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NAIFA-Texas Position on Healthcare Reform
NAIFA-Texas is committed to the preservation of the private delivery of health insurance. We oppose the creation of a public plan that would unfairly compete against private insurance companies in the health insurance marketplace. We oppose any plan that diminishes or eliminates the important role that agents perform in the marketing, selling and servicing of health insurance. NAIFA-Texas believes that we must build upon the strengths of the current system, reduce costs, insure coverage for more Texans, and improve value throughout our health-care system without resorting to new government programs or jeopardizing the high quality of care we enjoy and expect as Texas consumers. |
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Looking to make an impact where it counts?
Showcase your useful products and services to the trade leaders, buyers and decision makers in our prestigious organization!
85th NAIFA-Texas Annual Meeting, Association Leadership Conference and Texas Leaders Round Table Roundup.
July 15-16, 2010
Embassy Suites San Marcos, Texas
Hundreds of members gather for topnotch speakers and to browse the exhibit area to see what's new in products and services that can help them improve their bottom line. Your products and services might be just what they need!
Click here to download a 2010 Vendor Prospectus form |
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There are more reasons than ever before to be a member of the Texas Leaders Round Table. Not only will you be honored and recognized for your hard work as one of the elite financial services professionals in Texas, you will also receive discounted registration to the 2010 TLRT Roundup, July 15-16, 2010 at the Embassy Suites Hotel in San Marcos, Texas.
The TLRT Board has recruited a stellar lineup of speakers including Mark Anthony Garrett, author of 7 Secrets to Enhancing Personal and Business Relationships While Delivering Outstanding Service, and Robin Mueller, two time All-American gymnast and informative speaker who combines real life experiences and insights, mixed with humor and powerful messages, to motivate you to action.
All applications must be postmarked on or before March 30, 2010 and returned to the NAIFA-Texas office.
Become a member of TLRT today and join the ranks of Texas Leaders!
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NAIFA-Texas and 360 Training have partnered together to bring members an unlimited amount of insurance continuing education courses for only $35.00. Click here to view the courses offered.
As you know, the Texas Department of Insurance requires that you complete 30 hours of continuing education every two years. Fifteen of the thirty hours must be completed in a classroom or classroom equivalent setting. Online courses through 360 Training qualify as "CLASSROOM EQUIVALENT" courses that can be completed in your office or home.
Click here for more information and requirements on Texas insurance continuing education. |
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Membership News
2nd Membership Benchmark Goal Achievers
Large Local:
NAIFA-Austin
NAIFA-Houston
Medium Locals:
NAIFA-Pineywoods
NAIFA-TX Gulf Coast
NAIFA-Amarillo Area
Small Locals:
NAIFA-Texoma
NAIFA-Waco
Plainview AIFA
NAIFA-Wichita Falls
Upper Valley AIFA
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NAIFA-Texas IFAPAC News
***Congratulations***
Local Board Members
100% PAC Participation
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NAIFA-Amarillo
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NAIFA-Austin
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NAIFA-Corpus Christi
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NAIFA-Dallas
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NAIFA-El Paso
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NAIFA-Fort Worth
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NAIFA-Great Southwest
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NAIFA-TX Gulf Coast
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NAIFA-Houston
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Mainland AIFA
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NAIFA-Pineywoods
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NAIFA-Texoma
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NAIFA-Wichita Falls |
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Endorsed Professional Liability Program |
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Errors & Omissions Insurance
The NAIFA-endorsed Professional Liability Insurance Program provides quality errors and omissions coverage (E&O) to NAIFA members. The program offers comprehensive professional liability insurance, superior customer service, an easy application process, and competitive rates. For information on all available coverage options and features, and/or how to apply, visit: www.naifainsurance.com | | |
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BREAKING NEWS! A Republican win in the Massachusetts special election Jan.19, to replace the late Sen. Edward Kennedy, could halt the Democrat-backed health care bill in the Senate or force a quick vote on the pending bill, to avoid losing the 60 vote filibuster proof edge that the Democrats currently enjoy in the Senate. A win in this election by State Senator Scott Brown, a Republican, over Democrat State Attorney General Martha Coakley, at the very least, would force a change in strategy to secure passage of a reconciled House and Senate version of a health care reform bill. Brown is committed to oppose the bill; Coakley, to support it. |
Healthcare Reform at Critical Stage; Action Needed
As closed door negotiations continue in Washington to finalize a health reform bill to bring to the House and Senate floors, it is important that the points set forth in the document linked here be made to Texas lawmakers by their NAIFA-Texas member constituents, says NAIFA-TX CEO/Chief Legisative Officer Des Taylor. The health reform bills being melded for final passage include a number of NAIFA-initiated improvements. Starting back on April 15, 2009, the White House Office on Health Reform stated: "A public plan is something that's sponsored by the government, and therefore has very low or almost nonexistent administrative costs, compared to others. It doesn't have the need to have brokers out selling;it wouldn't have the need to have a lot of costs and profits, the way private plans would. So it has that advantage." In addition to no role for the licensed professional agent, initial health reform efforts under consideration included a government-run plan; national exchange; taxes on life insurance and annuities; taxes on employer-provided health plans; taxes on FSAs, HSAs, HRAs; elimination of HSAs; new government-run LTC program; and repealing McCarran Ferguson. NAIFA's efforts to remain active participants in the legislative process have resulted in:
- No tax on life and annuity products to pay for reform
- Meaningful role for the agent in reformed system
- Agent commission rates not controlled by HHS Secretary
- FSA Cap Indexed
- No Government-run plan in Senate Bill
- No change in current Antitrust Exemption in Senate Bill
- State Exchanges in the Senate Bill, not federal Exchanges that Texas' 11 House Democrats support in the House Bill
While these accomplishments are significant, further improvements can and need to be achieved. We believe remaining active gives us a better chance to shape the bill into the best legislation possible within the current political environment. Email or Call your Representative. Texas' two Senators, Hutchison and Cornyn, are supportive of our postioin. If you do not have time to make calls now, please take a moment to program their numbers into your cell phone and call on the way to your appointments. Urge your friends, clients and colleagues to do the same by using this Tell a Friend link.
