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February 18, 2013
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News covering the insurance and financial advising industry

  Top Story 
 
  • Program depletes funds for "high-risk" health coverage pools
    Funding is running out for a program aimed at providing health insurance to those with pre-existing conditions, federal officials said. The program established state "high-risk pools" three years ago and was intended to accept applications until 2014, but it will wind down its acceptance of new applicants by March 2. "We're being very careful stewards of the money that has been appropriated to us and we wanted to balance our desire to maximize the number of people who can gain from this program while making sure people who are in the program have coverage," said Gary Cohen of the Department of Health and Human Services. The Washington Post (2/15) LinkedInFacebookTwitterEmail this Story
  • NAIFA: Capability of PCIP "woefully off": In order to ensure that funds are available through 2013 to cover those enrolled in the Pre-Existing Condition Insurance Plan, new applications will no longer be accepted. "The capability of this program was woefully off," NAIFA said. Officials initially estimated that the initiative would cover as many as 375,000 individuals by the end of 2010. Read more at the NAIFA Blog. LinkedInFacebookTwitterEmail this Story
Reasons to plan: the video your female clients must see.
We asked 10 women to describe their experiences with aging and chronic illness. What they said may surprise you and change the way you help your clients prepare for their future.
Watch our video now at prudential.com/reasons.

  Industry News 
  • States, insurance companies partner for long-term care
    Aging baby boomers soon will face the high costs of long-term care, but few Americans have long-term-care insurance. The burden for those who cannot afford care falls to states, which pay for Medicaid. Many states are partnering with insurance companies in plans that allow seniors with long-term-care insurance to qualify for Medicaid without losing their assets if their costs exceed insurance coverage. The idea is to get more people to purchase insurance. Medill Reports (Northwestern University) (2/14) LinkedInFacebookTwitterEmail this Story
  • Survey: Gen X, Gen Y say their financial expertise is limited
    Twenty percent of Generation X and Y consumers say they use a financial adviser, and only 14% consider themselves "very knowledgeable" about the product options available, according to a LIMRA survey. Among Gen X households, 43% of their $3 trillion in assets are in pension and retirement accounts, with 30% in IRAs and two-thirds in defined-contribution plans, LIMRA says. Less than 50% of Gen X members said they save more than 8%, while one-fifth of Gen Y respondents said they're saving less than 3%. AdvisorOne (2/15) LinkedInFacebookTwitterEmail this Story
  • Other News
5 tips for managing negative online comments
The Internet gives your customers a voice online, but what can you do when that voice is yelling negative comments? With 5 tips, you can learn how to positively respond and help direct the conversation. Read the article and learn the 5 ways to respond positively.

  Investment Trends 
 
  • Study: 401(k) providers are slow to drop their own lagging funds
    Poor-performing funds are more likely to remain in a 401(k) plan if they are managed by the company operating the plan, a research report says. Plan trustees have competing interests -- investors' returns and their own proprietary funds, according to the researchers from the University of Indiana and the University of Texas. MarketWatch/Encore blog (2/13) LinkedInFacebookTwitterEmail this Story
Building Workplace Trust 2015
Interaction Associates' 6th annual research study tracking trust on the job, Building Workplace Trust, is out, and more than half of employees surveyed give their organizations low marks for trust and leadership. Yet this year's findings again point to how high trust leads to better outcomes and financial results — and even boosts innovation.

  Policy Watch 
 
  • States, feds take various approaches to health insurance exchanges
    States are grappling with the challenge of making their health insurance exchanges functional by the Oct. 1 enrollment date, experts say. Washington, D.C. and 23 states have committed to running their own exchanges, while almost all other states have chosen to largely default to federal oversight. But the form and number of state exchanges may change over time, according to some experts. "Many of the states have just run out of time for a variety of reasons. I'd be surprised if in the longer run every state didn't want to have its own approach," said Christine Ferguson of the Rhode Island Health Benefits Exchange. The Washington Times/The Associated Press (2/16) LinkedInFacebookTwitterEmail this Story
  • Other News
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Hot Topics 

Top five news stories selected by NAIFA SmartBrief readers in the past week.

  • Results based on number of times each story was clicked by readers.
  Building Your Business 
 
  • Voluntary benefits: A key opportunity for brokers to build business
    As interest in and diversity of voluntary products continues to grow, brokers will continue to see opportunities to meet employers' needs. Often a single voluntary offering will lead to new opportunities as employers expand their offerings. Among accounts that include voluntary offerings, 74% of small ones, 67% of medium ones and 65% of large accounts offer at least three voluntary products. National Underwriter Life & Health (2/12) LinkedInFacebookTwitterEmail this Story
How to Achieve IT Agility: A Survival Guide for IT Decision Makers
When business teams add new apps and services to already-strained networks, IT departments are accountable for making everything work. Is your team ready for this challenge? Read this eGuide to learn how IT teams are automating their networks, why they're utilizing Ethernet fabrics and SDN, and what success looks like as they regain network control and business relevance.

  NAIFA News 
  • NAIFA responds to the State of the Union tax proposal
    President Obama issued a strong endorsement of comprehensive tax reform in his State of the Union address. Acknowledging the president's call for "bipartisan, comprehensive tax reform that encourages job creation and helps bring down the deficit," NAIFA President Rob Smith responded, "However, now is not the time to make it harder or more expensive for families to build their own financial safety net." Read more at the NAIFA Blog. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Paradise is here or nowhere: you must take your joy with you or you will never find it."
--Orison Swett Marden,
American author


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