Two insurance industry trade groups voices satisfaction with the U.s. Senate’s confirmation of former Kentucky insurance commissioner S. Roy Woodall to the Financial Stability Oversight Council because of his insurance expertise.
With the drive to reform health care stuck in neutral, the U.S. House of Representatives is expected to consider a key element of its legislation later this week: the repeal of an anti-trust exemption for health and medical malpractice insurers.
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.