Happy Wednesday! In this week's Big I Buzz, we are discussing rising alcohol sales in Wisconsin, the end to the federal health insurance subsidy and new FEMA guidance. 

Report: COVID-19 Pandemic Driving Alcohol Sales in Wisconsin

According to The Associated Press, a new report from the nonpartisan Wisconsin Policy Forum released findings that show revenue from state excise taxes on alcohol during the year that ended June 30 increased almost 17 percent over the $63.3 million they brought in the year prior. The increase will likely be the largest percentage jump since 1972 if the preliminary data holds.

This 17% jump is huge considering between 2009 and 2020, the increase in alcohol tax revenue exceeded only 2.4 percent in one year. Read more here. 

The 6-Month Federal Health Insurance Subsidy for Jobless Americans is Ending. Here's What to Do Next: 

The government's subsidized health insurance coverage for those unemployed during the pandemic through COBRA will end this month. With the end of the Consolidated Omnibus Budget Reconciliation Act, health advocates say it's time for those using COBRA to think about other insurance choices starting in October. 

According to CNBC, "Those who've been relying on the coverage should get a warning from their former employer or insurer that the subsidy period is ending. In that notice, you'll be able to see what your monthly bill will be without the government's help. If you find the new premium unaffordable, which may be the case for some, you'll be entitled to a special 60-day enrollment period on the Affordable Care Act's marketplace. To avoid a gap in coverage, experts recommend you report your upcoming loss of COBRA coverage as soon as possible."

Read more here.

Risk Rating 2.0: FEMA Releases More Guidance Ahead of Implementation

Risk Rating 2.0 is FEMA's new pricing methodology for the National Flood Insurance Program (NFIP) scheduled to be implemented on October 1st. As the implementation nears, FEMA just released the Risk Rating 2.0 edition of the NFIP Flood Insurance Manual to give guidance for administering NFIP policies under the new pricing methodology. According to IA Magazine, "The Big "I" believes that Risk Rating 2.0, if properly implemented, has the potential to improve the NFIP experience for agents and consumers, but emphasizes that the rollout of the program will be critical in determining the success of the effort. As FEMA continues to provide more information regarding Risk Rating 2.0, the Big "I" will continue to provide members with updates." Read more here. 

For more news, check out the Action news section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. We hope that everyone has a great rest of their week!