Membership in the nation’s top health insurance plans fell by 1.3% in the third quarter of 2009, as the recession and high unemployment rates battered enrollments, according to a new report.
The nation’s eight largest health insurance companies collectively lost 836,000 members in the first six months of the year, as commercial enrollment sagged.
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.