Arkansas’ insurance commissioner says a claim by a company saying it is offering innovative and affordable health insurance solutions “could not be further from the truth.”
Disciplinary actions taken by New York regulators caused a ratings service to downgrade the financial strength and issuer credit ratings for American Medical and Life Insurance Co.
New York officials are examining the marketing practices of companies selling limited benefit health insurance plans in the state, after fining one company $700,000 for violations of state insurance law.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.