You are here:HomeNews CenterNews About PIA20162016 Starts Following Legislative Wins in 2015

2016 Starts Following Legislative Wins in 2015

PIA’s 2016 advocacy efforts begin following a string of successes in 2015. On December 18, the Policyholder Protection Act was enacted when it was...
January 13, 2016

PIA’s 2016 advocacy efforts begin following a string of successes in 2015. On December 18, the Policyholder Protection Act was enacted when it was included in the omnibus appropriations agreement that was passed 316-113 in the House and 65-33 in the Senate. The Policyholder Protection Act prohibits federal regulators from using assets designated to pay out insurance claims to “prop up” an affiliated bank.

In addition to the Policyholder Protection Act, lawmakers included a two-year delay in the onerous 40% excise tax on so-called ‘overly generous’ health plans [the “Cadillac Tax”] in the omnibus. Previously, lawmakers passed into law the Protecting Affordable Coverage for Employees (PACE) Act to allow small and mid-sized businesses to continue to provide affordable healthcare coverage to their employees. Lawmakers also voted overwhelmingly to reverse a planned $3 billion cut to crop insurance, after a nationwide grassroots campaign.

“Despite the fact that there is still significant disagreement on many major issues, insurance appears to have broken free of Capitol Hill gridlock,” observed PIA National Executive Vice President & CEO Mike Becker.

PIA 2015 Year in Review (PIA Connection)

Filed under: