On July 21, the National Conference of Insurance Legislators (NCOIL) adopted a NAIFA-backed resolution to oppose any new fiduciary rule from the U.S. Department of Labor (DOL). The decision came in part as a result of NAIFA testimony highlighting why no change to current fiduciary rules is necessary.
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NCOIL Supports Resolution Opposing Fiduciary Rule Change
By NAIFA on 8/14/23 3:43 PM
Topics: Standard of Care & Consumer Protection Interstate Advocacy DOL NCOIL Fiduciary
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Tri-Agency Proposed Reg Adversely Impact STLD, Indemnity Health Insurance
By NAIFA on 8/14/23 3:34 PM
On July 7, the Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury (the “tri-agency” reg) released a proposed regulation that would significantly and adversely impact short-term limited duration (STLD) and fixed payment (e.g., indemnity) health insurance.
Topics: Health Care Legislation & Regulations Taxes DOL
1 min read
DOL Proposed Changes to White Collar Exemption to the OT Rule Moves Forward
By NAIFA on 8/14/23 2:46 PM
On July 12, the Department of Labor’s (DOL’s) Wage and Hour Division (WHD) sent to the White House (the Office of Management and Budget’s (OMB’s) Office of Information and Regulatory Affairs (OIRA)) for review its proposed changes to the white-collar exemption from overtime (OT) rules. This is the last step prior to finalizing a proposed regulation.
Topics: Legislation & Regulations DOL
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DOL Secretary’s Stalled Nomination Triggers Talk of Challenge
By NAIFA on 8/14/23 2:35 PM
The Government Accountability Office (GAO) is now investigating whether Acting Department of Labor (DOL) Secretary Julie Su has the legal authority to lead the agency. It is becoming increasingly clear that there are not yet the votes to confirm her as DOL Secretary. However, her nomination has not been withdrawn, nor is it scheduled for a Senate vote. Instead, the Administration is saying it has the authority to leave Su in place as Acting Secretary. This is triggering talk of a legal challenge to any actions taken by DOL during what some are calling Su’s illegal time as acting head of the agency.