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.
In catastrophe-exposed areas, some homes are experiencing rate increases as high as +15% heading into the New Year.
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.
The NFIP is set to expire tomorrow, Friday, Dec. 22, unless Congress passes a continuing resolution to fund the government into early next year.
The U.S. Senate passed the legislation early Wednesday morning and the U.S. House of Representatives followed suit later the same day. President Trump is expected to sign the legislation into law in the coming days.
IA editors and Big “I” leaders round up the year’s biggest stories for the independent agency system.
Late Friday, tax conferees in the U.S. House of Representatives and U.S. Senate released their final version of tax reform legislation.
On Friday, FEMA released a memorandum outlining procedures if there is a lapse in authority for the NFIP, which is currently reauthorized through Friday, Dec. 22.
This week, tax conferees in the U.S. House of Representatives and U.S. Senate agreed in principle on the final version of tax reform legislation.