Bankers Life experienced a 26% increase in its pre-tax operating earnings, which, along with a boost in life and Medicare supplement sales, led its parent, Conseco, to report $15.4 million in net income in the quarter.
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.