House bill would postpone ACA's health insurance tax for another year | Common mistakes life insurance agents make | Expert: Employers should consider shifting pension liabilities to annuities
May 25, 2018
NAIFA SmartBrief
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House bill would postpone ACA's health insurance tax for another year
Four House lawmakers have introduced a bill that would postpone the Affordable Care Act's tax on health insurance -- already on hold in 2019 -- until 2021. America's Health Insurance Plans praised the move, noting the suspension "will help to lower premiums for everyone, whether they get coverage through their jobs, buy their own coverage, or enroll in Medicare Advantage or Medicaid."
The Examiner (Washington, D.C.) (5/24),  Modern Healthcare (tiered subscription model) (5/24) 
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Industry News
Common mistakes life insurance agents make
Insurance marketing expert John Graham says there are several common mistakes insurance agents make that limit their sales. Among them are failing to adequately educate the client, not asking enough questions, not offering enough choices and failing to identify cross-selling opportunities.
ThinkAdvisor (free registration) (5/24) 
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Expert: Employers should consider shifting pension liabilities to annuities
Many employers would be wise to look into transferring their pension liabilities to an annuity purchased from an insurance company to reduce the size of the plan, says Elliot Dinkin, president and CEO of Cowden Associates. Taking that step can give a company greater control over its expenses and risks, he says.
Employee Benefit News (5/23) 
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Investment Trends
Early financial lessons might affect attitude toward money
People's attitude toward money, spending and saving is often shaped by lessons learned from their parents. It's critical to recognize these "money scripts" and to avoid repeating mistakes.
U.S. News & World Report (5/22) 
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Women less confident in making retirement investments
Only 35% of college-educated women report feeling confident they can manage investments in their self-directed retirement accounts, compared with 60% of college-educated men and 41% of men who only hold high-school diplomas, according to a Federal Reserve survey. The difference may be exacerbating the gap in retirement savings between the genders, writes Jordan Yadoo.
WealthManagement/Bloomberg (5/23) 
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Policy Watch
CBO: Government spending $705B on health coverage assistance
A Congressional Budget Office report estimates that the federal government will spend approximately $705 billion on health insurance assistance this year, which translates to $2,582 per American under 65. Of the total, $82 billion will go to people under 65 who qualify for Medicare, $49 billion will go to the Affordable Care Act premium tax credit program and $4 billion will go to ACA's Basic Health Program.
ThinkAdvisor (free registration) (5/24) 
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SEC chief explains why "fiduciary" not included in best-interest rule
Securities and Exchange Commission Chairman Jay Clayton told attendees at the Financial Industry Regulatory Authority's annual conference that the word "fiduciary" was left out of the SEC's Regulation Best Interest to avoid investor confusion. "It's important for an investor to understand that the relationship model of the broker-dealer is different than the relationship model of the investment advisor," he said.
ThinkAdvisor (free registration) (5/24) 
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Outgoing commissioner defends SEC standard, criticizes Labor rule
Michael Piwowar, outgoing Securities and Exchange Commission member, defended the SEC's best-interest standard at a conference in Washington, saying, "We think we got most of the important things right." He called the Labor Department's fiduciary rule "an unworkable, impossible set of standards for people to comply with."
InvestmentNews (tiered subscription model) (5/24) 
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Harker: Fed may pause rate hikes after 2019
Philadelphia Federal Reserve President Patrick Harker indicated the Fed may raise rates three times this year and another three times next year, and then pause. Harker added that we could see a fourth rate increase in 2018 if inflation accelerates, but said he's not seeing evidence of that.
CNBC (5/25) 
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Building Your Business
10 tips for conveying your point in a tactful way
There are several areas in which advisors may want to rethink the way they communicate certain things to clients or prospects, writes Bryce Sanders of Perceptive Business Solutions. He offers 10 tips for discussing fees, referrals and potentially leaving an advisor, among others.
ThinkAdvisor (free registration) (5/24) 
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NAIFA News
Special NAIFA LUTCF promotion
The College for Financial Planning and NAIFA are providing you with an exclusive pricing discount on the LUTCF® Professional Designation Program and coursework this May. Through May 31, you can save $100 off each of the three LUTCF® courses and $300 off the complete LUTCF® program. Go here for more information.
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Only in growth, reform and change, paradoxically enough, is true security to be found.
Anne Morrow Lindbergh,
writer and aviator
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