Morning Briefing
Summaries of health policy coverage from major news organizations
'Mother Of COBRA' Helps Push Administration's Financial-Advice Rule
The champion behind an anticipated proposal roiling the retirement-advice industry is a civil servant most Washington outsiders have never heard of. Phyllis Borzi, a 69-year-old assistant labor secretary, is an unlikely advocate for the rule, given the Labor Department doesn鈥檛 typically get involved with investment advice. ... She became a congressional staffer in 1979, working on employee benefits. Later, she drafted a large section of the Consolidated Omnibus Budget Reconciliation Act, a 1985 law that guarantees health benefits at some cost to workers after leaving a job. The work earned her the nickname among Labor Department staff as 鈥渢he mother of COBRA.鈥� She has said her work in Congress introduced her to many female constituents who were ill-prepared for retirement despite working hard for many years, leading her to conclude the system was flawed. (Hayashi, 4/5)