National Association of Insurance and Financial Advisors

 

NAIFA Oregon News


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  • 14 Jun 2017 3:47 PM | Mary Louise VanNatta, CAE (Administrator)

    NAIFA Oregon

    Combined Governmental Affairs/Health Conference Call, 6/14/17

    In attendance:

          Roger Beyer, lobbyist

          Lisa Lettenmaier, State President-Elect

          Laura Powell

          John Thunell

          Paul Hagemann

          Tracy Boster

          Mary Louise VanNatta, Staff, Sidney Gallardo

    Meeting called to order at 9:03 a.m.

    Governmental Affairs- Roger Beyer

     

    Session Overview

          26 days left in the session

          Senate said they will be done early

          House has all the tax bills and haven’t passed any. They will probably hold those until they get what they want from the Senate.

    HB 2830: http://gov.oregonlive.com/bill/2017/HB2830/  (Gross Receipts tax)

          Gross receipts tax on the table, would tax companies with gross receipts of $3mil or more

          Public Hearing was June 13 (NFIB, HBA, NAIFA testified in opposition, rest were in support).

          The bill is projected to raise $1B

          For Insurance and Financial firms, only dollars kept by entity (commissions, etc.) are taxable

          Business owner (Agency Owner) would have to pay tax on all gross commissions received, regardless if some of the commissions were paid out to a 1099 agent

          Currently, if you are a pass-through entity (S-Corp, LLC) you get a preferred tax rate based on a “pass-through rate differential” …with this law, the preferred tax rate would go away

          Some C-corps will be hit very hard

          Even though the public voted this down in the Fall of 2016 (Measure 97) the legislature is still trying to push this through

          If it passes the House and Senate, the only option to stop it would from becoming law would be to refer it to the voters. There would only be (90) days from the point it passed to gather the necessary signatures

          Roger is hopeful there aren’t enough votes for this, they would need (1) Republican vote in the House and Senate since the Democrats do not hold a “super majority.”

    HB 2391 http://gov.oregonlive.com/bill/2017/HB2391/ (Hospital Tax)

          Both sides seem to agree with the provider tax (increase hospital provider tax)

          Loophole in Medicaid law that a state is reimbursed 2 to 1 (every $1 we spend we get $2 federal in return)

          The State taxes hospitals, uses money to put into Medicaid and the Fed’s match 2-1 and give the money back to the hospitals

          It is a way to get more federal dollars…not sure how this would be affected if the Feds adjust the Medicaid Expansion from the ACA

          The problem with the bill is that the Speaker (Tina Kotek) wants a 1.5% tax on health insurance premiums and is unwilling to take that out of the package. With that in the bills language, even some Democrats are reluctant to vote yes for the bill as the 1.5% premium tax would go straight to the consumer.

    SB 95  (Mandatory reporting of suspected Elder financial abuse)

          Awaiting final report in the House.

          Of the (4) definitions of when a “mandatory report” would be a crime, the first three are actual crimes. The fourth item was modified to read “when income or assets are being used for the benefit of someone other than the account holder AND “without the account holder’s consent.”

    •       For example; If an advisor believed that a POA is using a person’s funds without their consent, then a report would need to be made

          Only Financial Advisors have this new Class D regulation because other mandatory reporters do not have access to consumer’s financials (like physicians, etc.)

          Financial advisors who work for financial institutions (banks) do not have to be reporters but they have other regulations that make them mandatory reporters if they suspect abuse

          Another amendment changes it from a criminal act for failure to report with a $2,000 fine to a $1,000 max Civil fine.

          This bill has seen improvements in many areas do directly to the work of NAIFA OR, our lobbyist, Roger Beyer, who negotiated directly with the Senate committee members and several of our NAIFA OR members who gave of their time to review the bill and voice their concerns. A BIG Thank You to all involved!!!

    SB 332 (Insurance Rebates)

          Passed both Senate and House.

