A trade group representing 1,800 independent insurance agencies in New York said it worries about how the state’s proposed broker disclosure rule might apply to out-of-state insurance agents.
Health insurance costs for small businesses are driven up in part by high broker fees and health plan administrative costs, according to a new government report.
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.