Advocacy in action blog

NAIFA CEO Kevin Mayeux, CAE, issued the following statement on the Department of Labor’s announcement that it will rescind the federal rule on independent contractor classification:

New guidance from the U.S. Department of Health and Human Services (HHS) will expand consumer access to affordable catastrophic healthcare policies. NAIFA has long advocated for access to affordable catastrophic health plan options.

NAIFA has raised concerns over a new Centers for Medicare & Medicaid Services (CMS) policy to automatically log health care consumers out of their federally facilitated marketplace accounts  after 30 minutes of inactivity. Proposed as a security measure, the time limit “could unintentionally harm consumer access to health insurance coverage and impede the ability of licensed professionals to effectively serve their clients,” NAIFA President Doug Massey wrote in a letter to policymakers.

The Centers for Medicare & Medicaid Services (CMS) has implemented a new security procedure on Friday, August 29, that will require agents and brokers to reconnect their CMS Enterprise Portal Federally-facilitated Marketplace (FFM) account credentials after 30 minutes of inactivity.

NAIFA-New Jersey Grassroots Involvement Chair Jill Van Nostrand asked the New Jersey Department of Labor and Workforce Development to withdraw a proposed rule that would risk misclassifying thousands of independent contractors in the state, including insurance producers and financial advisors, as employees under state labor law. In a comment letter she submitted on behalf of NAIFA-New Jersey, Van Nostrand wrote that the proposal ignores decades of legal precedent and places unnecessary burdens on highly regulated professionals who are already held to strict compliance standards.

The Medicare system, including various Medicare Advantage and Medicare Part D plans, can be very confusing to beneficiaries and older Americans exploring their healthcare options. The guidance of experienced, licensed professionals is often indispensable. NAIFA President Doug Massey recently sent a letter to the chairmen and ranking members of the House Ways and Means Committee, Subcommittee on Health, and Subcommittee on Oversight outlining the role of the agent and suggesting ways Congress can strengthen consumer protections while preserving access to professional guidance. 

Two members of the NAIFA Lifetime Healthcare Center Legislative Working Group, Steve Cain (NAIFA-California) and Steve Schoonveld (NAIFA-Massachusetts), participated in a general session panel at the NCOIL Summer Meeting on trends and innovations in the long-term care insurance marketplace. They were joined by representatives from the American Council of Life Insurers (ACLI) and WA Cares for a dynamic discussion before insurance legislators and regulators from all over the country. The panel emphasized the urgency of planning ahead and highlighted the need for both public and private solutions. Programs like WA Cares offer a foundation, but private LTC insurance remains vital for greater choice and flexibility. With 70% of Americans likely to need LTC, early education, planning, and policy innovation are essential to reduce the financial and emotional burden on families and ensure aging with dignity.

The insurance business is effectively regulated at the state level, protecting consumers by taking into account local market conditions that impact the business. Laws that prevent federal regulations from straying into state-regulated insurance matters are important to avoid consumer confusion and prevent federal rules that could overlap or contradict state regulations. NAIFA supports legislation introduced by former NAIFA member Senator Tim Scott (R-SC) and Representative Bryan Steil (R-WI) that would amend the Consumer Financial Protection Act of 2010 to exempt the insurance business from regulations created by the Bureau of Consumer Financial Protection (CFPB).

The newly finalized reconciliation bill delivers a sweeping set of tax provisions that will shape how financial professionals advise clients - individuals, families, and businesses - for years to come. From income tax and charitable giving to estate planning and business deductions, this legislation locks in key provisions of the Tax Cuts and Jobs Act (TCJA) while adding new tools across multiple areas of financial planning. NAIFA has identified 15 key takeaways that every financial professional should know. Download PDF.

NAIFA CEO Kevin Mayeux, CAE, issued the following statement upon Senate passage of its version of the tax and spending reconciliation bill:

“NAIFA is pleased that the Senate-passed reconciliation bill includes important measures that protect the financial security of American families and businesses. NAIFA members have strongly encouraged lawmakers to include permanent extensions of the 199A tax deduction for pass-through businesses and most of the individual tax rates and deductions that would have expired this year. We have also asked lawmakers to reject a cap on the corporate state and local tax (C-SALT) deduction and new taxes on insurers or insurance products. American consumers will benefit from the fact that the bill preserves the existing tax treatment of financial tools and imposes no new burdens that would prevent insurance and financial professionals from effectively serving the American public. NAIFA will continue to monitor the bill as it now returns to the House for final passage. Major changes that will impact our members or the financial security of the Main Street consumers they serve are unlikely.”