Statement by National Association of Professional Insurance Agents
WASHINGTON — The passage by Congress of another short-term continuing resolution (CR) that includes an extension of the National Flood Insurance Program (NFIP) through February 8 demonstrates the need for Congress to pass a long-term reauthorization of the program. Lapses in the NFIP, even very short ones, have a negative effect on consumers.
The CR also includes a delay of the so-called “Cadillac Tax” on employer-provided health insurance for two years, until 2022. The Cadillac tax would apply a 40 percent excise tax to fully insured and self-funded employer health plans and would be levied on premium amounts higher than estimated thresholds of $10,800 for individual coverage and $29,100 for family coverage. PIA, along with other stakeholders, advocated for the two-year delay and also supports bipartisan legislation to fully repeal the tax.
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA’s web address is www.pianet.com.