National Association of Insurance and Financial Advisors

Lame Duck 115th Congress to Tackle Retirement Savings, Government Spending

November 16, 2018

Before the new 116 th Congress takes over in January, the lame duck 115 th Congress must fund a big chunk of the government by December 7. And, there is considerable anticipation for a lame duck tax bill designed, among other things, to encourage more retirement savings.   Current lawmakers—including the dozens who lost their reelection bids or who are retiring at the end of this year—returned to Washington November 13 to tackle an intense one-month lame duck session during which they m...

116th Congress: Democrats Control House; GOP Gains Senate Seats

November 16, 2018

The 116 th Congress convenes in January, with continued GOP control of the Senate but Democrats in control in the House. There are still undecided races in both chambers, but we already know that there will be at least two additional Republican Senators, and at least 33 more Democratic House members.   Results from the November 6 elections are decidedly mixed—House control is a big win for Democrats, but Senate control—with an increased majority—is an equally big win for Republicans. So ...

Lawmakers Begin to Identify 2019 Priorities

November 16, 2018

Leaders of the incoming 116 th Congress are beginning to identify their legislative priorities for next year. Whether the Democratic-controlled House can compromise with the GOP-controlled Senate, or Congress with the President, remains to be seen. But action—even if it falls short of enactment—is expected on a plethora of issues of importance to NAIFA members and their clients. They range from tax to health insurance to financial services regulation.   Taxes: There is substantial bipa...

Administration Proposes New MEP Rules

November 16, 2018

On October 22, the Department of Labor (DOL) proposed a regulation that would expand eligibility to participate in a multiple employer plan (MEP). The regulation, issued in response to a Trump Executive Order, is aimed at providing clarity on the types of groups (“bona fide groups”) and employer associations that can sponsor MEPs. In many ways, this MEP proposal tracks the association health plan (AHP) regulation that DOL finalized last June.   The proposed regulation is subject to a publ...

New HRA Reg Proposal Aims to Expand Employer Health Insurance Choice

November 16, 2018

On October 23, the Department of Labor (DOL)—along with the Department of Health and Human Services (HHS) and Treasury—proposed a new rule that would allow employer-sponsored health reimbursement arrangement (HRA) funds to be used to pay individual health insurance premiums. Under the rule, HRA money could also be used to pay for out-of-pocket costs associated with individual health insurance.   Generally, HRAs are a type of group health insurance plan that allows employers to pay for med...