Insurance brokers, nervously waiting to see how health reform will affect their compensation, have been told by Maryland’s largest health insurer that small-group commissions will drop by 15%, starting next year.
The chief executive of UnitedHealth Group says he does not think the federal health reform law will force large employers to end their health insurance plans.
The two biggest health insurance companies in Pennsylvania say the new health reform law falls short, while a regional Blues executive predicts the possible demise of small-group insurance in the U.S.
CareFirst has undergone a reorganization designed to allow the insurer’s clients to receive service from “end to end” from people dedicated to specific delivery channels of the overall business.
Health care reform signed into law by President Barack Obama could lead to the demise of small-group insurance market in the U.S., according to the chief executive of one of the nation’s Blue Cross Blue Shield affiliates.
Top executives from several regional health insurance and provider firms will participate in a “CEO Panel Discussion on Market Reform” on March 24 in Columbia, Md.
As agent groups in Maryland await word of who will be their next insurance commissioner, they are hoping Ralph S. Tyler’s successor mirrors his open communication style.
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.