PACE Act Turns NAIFA’s Advocacy Spotlight to the States

October 16, 2015

As the NAIFA Blog noted last week , the Protecting Affordable Coverage for Employees (PACE) Act has been signed into law. The PACE Act modifies the Affordable Care Act so that “small employers” may remain defined as businesses with 50 or fewer employees. Under the ACA, beginning January 1, 2016, “small employer” would have been redefined as a business with 100 or fewer employees. However, the PACE Act still gives individual states the prerogative to redefine a “small employer” as one with ...

Update on DOL Fiduciary with NAIFA's Judi Carsrud

October 13, 2015

Judi Carsrud , NAIFA’s Director of Government Relations, joins Real Wealth Marketing's Power Session LIVE for an update on the Department of Labor's proposed fiduciary rule . Listen to Judi's update and a Q&A session for details on the issue, how it may affect the industry and NAIFA members' ability to serve clients.

Obama signs law on ACA definition of 'small business'

October 9, 2015

President Obama signed legislation that will ensure that small group markets remain defined as 1-50 employees rather than change to 1-100 employees on Jan. 1, 2016. NAIFA members advise small businesses on appropriate health insurance and employee benefits coverage for their employees. The bipartisan modification to the ACA will help NAIFA members continue to serve their small employer clients and avoid plan disruption for employers with 51-100 employees. Business groups were concerned ...

New York Life Agent Testifies on Potential Impact of Proposed DOL Rule

October 8, 2015

On Sept. 30, New York Life agent Ken Specht of Kenosha, Wis., testified  at a hearing before the House Ways and Means Committee Subcommittee on Oversight on the Department of Labor's proposed fiduciary rule.    “I am committed to serving my client’s best interest. Not only is it the right thing to do and the only way that I am comfortable operating – but this is very much a personal business and a long-term relationship business,” Specht told the members. “Nearly all of my clients com...

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Projected Health Care Costs for Retirees Up Sharply

October 8, 2015

A 65-year-old couple retiring this year will spend approximately $245,000 on health care during their retirement years, according to Fidelity Investment’s annual Retirement Health Care Cost Estimate . That amounts to an 11 percent increase over last year’s estimate of $220,000 and a 29 percent increase from the 2005 estimate of $190,000.   Fidelity attributes the jump to increased longevity among retirees and rising medical and prescription drug costs. The estimate does not include poten...