          Our arguments were not as compelling as Nationwide.

          State Farm went to neutral because of Senate amendments and NAIFA Oregon then lost traction.

    SB 828: (Predictive Scheduling)

          Has become a Retail Bill (Walmart & Wilco)

          The bill will probably get moved out of the Senate Committee

          Affects retail employers who hire more than 500 employees in the State who are not protected under a union.

     

    HB 3083 (Requires DCBS to do a study on how to stabilize health insurance exchange)

          Currently in Ways and Means

          Doesn’t seem to be going anywhere due to lack of funding.

    SB 977  (Non-Compete Bill)

          Bill died in Judiciary committee due to lack of support

          There will be a summer work group on the issue

          Would have changed (18) month limit to (6) month limit on non-compete

          The bill does not specifically address 1099 agents

          NAIFA Oregon will monitor the workgroup this summer.

    National Issues

          Congress did repeal the requirements for State Run Retirement Plan.

          Oregon is going forward and rules will go out for comment.

          July 1 will be the start. Comment period is now open.

          Two clauses are added: 

          Program is not an employer-sponsored plan.

          Employee participation is completely voluntary.

          Any initial legal challenge may come from an employer who is required to do this.

          Any employee who puts their money in the system and it doesn’t make money (and they feel they have been wronged by the State or the employer) could go to ERISA for protection.

    • ·       July 10 is Sine Die for Salem Legislature (the official end of this session)
    • o   There is talk of a special session in September depending upon National actions regarding tax cuts and/or ACA repeal/replace efforts which could affect Oregon’s budget.

    Health- Lisa Lettenmaier

          Atrio will no longer sell Individual and group health plans as of Dec. 31, 2017...this will mean that they will not be allowed to re-enter the market for (5) years

          Zoom health plans will also close as of Dec. 31, 2017.

    •       There are some serious financial concerns and an investigation is underway

          Carriers have filed their initial rate requests for 2018, the state should release their approved rates by late July

          Lowest request is from PacificSource (only want 6.9% increase) rest want an average increase of 12.5 to 20.7%

    •       Providence is asking for 20.7%

          Small group market is doing better, a few carriers requested average increase of 8% but most are averaging between 2 to 5 %.

     

    National Level

          Humana is pulling out of the individual health market in the exchange.

          Currently (45) counties in the USA that will have no insurance companies to choose from on the exchange, (1200) counties will only have (1) carrier to choose from…that is 40% of the counties in the country. These numbers could get worse.

          Carriers are tired of losing money and there is uncertainty whether the Trump administration will continue to pay the “cost sharing subsidy”

    •       This is the subsidy that reduces the amount of deductible and out of pocket costs a consumer is subject too

          Regence and Asuris are pulling out of the Washington Exchange

          Big concerns for consumers and what choices they will have for health plans in 2018.

    Adjourned at 9:51 a.m.

    Next Meeting: Wednesday, July 12, 2017, 9 a.m.,

    Dial in: 1-503-210-2091, Conference Bridge 2, Code: 6931


  • 26 Apr 2017 8:21 AM | Jess Campbell (Administrator)

    The Progressive rebating bill has been scheduled for a public hearing in the House Health Care Committee.  The hearing is at 3:00 PM on Monday May 1st.  If anyone would like to come testify please let me know so I can make sure to coordinate testimony with them.

    Info is below.


    Roger Beyer

    roger@rwbeyer.com


    Measure: SB 0332
    Committee: HHC
    Committee Type: HHC
    Date: 2017-05-01 3:00 PM
    Agenda Number: 2
    Client: NAIFA
    Meeting Type: Public Hearing and Possible Work Session
    Category: 
    Meeting Location: HR E
    Employee: Roger Beyer
    Position: Oppose - 3
    Status: 
    Comments: 
    Catch Line: Provides that prohibition against person offering rebate of premium does not prohibit giving, as form of advertising, as promotional program or as promotional material, prize, goods, wares, merchandise, articles or property with aggregate value that does not exceed $100 in calendar year to insureds other than persons for whom insurer issues health insurance or health benefit plan.


