The NAIC Appeals to the Secretary of the Treasury Over the Covered Agreement

While the U.S. and EU governments are deliberating on whether to accept the negotiated Covered Agreement (Agreement), state insurance regulators in the U.S. are continuing to express concerns about the Agreement. In February 2017, the National Association of Insurance Commissioners (NAIC) testified before Congress against the Agreement. On March 15, 2017, the NAIC continued these efforts by submitting a letter to the U.S. Treasury Secretary Steven Mnuchin detailing the NAIC’s concerns. One of the NAIC’s central concerns centers on the “significant confusion among current and …

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President Obama’s ACA Extension – NAIC Response

With the January 2014 effective date under the Affordable Care Act’s (ACA) essential benefits and guaranteed coverage provisions quickly approaching, several million people have received a cancellation notice. Facing wild criticism, President Obama responded with a regulatory fix that will allow Americans to keep ACA non-compliant insurance policies, albeit temporarily.

The extension gives American consumers the option to renew their current non-conforming plans for one year. This extension mostly affects those plans not grandfathered in under the ACA, including those newer policies that were purchased …

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