We believe that the ongoing debate in the 111th Congress over healthcare reform sends a clear message that the Texas Legislature will have healthcare and tax issues at the top of their agenda as well. The Regular Session of the 82nd Texas Legislature convenes January 11, 2011. |
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Pending Investor Protection Act Poses
Threat to Agents' Income/Commissions
As proposed, Section 913 of the Restoring American Financial Stability Act of 2009 ("the Act") would force life insurance agents who already are qualified as registered representatives and supervised by the SEC and FINRA to register as investment advisors -- and thereby take on more responsibilities, more expenses, and more liability. Accordingly, NAIFA is asking the Senate Committee on Banking, Housing and Urban Affairs to consider the enormously costly and counterproductive impact of Section 913 of the Committee Print of the Act, including reduced customer access and service, reduced financial protection of Americans, and loss of capital formation and jobs.
Texas Senator Kay Bailey Hutchison is one of the twenty-three members of the Committee who are considering the legislation and who NAIFA has asked to oppose Section 913 in its current form. Click here to view a copy of a joint letter from NAIFA, AALU and NAILBA to Committee Chairman Christopher Dodd and Ranking Member Richard Shelby. Click here to view talking points that may be used in contacting Senators on the Committee.
Contact NAIFA-Texas CEO & Chief Legislative Officer for additional information including the potential implications of the proposed legislation on agent commissions/income. | |
Estate Tax Lapse Creates Legal Uncertainties
The lapse of the estate tax as of January 1, 2010 raises the potential for litigation that could thwart the estate plans of anyone who dies during the period before Congress acts to restore the tax. The legal question focuses on the validity of retroactive tax provisions and, according to Washington sources, the chief counsel of the House Ways and Means Committee has drafted an opinion that making a future tax law change retroactive to January 1, 2010 would not be constitutional. There is disagreement among tax lawyers as to how the constitutionality of retroactive change would ultimately play out.
Expiration of the estate tax at the end of the year marks the first time since 1915 that there has been no estate tax, according to the Journal of Financial Services Professionals. There was no estate tax from 1870 to 1898. It was repealed in 1902, then reinstated in 1916, according to the Journal.
The estate and generation-skipping transfer taxes expired at the end of 2009. The House voted in December to extend the 2009 estate tax rules into 2010 and beyond. But the Senate refused to act before leaving for their break for the holidays, even failing to extend current law for 3 months on Dec. 16 at the request of Sen. Max Baucus, D-Mont. They did so because the Democratic leadership could not get the unanimous consent needed to win passage of the short-term extension because Republicans object to the tax. Congress said before it left that they will revisit the tax early in 2010 and will likely approve retroactive provisions.
"We are in a fluid environment," said Sarah Spear, director of policy and public affairs for the Association For Advanced Life Underwriting. The timing and vehicle for the 2010 fix of the estate tax remain unclear, but it most likely would reinstate the tax at 2009 levels and retroactively apply the $3.5 million exemption level and 45% percent rate to January 1, 2010, she said.
The AALU is preparing a memo with techniques and analysis of how best to manage a temporary repeal of the estate tax and retroactive application so that insurance professionals can best serve their clients, Spear said. The memo would address the constitutionality of retroactively extending the estate tax, managing estate tax returns for decedents who pass within the window frame of repeal, how to address the carryover basis rules, and other planning scenarios, she said. |
Rules Impact Agents Selling "Complex Products"
The Texas Department of Insurance (TDI) has published proposed rules to implement legislation passed by the 81st regular session of the Texas Legislature and signed into law by Gov. Perry. The legislation relates to continuing education and/or certification requirements for the sale of annuities, Medicare advantage plans, and certification for agents marketing/selling small employer group health insurance. Click here to view the proposed rules in their entirety.
