What INVESTMENT ADVISORS need to know about the Safe Senior Act of 2016!
The Safe Senior Act of 2016, H.R. 4538, was unanimously approved by the House this week following last month’s approval by the House Financial Services Committee. This is important news for investment advisors, who are often the first to suspect and witness financial abuse of seniors. The passage addresses the loopholes in the Health Insurance… Read More
New This Week
Aetna & Humana Merger To appease regulators who are concerned over potential antitrust issues as a result of the merger with Humana, Aetna will sell more than $1 billion in assets from their Medicare Advantage portfolio. Although the bid process and sale may take several months, the 8-k forms filed by both insurers in June… Read More
Court Struck Down Bar on Sale of Fixed-Benefits Benefits Coverage
Consumers have the right to purchase stand-alone health insurance coverage, despite the fact that the coverage may not meet the qualification of the Affordable Care Act (ACA), otherwise known as Obamacare. The United States Court of Appeals in Washington, D.C., struck down a rule that barred the sale of stand-alone health insurance products that pay… Read More
Uninsured Millennials… Here Comes Obama
Last week, the Obama Administration announced that they would be searching the tax records of 18-34 year olds in search of uninsured millennials who paid an ACA penalty for not having qualified health coverage in 2015. Since insurance carriers rely on healthy younger people to offset the cost of health care for the aged and… Read More
PBR- New Approach to Life Insurance Reserving
The National Association of Insurance Commissioners (NAIC) announced that they have adopted a new recommendation of reserving life insurance policies. Beginning January 1, 2017, the new principle-based reserving (PBR) standard will be activated over a three-year period. The implementation of PBR will end a 150 year practice of reserving through the use of formulas. Rating… Read More
How Will Brexit Affect US Insurance Industry?
The result of the recent referendum, in which Great Britain voted to leave the European Union could have some impact on the P&C insurance industry, although the effects may not be evident for several years. The European Union (EU) was founded in 1957 and established first as the European Economic Community. Today, the EU is… Read More
Gun Advice for your Clients
The gun debate continues. Proponents of the Second Amendment say their right to bear arms is one of the most fundamental of all of our civil liberties. Opponents argue that gun control, including limiting access to guns, is a public safety necessity. Last year, about 1,500 children were killed by guns, with over 10,000 kids… Read More
Healthcare Premium Notices Arrive as Election
Your clients can expect to see their health care insurance premium renewal notices just in time for the home stretch of the presidential election. Carriers are reporting rate hike requests in the double digits, although the final increases remain to be seen. However, many believe that this will be the year that the increases will… Read More
What’s New This Week?
GOP “A Better Way” Obamacare Replacement Plan House Republicans released their version of the healthcare plan to replace the 2010 Affordable Care Act. The plan, known as The Better Way, includes the use of Health Savings Accounts (HSA), and the sale of insurance across state lines. Key components of the plan include the gradual increase… Read More
What’s New?
Obama Bathroom Mandate It is not enough to offer a transgender student access to clean and safe restrooms, locker rooms, and showers. The U.S Department of Justice ruled that would be discriminatory against a student who “identifies” with a sex other than their biological gender. To ensure inclusivity, the mandate ruled that transgender students must… Read More