YEARNAIFA VICTORYHOUSESENATEADMINISTRATION

1913 Exclusion from federal income tax of the life insurance death benefit, dividends and cash value

1945 Passage of the McCarran-Ferguson Act, which preserved state insurance regulation

1974 Creation of IRAs, which in turn led to 401Ks and HSAs

1986 Tax Reform Act — preserved inside build-up of life insurance and annuities

1990 Creation of single premium life insurance distributions

1996 Phased in health insurance deduction for selfemployed and MSAs created

2003HSAs created

2006 COLI best practices adopted, tax-free charges against cash value to pay for LTC premiums, LTC Partnerships and State High Risk Pool Funding

2011 President signs into law a provision to eliminate Free Choice Vouchers, which would have been damaging to employer group health plans, and HHS suspends the CLASS (public LTC) program.

2015 National Association of Registered Agents and Brokers enacted

Diane Boyle is NAIFA’s Senior Vice President of Government Relations. Contact her at dboyle@naifa.org

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A top priority is to get to know and educate new lawmakers as soon as possible.

By Bryce Sanders