NAIFA-Texas is advised that the certification/examination and CE requirements will be applicable to individuals who obtain a current resident agent license issued by TDI on or after April 1, 2010, or who renew a resident agent license on or after April 1, 2010.
Licensees may count the hours required for certification and CE toward the completion of the continuing education requirements otherwise prescribed in the Insurance Code for the licensee. Licensees who may qualify for the longevity exemption (20 years or more continuous licensed) are not exempt from the provisions of the proposed rules to market or sell the so-called "complex products" as defined by statute. |
Presidents Confer at Sen. Cornyn Event in Austin
 NAIFA President Tom Currey and AALU President Bob Carter visit at an Austin TX fundraiser on January 8 for U. S. Senator John Cornyn. The joint AALU and NAIFA hosted event raised over $60,000, according to sources. NAIFA-TX members attending the January 8 function included Doug Aycock, Steve Aycock, Ron Mullen, Karen Easterling, Doug Richards, Des Taylor, Currey and Carter.
Senator Cornyn spent over an hour with the group, answering questions about pending matters before the 111th Congress that impact insurance agents and financial adviors. |
Texas IFAPAC = Agents' Career Insurance
2009 was an unprecedented year for legislation impacting insurance agents and financial advisors. And the prospects for 2011 when the 82nd Texas Legislature convenes show no signs of relief. To review the myriad issues we addressed during the 81st Texas Legislature click here.
What is happening this year at the federal level -- efforts to completely overhaul our healthcare system, threats to the tax treatment of life insurance products, and attempts to reform totally and restructure the regulation of the financial services industry -- place us in the perfect storm. At the state level, projected budget deficits and the sunset review of the Texas Department of Insurance mean that, once again, we will need strong grassroots support for our lobbying activities and a powerful political action committee (PAC) to assist us in gaining access to lawmakers/state officials in whose hands the future of our industry rests.
Texas IFAPAC ended the year on a high note, raising $163,639. "Our goal this new year," says PAC Chairman Les Littleton, " is to continue to grow the PAC horizontally, by increasing the number of PAC contributors, and to grow the PAC vertically, by increasing the amount of dollars raised." At year end, Texas IFAPAC had 796 contributors, meaning that well over 2,400 NAIFA-TX members are not contributing to the PAC.
" At this crucial time with healthcare, taxes and regulatory reform on our lawmakers' agendas, Texas agents and financial advisors can help insure that their interests are being represented well in Washington and Austin only if they are involved in the process, step up to the plate and help pull the wagon," adds Littleton.
Link to IFAPAC Enrollment Form |
Hiring Gen Y Makes Dollars and Sense
� Jason Ryan Dorsey, The Gen Y Guy
Why should I hire Gen Y? Employers ask me this question every day. Then they start in with their stories about people my age. One of my recent favorites: "I know all about employing your generation. Last year I hired a young guy right out of college. He had good grades and seemed like a hard worker. A week later I'm in the company bathroom and I hear him talking on his cell phone in a restroom stall. And his phone was on speaker! Even worse, he didn't think he was doing anything wrong. He just kept talking and talking."
Okay, I get it. My peers and I can be a little different when we enter the workplace (which is, on average, about 10 minutes later than you'd like). Sure, we show up to work with our iPod buds dangling out of our purse or backpack, and our ever-present cell phone is ringing loudly during the CEO's Monday morning pep talk. Yes, many of us have a tattoo (or several); some of us sport nontraditional hair colors; and it's not uncommon for us to have a piercing somewhere besides our ear lobes (and, no, it didn't hurt much).
However, in my work consulting and speaking with business leaders around the world, I've seen time and again that Gen Y can deliver tremendous workplace performance and loyalty at a substantial value-when managed correctly. This combination could not have come at a better time, because the current economic climate is forcing companies to do more with less in an increasingly competitive business environment. It's my belief - and I've seen it in action - that Gen Y can be the strategic differentiator you've been looking for to decrease your costs and grow your business.
Here are a few of the strengths that I've seen Gen Y bring to a workplace when managed correctly: Click here to continue reading.
Jason Ryan Dorsey, The Gen Y Guy�, keynote speaker at NAIFA-Texas' July 2009 Annual Meeting, is an acclaimed keynote speaker and bestselling author. His new book is Y-Size Your Business: How Gen Y Employees Can Save You Money and Grow Your Business. This book features more than 50 cost-effective best practices for unlocking Gen Y employee performance while leading all four generations in the workplace. A well-known Gen Y expert, Jason has been featured on 60 Minutes, 20/20, The Today Show, The View, and in Fortune Magazine. For a free chapter from Y-Size Your Business, as well as videos of him speaking to business leaders, please visit www.JasonDorsey.com or www.Ysize.com. � 2009 Jason Ryan Dorsey. All rights strictly reserved. | |
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