Advocacy in action blog

The U.S. House of Representatives is currently considering introduction of the Protecting the Right to Organize Act (PRO Act) along mostly party lines, likely in April 2021. This wide-reaching bill seeks to reform current labor law in a variety of areas. Impacting the insurance industry, the bill amends the National Labor Relations Act (29 U.S.C. 152(3)) by adding language that expands the definition of “independent contractor” by adopting an “ABC” test to define who is an “employee.”

The White House has released a fact sheet clarifying some aspects of the latest round of Paycheck Protection Program (PPP) funding that opened a month ago. The PPP provides loans to small businesses, including NAIFA members and their clients, impacted by the COVID-19 pandemic. The low-interest loans may be forgiven if the businesses that receive them meet certain conditions.

The Biden Administration has confirmed that the Department of Labor (DOL) will move forward with a prohibited transaction exemption (PTE) for financial professionals who provide retirement plan advice. DOL previously announced the new PTE on December 15 during the Trump Administration. It goes into effect February 15.

On Friday, February 12, the Center for Medicare and Medicaid Services (CMS) announced that, in accordance with an Executive Order signed by President Biden, a Special Enrollment Period for the Health Insurance Marketplace will be available in the 36 states using the HealthCare.gov platform. The SEP will be available from Monday, February 15, through Saturday, May 15 for most states.

The National Association of Insurance and Financial Advisors (NAIFA) is pleased to welcome Maeghan Gale as a Policy Director. Gale will join NAIFA’s Government Relations team on February 1 and will report to Senior Vice President for Government Relations Diane Boyle.

In case you missed it, HealthCare.gov sent a notice that the Department of Health and Human Services has announced a Special Enrollment Period (SEP) for individuals and families for Marketplace coverage in response to the COVID-19 Public Health Emergency the notice says: 

NAIFA is hopeful that the 117^th Congress will reintroduce and enact the Securing a Strong Retirement Act of 2020 (SSRA), bipartisan legislation with many provisions to make it easier for employers to offer plans and to encourage higher participation rates by employees.

NAIFA congratulates President Joe Biden and Vice President Kamala Harris on their inauguration and looks forward to working with the Biden administration on policies to promote financial security and access to financial products, services, and advice for all Americans.

On Wednesday, January 13, NAIFA members Elie Harriett and Alan Winstead participated in an invitation-only roundtable hosted by the Department for Health and Human Services’ Center for Medicaid and Medicare Services. The discussion centered around marketplace policies and initiatives that impact agents and brokers.

The U.S. Department of Labor (DOL) announced today a final rule clarifying the standard for employee- versus independent contractor-status under the Fair Labor Standards Act (FLSA). NAIFA has worked closely with DOL to ensure an equitable rule that considers the needs of the insurance industry. NAIFA submitted comments on DOL’s rulemaking on October 26, 2020.