Industry News

2024 Cap Con Recap

Episode Summary

In the most recent Broker Link podcast, Josh Slattery and Mike Smith join host Gillan to discuss key insights and takeaways from the National Association of Broker Insurance Professionals' (NABIP) annual capital conference. This conference brings together brokers, industry leaders, and policymakers to examine the crucial healthcare issues impacting brokers and shape NABIP's advocacy efforts.

A major theme is NABIP's shift towards a more proactive policy approach. With the healthcare landscape rapidly evolving, the organization recognizes simply reacting is insufficient and being proactive is vital to address emerging issues. Relatedly, the Healthcare Consumer Bill of Rights was discussed as an area of focus, though details remain uncertain.

Significant time was spent discussing NABIP's meetings on Capitol Hill and the priorities promoted there. Reducing employer reporting burdens while maintaining ERISA standards was one key issue, with legislation aimed at this balance. Broker compensation continues to be a major focus in NABIP's advocacy work, particularly on the role of FMOs and maintaining independence amidst regulatory pressure. The Ways and Means Committee meeting provided positive support on this issue.

Within Medicare conversations, a push for distinguishing broker roles from call centers and lead generators in TPMO regulations was emphasized. Given brokers' more holistic support, recognizing their greater value is crucial. Expanding Part D election periods and adjusting DSNP rules were other Medicare focuses.

Broader legislative focuses like site-neutral payments, healthcare price transparency, and telehealth access aimed at reducing costs and improving the consumer experience were also overviewed. Josh and Mike emphasize the importance of brokers engaging with NABIP and becoming more involved in advocacy efforts to shape the policy environment.

In summary, the conference provided an important update on NABIP's proactive shift and key healthcare policy priorities. Broker compensation and independence continue to be a major issue, though support is building. Clarifying broker roles, reducing costs, and improving consumer protections are other areas of focus. As the healthcare landscape rapidly evolves, groups like NABIP provide critical insights and advocacy to represent brokers' interests.


(0:00:00) - Brokerlink podcast features thoughts on the NABIP capital conference
(0:00:32) - Welcome to the broker link, where we empower insurance agents to sell more
(0:01:03) - Compared to last year, NAbIp had a different atmosphere this year
(0:02:51) - Capcon is putting together a Delta task force to focus on consumer issues
(0:08:03) - NABIP says employer ACA reporting requirements are unnecessarily burdensome and confusing
(0:10:58) - This year's Hill hearing focused on broker compensation and compensation to FMOs
(0:18:47) - Site-neutral reform would eliminate disparities in healthcare costs based on location
(0:21:39) - Another thing that addressed the cost of care is transparency. It's crazy to me that, let's say
(0:24:06) - Josh: I think agents are adversely affected by some of the regulatory changes
(0:27:54) - Jonathan Blum said there were record complaints to Medicare this year
(0:30:19) - Do you have final thoughts regarding Cobra as creditable coverage or health savings accounts

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