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Advocacy in action blog

Michael Hedge, NAIFA's Director of Government Relations


Recent posts by Michael Hedge, NAIFA's Director of Government Relations

1 min read

NAIFA Evaluating Proposed DOL Rule for Independent Contractors

By Michael Hedge, NAIFA's Director of Government Relations on 10/11/22 5:12 PM

On Tuesday, October 11, 2022, the Department of Labor (DOL) released a proposed rule that would replace the existing 2021 test under the Fair Labor Standards Act used to determine worker classification as either an independent contractor or an employee.

Topics: Legislation & Regulations
3 min read

NAIFA Sends Letters to CMS to Lessen the Impact of CMS Final Rule

By Michael Hedge, NAIFA's Director of Government Relations on 8/15/22 3:01 PM

In May, the Centers for Medicare and Medicaid Services (CMS) issued a Final Rule which revises the Medicare Advantage (Part C) program and the Medicare Prescription Drug Benefit (Part D) program regulations to implement changes related to marketing and communications, past performance, Star Ratings, network adequacy, medical loss ratio reporting, special requirements during disasters or public emergencies, and pharmacy price concessions.

Topics: Medicare Federal Advocacy CMS
1 min read

House Committee Passes Bill Revising Process for Registering Index-Linked Annuities

By Michael Hedge, NAIFA's Director of Government Relations on 7/28/22 12:00 PM

On July 28, the House Financial Services Committee voted to advance a bipartisan bill requiring the Securities and Exchange Commission to create a new form for registering index-linked annuities, which allows investors to save for retirement in a more streamlined process.

Topics: Federal Advocacy
1 min read

House Passes Remote Notarization Legislation

By Michael Hedge, NAIFA's Director of Government Relations on 7/27/22 12:00 PM

On July 27, the House of Representatives passed H.R.3962 the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (the SECURE Notarization Act). The bill authorizes a notary public to notarize electronic records related to interstate commerce remotely, subject to specified procedures. 

Topics: Federal Advocacy Congress Supported Legislation Remote Notarization
2 min read

Broker Compensation Disclosure Requirements

By Michael Hedge, NAIFA's Director of Government Relations on 12/27/21 4:39 PM

Beginning on December 27, 2021, brokers and consultants will be held to new compensation  transparency obligations under the Consolidated Appropriations Act (CAA). The CAA is a spending  and coronavirus relief package that was signed into law on December 27, 2020 and expands ERISA’s existing disclosure requirements. It broadened the definition of a “covered plan” to include group health plans (previously it only included retirement plans).

Topics: Federal Advocacy Compensation Regulation DOL Insurance & Financial Advisor Regulation

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