Advocacy in action blog

The National Association of Insurance and Financial Advisors (NAIFA) supports the budget reconciliation tax package and has signed onto two coalition letters (here and here) urging Congress to enact this important legislation. This tax package builds on the foundation laid by the Tax Cuts and Jobs Act and reflects a clear commitment to policies that enable Main Street businesses including insurance and financial professionals to thrive. It addresses long-standing tax concerns that impact the majority of small businesses and pass-through entities that form the backbone of local economies.

The Senate is preparing revisions to the massive budget and tax bill previously approved by the House with a goal of passing final legislation by July 4th. It is crucial to millions of Main Street businesses, many of which are owned or served by NAIFA members, that the final reconciliation bill makes the Section 199A deduction for pass-through businesses permanent and expands the deduction from 20 to 23%.

NAIFA Trustee Dennis Cuccinelli of NAIFA-New Jersey testified before the New Jersey Department of Labor and Workforce Development to voice concerns over a proposed rule that would codify the ABC test for determining worker classification.

"The Centers for Medicare & Medicaid Services' (CMS) decision to positively adjust agent compensation for 2026 is a meaningful step in the right direction," said NAIFA CEO Kevin Mayeux, CAE. "This adjustment reflects growing recognition of the critical role licensed insurance professionals play in guiding Medicare beneficiaries through a complex and often confusing system.

The National Association of Insurance and Financial Advisors (NAIFA) strongly objects to United Healthcare’s decision to cut agent commissions on more than 100 Medicare Advantage plans across over 20 states. This action undermines the value of professional guidance at a time when seniors need it most.

NAIFA supports the bipartisan FIREWALL Act - Facilitating Increased Resilience, Environmental Weatherization and Lowered Liability - introduced by Senators Adam Schiff and Tim Sheehy. As natural disasters grow in frequency and severity, this legislation offers a proactive, fiscally responsible strategy to help protect American families and stabilize insurance markets.

A rule proposed by the New Jersey Department of Labor and Workforce Development (DOLWD) threatens the independent contractor status of many insurance agents and brokers and would improperly classify them as "employees" under state labor laws. Unfortunately, this would also impact consumers in the state, as the independence of licensed insurance and financial professionals allows them to effectively serve their clients by offering products and services from multiple insurance companies and financial institutions.

The House passed its version of the $6 trillion+ reconciliation bill (including a $3.8 trillion tax title), but we are still a long way from final action. Changes are expected in the Senate, and then more changes are likely as the House and Senate try to reconcile their two versions of the bill. Details are below. But first: a quick report on a highly successful NAIFA Congressional Conference last week.

NAIFA CEO Kevin Mayeux, CAE, released the following statement in response to the Centers for Medicare & Medicaid Services (CMS) press release announcing an aggressive strategy to enhance and accelerate Medicare Advantage audits:

NAIFA endorses the House budget reconciliation bill for its provisions that assist families and businesses. Ensuring the long-term stability of favorable tax policies will give families and small businesses the predictability essential for smart financial planning, empowering them to make well-informed choices, invest wisely, and strengthen their financial futures.