President Barack Obama minced no words in his weekly radio and Internet address Oct. 17, saying the Congress’ review of the anti-trust exemption granted to insurance companies is appropriate because they are standing in the way of health care reform.
Two of members of the Obama Administration would not rule out the possibility of a tax on health benefits to pay for a system-wide overhaul in TV interviews.
Health Secretary Kathleen Sebelius said the president doesn’t want health care reform to kill off the private health insurance system, but rather buoy it with more competition.
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.