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.
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.