On January 14th, Missouri Governor Jay Nixon will be sworn in for his second term, and we are wondering whether the Governor’s plans for 2015 are influencing the direction of Missouri’s preneed reform. With commentary such as that published by the St. Louis Post Dispatch, the Governor may have his eyes on a 2015
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The NPS Recovery Plan: Grounded!
By Bill Stalter on
Posted in Legislation, NPS/Lincoln
In our prior post, we commented on the lack of detail provided by the Consumer Funeral Assurance group regarding their NPS recovery plan. We have obtained a copy of the plan, and redacted from the document correspondence that reflect names and/or contact information of recipient organizations or legislators. What is left includes a summary …
A Stitch in Time Saves Nine: the statement of goods and services
By Bill Stalter on
When funeral arrangements are made subsequent to the death of a family member, the meeting with a funeral director can be very emotional. Addressing the paperwork required by law often adds to the stress of the arrangement meeting. Sensitive to the individual needs of the family, funeral directors attempt to balance legal requirements with the…
Missouri Cemetery Preneed Law: zero to eighty while blindfolded
By Bill Stalter on
The fear of SB1 drove the Missouri cemetery industry to push for Chapter 214 legislation in 2009, only to have the wheels come off at the stroke of midnight last May. While legislation was passed, the original bill was gutted, and the resulting changes were incoherent and confusing. It was no surprise that the industry…
Texas Preneed Reform
By Bill Stalter on
In terms of the toxic NPS fallout, Texas ranks a close second to Missouri. In response, the Texas Department of Banking has released a legislative proposal aimed at closing what it perceives are the loopholes in Chapter 154 of the Texas Finance Code.
To facilitate discussion of the issues with death care operators, insurance companies and fiduciaries…
Missouri Preneed Reform: Act 2
By Bill Stalter on
As news of the NPS meltdown began to leak last month, several proposals to reform Missouri’s preneed law were hastily drafted. Not knowing the extent of NPS’ problems, some reform advocates felt the need to strike while the iron was hot.
Even as the legislative session ended on May 16th, it was not clear whether…
Big dreams buried by big questions: NPS
By Bill Stalter on
Yesterday, the St. Louis Post-Dispatch ran an article that examined the history of NPS, and raised some of the questions that need to be explored in depth in the months to come. The system failed in several states, for both consumers and funeral homes. While most funeral homes will try to make good on the…
Your Preneed Forecast: Exams, followed by Audits
By Bill Stalter on
The Missouri preneed industry faces a long and stormy summer.
The Missouri legislature seems to be listening to regulators’ requests for much needed authorities for examinations, audits and rulemaking. A draft bill providing emergency powers to the Division of Professional Registration has emerged as legislation that may be signed into law before the current session ends…
NPS: Show me the money!
By Bill Stalter on
Posted in NPS/Lincoln, Preneed
On Wednesday, April 30th, the Missouri Department of Insurance fired off the first salvo in the legal proceedings to recover funds from Lincoln Memorial Life Insurance Company. In an effort to prepare those affected by the NPS meltdown, the Missouri State Board of Embalmers and Funeral Directors and the Division of Professional Registration have…
Missouri Preneed Reform: Show Me
By Bill Stalter on
With two reform bills (HB 2469 and HB 2594) already introduced into the legislature, and two substitute proposals in the works, Missouri legislators and regulators are committed to fixing a law that allowed NPS to exploit consumers and funeral homes. However, consumers and the death care industry are both having difficulty analyzing the specifics of…