On June 7, the Centers for Medicare and Medicaid Services (CMS) released a list of Frequently Asked Questions (FAQs) regarding compensation paid by issuers to agents and brokers who assist customers with enrollment during a Special Enrollment Period (SEP) or during Open Enrollment Periods (OEPs).
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CMS Releases New FAQs Regarding Agent/Broker Compensation for Special Enrollment Periods
Topics: Federal Advocacy CMS Compensation Regulation Insurance & Financial Advisor Regulation
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NAIFA Celebrates State Advocacy Milestone
NAIFA strongly encourages states to adopt the NAIC's model regulation on annuity transactions, and our state chapters have made promoting adoption of the model an advocacy priority over the past two years. Our efforts, the work of members like you at the grassroots level, and our ability to work with other industry organizations – including the American Council of Life Insurers – have paid off.
Topics: State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Insurance & Financial Advisor Regulation
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Bill on Remote Notorization Would Benefit Consumers and Financial Professionals
NAIFA has joined with industry partners in a letter to House sponsors of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act urging support for the legislation. The bipartisan legislation (H.R. 3962) was introduced by Representatives Madeleine Dean (D-PA) and Kelly Armstrong (R-ND).
Topics: Federal Advocacy Congress Insurance & Financial Advisor Regulation Supported Legislation Remote Notarization
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NAIFA’s Congressional Conference Takes Advisors’ Grassroots Influence to Capitol Hill
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Insurance and financial advisors from states across the country visited Capitol Hill on May 24 for meetings with more than 325 congressional offices, including lawmakers and senior staff. The day on the Hill is the highlight of Day 2 of NAIFA’s annual Congressional Conference.
Topics: Federal Advocacy Grassroots Congressional Conference
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New Rule Strengthens Protections for South Carolina Annuity Consumers
American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors (NAIFA) South Carolina President Johnny Craven issued the following joint statement on the best interest annuity rule adopted recently by Acting Director Michael Wise and the South Carolina Department of Insurance:
Topics: State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Insurance & Financial Advisor Regulation South Carolina
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NAIFA’s State Advocacy Hard at Work in California
Selected advocates from NAIFA-CA’s grassroots network have reached out to influential members of the California Senate Appropriations Committee to urge the defeat of SB927 in the committee. The legislation would require insurance professionals and companies to provide confusing and costly disclosures that have no practical benefit for consumers. It would also result in increased litigation and higher costs for California consumers. Previously, NAIFA and coalition partners including the American Council of Life Insurers (ACLI) and the Association of California Life and Health Insurance Companies (ACLHIC) offered amendments that would address many of the bill’s unworkable provisions.
Topics: State Advocacy Standard of Care & Consumer Protection Grassroots California Insurance & Financial Advisor Regulation
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Agents and Advisors Need to Represent Their Clients and Communities at Congressional Conference
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NAIFA Trustee Aprilyn Chavez Geissler, LACP, loyal member since 2005, says that insurance and financial professionals offer an important perspective on how legislative decisions affect Main Street Americans and their communities. NAIFA's Congressional Conference, May 23-24 in Washington, D.C., is a great opportunity for agents and advisors to talk with lawmakers about issues important to their clients and communities.
Topics: Federal Advocacy Grassroots Congressional Conference
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Tennessee Modifies Qualifications for Potential Agents
NAIFA-TN is celebrating the recent signing of HB 2225 into law. Sponsored by Representative Dennis Powers and NAIFA-Tennessee member Senator Mark Pody, this bill limits the lookback of misdemeanors or Class E felonies to 10 years for insurance agent applicants. Class E felonies are often associated with low-quantity marijuana possession charges. In recent years, as many states have taken steps toward legalization, there are efforts to expunge or reconsider these types of crimes, which were disproportionately charged against minorities and people of color. HB 2225 is a step towards removing this barrier of entry into the insurance industry.
Topics: State Advocacy Insurance & Financial Advisor Regulation Producer Licensing & CE Tennessee
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You Don't Have to Be an Experienced Advocate to Make a Difference at NAIFA's Congressional Conference
NAIFA-Greater Washington, D.C., member and Young Advisor Team Leader of the Year Brian Haney, CLTC, CFS, CFBS, CIS, LACP, CAE, provides his insights on NAIFA's Congressional Conference and how you don't have to be an experienced advocate to make difference. While Haney grew up in the D.C. area, our elected officials are interested in hearing the Main Street stories of insurance and financial professionals from around the country. Lend your voice by joining us May 23-24 at NAIFA's Congressional Conference.
Topics: Federal Advocacy Grassroots Congressional Conference
NAIFA-KY and the Importance of State Advocacy: An Update From Brian Wilson
The advocacy work of NAIFA-KY was highly influential in the late revision of tax reform legislation in the state that would have placed a 6% tax on financial planning and investment management services. This tax would have impacted many investors in Kentucky and the financial professionals they rely on for advice and services. NAIFA Trustee Brian Wilson offers his perspective on why this advocacy win and all of NAIFA's state advocacy efforts are so important.
