A former agent of the Government Employees Insurance Co. (GEICO) had her insurance license revoked for providing inaccurate information on her insurance application to obtain more favorable rates, according to the Maryland Insurance Administration.
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.