DSC_0289The Medical Loss Ratio “is overly restrictive, inhibits the market and has a direct impact on what (NAIFA members) do,” Rep. Charles Boustany, Jr., MD (R-LA) told NAIFA members today during the National IFAPAC and APIC Training Meeting in Washington.
Boustany, who holds a seat on the House Ways and Means Committee, supports legislation to exclude agent commissions from the MLR calculation, a major priority NAIFA members are taking to Capitol Hill during the winter “Day on the Hill event.” A heart surgeon of 20 years, Boustany addressed 150 NAIFA members before their meetings with legislators and staff today. Among the issues he addressed:
Tax reform: “We want to do a fundamental rewrite of the tax code, and when we do that, I will take my own (favorable) experience with life insurance and bring some reality to the Halls of Congress. … As we look at tax reform we have to get rid of uncertainty that’s afflicting our economy. A business cannot plan with uncertainty.”
Repeal of the CLASS Act: “CLASS is a program that is unsustainable. But most people don’t know they need long term care. Using tax-free savings to take care of health needs is a very important component.” (Boustany supports the idea of long-term care insurance being included in employer-sponsored cafeteria plans and flexible spending arrangements so premiums could be paid for using pre-tax dollars).
On the role of the agent: "You can help us educate the American public on these (healthcare issues.) We’ll need your help as we craft legislation to fix them."