affordable Care Act (ACA) with a three-year delay in the effective date of repeal. The three years between repeal and replacement would allow lawmakers time to craft a replacement health reform plan, say those close to these discussions. However, they emphasize that the three-year delayed effective date is still a moving t...