On the Hill

The regulation would essentially reverse a rule the Obama Administration issued in 2016 which put restrictions on short-term limited duration health insurance.

On Monday, the Office of Management and Budget released a proposed budget for FY2019 that includes cuts to the Federal Crop Insurance Program, as well as changes to the NFIP.

The NFIP was extended earlier today as part of broader government funding legislation to fund the government through March 23.

On Monday, President Trump signed legislation to end the nearly 70-hour government shutdown and fund the government through Feb. 8. In a win for the Big “I,” the legislation included a two-year delay of the “Cadillac” tax.

On Wednesday, the U.S. House of Representatives Financial Services committee passed H.R. 3746, “The Business of Insurance Regulatory Reform Act,” out of Committee by a vote of 37-18.

The NFIP is set to expire tomorrow as part of a broader government funding debate, unless Congress passes a continuing resolution to keep the federal government open.

This week, the Big “I” joined the National Association of Health Underwriters and a group of other agent and broker organizations in sending letters to four legislators to thank them for their work on Medical Loss Ratio legislation.

At press time, U.S. Sens. Johnny Isakson and Chris Coons were expected to introduce bipartisan legislation later today which would clarify that agent compensation is not part of the Medical Loss Ratio formula as enacted in the Affordable Care Act.

Today, the Trump Administration followed up on an October executive order by releasing a new proposed rule that would expand access to association health plans.

On Dec. 22, 2017, President Trump signed into law the widest-ranging tax reform legislation in decades. The legislation will impact the tax liability of agents and brokers in 2018 and beyond.