    The Progressive rebating bill has been scheduled for a public hearing in the House Health Care Committee.  The hearing is at 3:00 PM on Monday May 1st.  If anyone would like to come testify please let me know so I can make sure to coordinate testimony with them.

    Info is below.


    Roger Beyer

    roger@rwbeyer.com


    Measure: SB 0332
    Committee: HHC
    Committee Type: HHC
    Date: 2017-05-01 3:00 PM
    Agenda Number: 2
    Client: NAIFA
    Meeting Type: Public Hearing and Possible Work Session
    Category: 
    Meeting Location: HR E
    Employee: Roger Beyer
    Position: Oppose - 3
    Status: 
    Comments: 
    Catch Line: Provides that prohibition against person offering rebate of premium does not prohibit giving, as form of advertising, as promotional program or as promotional material, prize, goods, wares, merchandise, articles or property with aggregate value that does not exceed $100 in calendar year to insureds other than persons for whom insurer issues health insurance or health benefit plan.

  • 30 Mar 2017 10:14 AM | Mary Louise VanNatta, CAE (Administrator)

    NAIFA Oregon held its annual awards banquet on March 30, 2017 at the Salem Convention Center.

    C. Tracy Boster, President of Blue Mountain Association was honored with Senior Agent of the Year.

    Laura Powell was named Health Agent of the Year and

    David Willis was honored with the prestigious Bud Horn Award.  Pictured below with John Lenz.



  • 30 Jan 2017 4:17 PM | Mary Louise VanNatta, CAE (Administrator)

    NAIFA Action Alert on SB 95

    SEE OUR POSITION HERE: NAIFA Position for SB 95 (1).docx

    Roger Beyer, NAIFA Oregon lobbyist

    The following bill has been introduced in the 2017 legislature and has been scheduled for a public hearing on Monday 2/13/2017 1:00 PM, HR D at the State Capitol.

    SB  0095- Requires certain securities professionals to report suspected financial exploitation of elderly, disabled or vulnerable individual to Department of Consumer and Business Services and Department of Human Services. Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation.

    Your State Board has voted to Oppose this measure as drafted and has adopted the attached position statement. 

    To find out if your Senator is on the Human Services Committee listed below, use this link.

    Senator Sara Gelser, Chair                Albany, Corvallis, Philomath, Millersburg, Tangent        

    Senator Alan Olsen, Vice Chair         Canby, Oregon City, Gladstone, Estacada and the rural areas between them.

    Senator Tim Knopp                             Bend, Redmond, Sunriver, and Tumalo

    Senator Michael Dembrow                 SE and NE Portland and the city of Maywood Park

    Senator Laurie Monnes Anderson      Gresham, Troutdale, Fairview, and Wood Village

    If your Senator is on the list, Please contact them at once and ask them to make the changes requested in the attached document.

    Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation. Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation.Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation.

    Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation.

    Punishes failure to report by maximum of $2,000 fine. Permits certain securities professionals to report suspected financial exploitation to third parties previously authorized to receive financial information about suspected victim. Permits broker-dealers and state investment advisors to delay disbursements in order to investigate suspected financial exploitation



  • 02 Dec 2016 4:50 PM | Mary Louise VanNatta, CAE (Administrator)
    Wednesday - March 29, 2017 NAIFA Oregon Conference at the Salem Convention Center, Salem, Oregon

    Thursday - March 30, 2017 Day on the Hill, State Capitol, Salem

    $199 for two days!

    Sponsorships Available 

    More info to come!

