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PIA Western Alliance
Just before Thanksgiving a federal judge blocked President Obama's executive order on new overtime rules. If enacted — or when — the president's action raises the exempt threshold for salaried executive, administrative, professional, outside sales and computer employees that are currently exempt from overtime.
The regs were blocked by U.S. District Judge Amos L. Mazzant III in Texas. In his ruling the judge said, "If Congress intended the salary requirement to supplant the duties test, then Congress and not the department, should make that change."
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PIA Western Alliance
Fitch Ratings says the Trump administration will help ease some insurance regulatory burdens. However, maybe not right off the bat and not directly. The not directly is because states — as you know — primarily regulate insurance. The ratings firm said the president elect has promised deregulation and more help for business in that direction. A Republican Congress agrees. Fitch says this is where insurance will see the most help.
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PIA Western Alliance
Six-term Congressman and chairman of the House Budget Committee Tom Price of Georgia has been tabbed to run the Department of Health and Human Services (HHS). Price — who is an orthopedic surgeon — contends ObamaCare interferes with the ability of doctors and patients to make medical decisions.
"Premiums have gone up, not down. Many Americans lost the health coverage they were told time and time again by the president that they could keep. Choices are fewer," Price said recently.
The nod is just that a nomination. Price must be approved by the Senate.
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PIA Western Alliance
For Oregon companies with $25 million in income — and that's not profit but income — the defeated Measure 97 would have imposed a 2.5% tax on those dollars. Oregonians agreed wholeheartedly — 59% to 40% — the measure was a sales tax on business and not a good idea. Most Oregon voters knew it would ripple through the economy and end up as a 10% tax on most products for consumers.
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PIA Western Alliance
Websites for companies everywhere are pushing holiday sales and trying to drive business to stores or toward online purchases. While insurance isn't exactly a high purchase priority this time of year, there are things insurance agencies can do on websites that could drive business in the future.
Or so says Karly Baker who is the Website Coordinator at Insurance Technologies Corporation (ITC).
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PIA Western Alliance
Will Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia allow Anthem's $48 billion purchase of Cigna to go forward? The Justice Department and 11 states — including the PIA Western Alliance state of California — filed suit to stop things and say reducing national carriers from five to three violates antitrust laws and isn't good for consumers.
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PIA Western Alliance
President elect Donald Trump has talked a lot about lowering taxes. And for years so has the Republican leadership. Now with a Republican soon to be president and the party controlling both houses of Congress, tax reform is likely to happen.
But what will that reform look like?
Senate Majority Leader Mitch McConnell wants to lower the corporate tax rate and the individual tax rate simultaneously. He and his allies in the cause say a lot of small businesses file taxes as individuals and we need to be careful not to leave them out.
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PIA Western Alliance
The holidays are a cyber hacker paradise. Companies are focused on sales and customers and not what's happening behind the scenes on websites. While the holidays are special and quite fertile, that is also true — says a Ponemon Institute study — year around. The study for the Cyber Resilient Organization done by Ponemon for the IBM company Resilient said 66% of the 2,400 IT and security pros they talked to note their organizations are not prepared for a cyber attack and will have difficulty recovering from one.
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PIA Western Alliance
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