Joe Buick

Flood Insurance Reform and Affordable Care Act: The two share many similarities.

The national press has provided updates for the past several years on healthcare reform (Obamacare), but many insurance consumers are simply unaware of the National Flood Insurance Program and its many changes related to reform.

Consider the parallels.

  • Both Reform Measures were implemented several years ago, with the full repercussions yet to be felt.  (Biggert-Waters for Flood Insurance & Affordable Care Act for Health Insurance).
  • Both are enormous programs provided/regulated by the federal government
  • Both have been tweaked multiple times. The ACA via Executive Order and the Flood Reform through the Homeowner Flood Insurance Affordability Act (2014)
  • The Government Accountability Office (GAO) has reported (2013) that both sets of reforms will cost much more than previously reported. (for ACA: Senate Budget Committee reports, confirmed by GOA that the plan will increase governments “primary deficit” by .7% of GDP over 75 years or $6.2 Trillion. For Flood Insurance government programs, it was reported by GOA that as of Dec 2013 the NFIP owed the federal government $24 Billion).
  • Both sets of reforms are incredibly complex. For ACA, thousands of agents, attorneys, consultants and others have been trying to educate consumers of the 11,000 page law around the clock since the law was originally signed into law in 2010. It has literally created a new career for many folks inside and outside of the government.  For the Flood Law, as recently as February of this year you can find “talking points” on the FEMA website to help municipal leaders, agents, and lenders walk through the immense changes both from the original law and the 2014 “fix”. These talking points include definitions of the newly formed SFHAs (special flood hazard areas) and the also new PRP (preferred risk policy). Webinars, White Papers and classes are available for anybody who wants to become an expert. Both laws undoubtedly will change again and again before long.

The two links below are official government websites to help consumers of both forms of insurance further research the ongoing changes. Please contact your agent should you have specific questions that pertain to your healthcare or flood insurance needs.


Has you’re a agent discussed Flood Insurance or Healthcare reform with you?

Joe Buick|vice president

Kapnick Insurance Group|Strength. Knowledge. Direction.

333 Industrial Dr. | Adrian, MI  49221 |

D 517.266.6574 | F 517.263.6658 | P 888.263.4656 x1170


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