  • 18 Oct 2016 11:21 AM | NAIFA Oregon (Administrator)



    FOR IMMEDIATE RELEASE

    Contact: Mary Louise VanNatta, CAE 503-371-7457 execdirector@naifaoregon.org


    For Immediate Release

    Oct. 17, 2016 (Salem, Oregon) - The National Association of Insurance and Financial Advisors (NAIFA) has joined with more than 26,000 Oregon consumers, small businesses, family farmers, health care professionals, educators, community leaders and organizations from every part of the state to defeat Measure 97 and its $6 billion price tag. 

    Lisa Lettenmaier, owner of Health Source NW in Tigard and health chairperson for the association said she is concerned that insurance rates will be impacted is Measure 97 passes.

    “As an example, PacifiSource is estimating it will cost them $20 million or more in ‘sales tax’ if Measure 97 passes.  If the carrier has to pay more in taxes it will directly affect the premiums we all pay.  We have seen that hold true with taxes that were imposed on carriers in the Affordable Care Act,” Lettenmaier said.

    Measure 97 would impose the largest-in-the-nation tax on sales of goods and services. It has no exemptions—not even for essentials like food, utilities, and medicine. Nonpartisan economists at Oregon’s Legislative Revenue Office (LRO) and Portland State University’s Northwest Economic Research Center concluded that most of the cost increases from Measure 97’s $6 billion tax hike would be passed on to Oregon consumers, small businesses and family farmers. 

    Oregon can also expect to lose over 38,000 private sector jobs if Measure 97 were to pass, according to state economists at the LRO. 

    NAIFA Oregon President, Sheri Weber, of dibrokerWest of Lake Oswego is concerned. “This measure, if it passes, will function as a hidden sales tax and will cause even higher prices for insurance costs to consumers and this is something they simply cannot afford.”

    Measure 97’s deceptive language tries to make voters believe the money would be dedicated to education, health care and senior services. But the legislature’s chief legal authority, Legislative Counsel, has declared the legislature could spend the money “in anyway it chooses.” Oregon voters deserve better.

    To learn more about Measure 97’s costly tax on sales and coalition members urging a NO vote, please visit www.Defeat97.org

    About NAIFA: Founded in 1890 as The National Association of Life Underwriters (NALU), NAIFA is one of the nation’s oldest and largest associations representing the interests of insurance professionals from every Congressional district in the United States. NAIFA members assist consumers by focusing their practices on one or more of the following” life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA’s mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members. NAIFA Oregon is the Oregon association of NAIFA; PO Box 2881, Salem Oregon, 97308, 503-371-7457. 

    ### 

    Click on the links below for additional resources.

  • 14 Oct 2016 3:25 PM | Mary Louise VanNatta, CAE (Administrator)

    Beloved member of NAIFA Oregon, Rhonda Kastberg Crunican of Beaverton, passed away on October 5, 2016. We send our deepest sympathies to her friends and family.

    There will be a celebration of life on November 6, 2016, 3 – 6 p.m. at THPRD Nature Center, 15655 SW Millikan Way, Beaverton, OR 97003. Donations, in Rhonda’s name, to Best Friends Animal Society Sanctuary – http://bestfriends.org/ – are sincerely appreciated.

    A complete obituary can be found here.


  • 14 Oct 2016 11:56 AM | Mary Louise VanNatta, CAE (Administrator)

    At the October 14, 2016 Board Meeting, the NAIFA Oregon board voted to join the "No on 97" coalition.  Concerns about increasing costs to their customers, consumers and insurance providers is their primary concern.  Learn more with the fact sheet here.

  • 12 Oct 2016 4:45 PM | Mary Louise VanNatta, CAE (Administrator)

    Click here for a link

  • 01 Jul 2016 10:22 AM | NAIFA Oregon (Administrator)

    The latest e-newsletter is here! Highlights include NAIFA Oregon's state conference review, IFAPAC update, Legislative update and more! 

    Click here to read the latest news!


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Address: PO Box 2881, Salem, OR 97308 ● Phone: 503-371-7457 ● Fax: 503-585-8547 ● Email: Office@naifaoregon.org

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