Michigan and Arkansas have become states number four and five to adopt a best interest annuity rule based on the National Association of Insurance Commissioners’ (NAIC’s) revised Suitability in Annuity Transactions Model Regulation.
Recent posts by NAIFA
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Michigan and Arkansas Adopt Best Interest Rule on Annuities
Topics: State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Arkansas Insurance & Financial Advisor Regulation Michigan
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Repeal of Health Insurers' Antitrust Exemption Likely to Harm Consumers
On December 22, the Senate voted to repeal the McCarran-Ferguson antitrust exemption for health insurance companies by passing HR 1418, the Competitive Health Insurance Reform Act. The House passed the bill on Sept. 21. President Donald J. Trump is expected to sign the bill into law later this week.
Topics: Health Care Federal Advocacy
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Spending Bill Loosens Restrictions on FSAs
As part of the COVID relief package passed by Congress, NAIFA-backed Flexible Spending Account (FSA) relief was included to relieve some of the financial burden consumers face regarding healthcare costs and health spending account allocations. Known as the Consolidated Appropriations Act, 2021, (CAA) it includes provisions extending FSA benefits to those enrolled in such plans.
