A niche insurance company based in Elizabethtown, Pa. had its ratings outlook reduced to “negative” after a ratings service expressed concerns about its limited profitability over the last few years amid an increasingly competitive market.
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.