It’s not often that the self-insurance/ART industry successfully pushes back against the National Association of Insurance Commissioners (NAIC) on an important legislative/regulatory matter, but I am pleased to report one initial small victory.For the past few years, I have been involved in lobbying for federal legislation that would modernize the Liability Risk Retention Act (LRRA). This legislative initiative has included three...
A Fresh Look at Mandating Health Insurance Coverage
Requiring individuals to maintain health insurance coverage is a good idea. There, I said it despite my libertarian leanings.Yes, an individual mandate may be unconstitutional. And the prospect for more government control is not appealing but there is a strong case to be made that this is perhaps the one redeemable provision (in concept) within the 3,000-page health care law.The obvious advantage is that by creating a health care...
Show Me The Money -- Politics and the Self-Insurance/ART Industry
The self-insurance/alternative industry is a major force in the U.S. economy, but it is largely invisible to most members of Congress. It is similarly cloaked at the state level.So why the disconnect? Follow the money trail, or should I say the absence of such a trail.While it’s rare these days that political contributions can explicitly “buy votes,” the reality is that financial support normally does get you access to politicians,...
ADA 2.0 Packs a Sharper Edge for Workers' Comp. Self-Insurers
The landmark Americans with Disabilities Act (ADA) of 1990 substantively changed workplace rules in ways that required employers to adapt a variety of hiring and return-to-work practices in order to maintain compliance.Now 20 years later, the ADA has been amended and the implications for workers’ compensation self-insurers are significant. At issue is that ADA 2.0 will impose several new restrictions on how return-to-work programs...
How to Reamortize Your Mortgage
by Richard F. O’Boyle, LUTCF, MBAMany people refinance their mortgage in the hopes of lowering their monthly payments, but there’s a little-known trick that can lower your monthly mortgage bill without a costly and hassle-prone re-fi. The last thing the banks want you to do is shorten your loan, reduce your interest rate, or lower the lifetime interest paid: that’s why they push refinancing. They want to sell you a new mortgage...
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