NAIFA national Trustee Dennis Cuccinelli, a member of NAIFA-New Jersey, warns that the state's proposed reclassification of insurance agents as employees instead of independent contractors would limit agents' independence, reduce consumer choice and potentially harm families' access to financial protection. As independent contractors, agents operate autonomously and represent multiple insurers, allowing for customized solutions tailored to each family's needs. The proposed shift to employee status would significantly limit this autonomy, Cuccinelli argues, potentially restricting agents' ability to act in their clients' best interests.

Changing the mindset around long-term care is key for successful planning, writes Les Robinson of Cadaret Grant, who offers 12 steps to help shift negative attitudes into positive behaviors. "By shifting the perspective on care events from negative to positive events for family members, advisors can help clients keep more money, reduce stress and make better decisions," Grant writes.

Costs for end-of-life and major medical care can often be unexpected and overwhelming, leading to what Evan Cooper refers to as the "care bomb." Cooper writes about his personal experience with his mother and mother-in-law, noting that advisors should broaden the retirement planning conversation to include realistic discussions about aging, caregiving and the unpredictable costs that can derail even well-structured plans.

The Senate tax and spending bill passed a procedural hurdle in a 51-49 vote over the weekend, and the chamber could start a "vote-a-rama" on amendments to the package Monday morning. President Donald Trump has indicated that he wants the bill on his desk by July 4.

The US Supreme Court issued a 6-3 decision in favor of the Affordable Care Act's provision mandating that insurers cover preventive services such as the HIV prevention drug PrEP. The majority said the appointment of the US Preventive Services Task Force by the health and human services secretary is constitutional.

Financial advisors can add value for business owner clients by acting as a "risk management quarterback," writes Jose Perez of Nationwide Corporate Solutions. Perez suggests scenario planning for economic volatility, talent and workforce planning, staying abreast of regulatory and policy changes, and enhancing cybersecurity and operational risk management.