Plexus Chief Executive Officer Walter R. Fawcett III and Partner Mitchell Andrews visited Capitol Hill this week to meet with congressional staffers regarding the tax treatment of employer-sponsored health insurance. Fawcett and Andrews met with representatives for Sen. Dick Durbin (D-Ill.), Sen. Tammy Duckworth (D.-Ill.) and Rep. Peter Roskam (R.-Ill.) as part of the Council of Insurance Agents and Brokers' Legislative Summit in Washington D.C.
The CIAB is the preeminent advocacy firm for insurance agencies and brokerages. Fawcett sits on the CIAB's Board of Directors, while Andrews is a member of the CIAB's Council of Employee Benefits Executives (CEBE).
"We are appreciative to have met with the offices of Sens. Durbin and Duckworth and Rep. Roskam," Andrews said. "It is important that our industry have an open line of communication with legislators on the many insurance-related issues that can affect us all, such as standardized cybersecurity laws, re-authorizing the Federal Flood program, and options to responsibly repair/replace the Affordable Care Act."
Nearly 180 million American workers receive health insurance through employer-sponsored plans, and the benefit is not considered taxable income. The CIAB is lobbying Congress to keep the current tax treatment of benefits as is.
"It would be a cruel hoax on the American public if replacement of the Affordable Care Act is a measure that now taxes their health benefits," the CIAB said. "We need to stabilize the individual marketplace and not destabilize the employer-sponsored system that covers more than half of all Americans."
The Plexus Groupe (Plexus) is an insurance brokerage and risk management consulting firm with expertise in employee benefits, property and casualty, retirement plans, human resources administration and consulting, technology, personal lines and mergers & acquisitions.
In each of the last seven years, Plexus has garnered Best Places to Work in Insurance honors from Business Insurance magazine. Also, The Plexus Groupe was named a Best Practices Agency for 2016 by Reagan Consulting and the Independent Insurance Agents and Brokers of America, Inc. Headquartered in Deer Park, Ill., Plexus also has offices in Chicago (Loop), Dallas and Oklahoma City.
For more on how Plexus’s experts can help protect your business’s interests, contact a client executive at 847-307-6100 or via the Web.