Six health insurance companies have agreed to end the secrecy over their requests for rate increases, according to Benjamin M. Lawsky, superintendent of New York’s new Department of Financial Services.
WellPoint, the nation’s largest health insurer by medical membership, plans to unilaterally implement key provisions of the Breast Cancer Patient Protection Act introduced in Congress.
California’s insurance commissioner and the Obama Administration are seeking answers as to why Anthem Blue Cross wants to raise its health insurance premiums by as much as 39% for some state residents.
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.