A bill that would raise the tax credit for those purchasing long-term care insurance from 15% to 30% was dismissed in about 90 seconds by the Virginia Senate Finance Committee.
The chairman of the Republican Party of Virginia applauded the members of his party – and five Democrats – in the state Senate who voted to advance bills rejecting what he calls the “health care nightmare” currently in negotiations in Washington, D.C.
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.