Group voluntary sales increased by 6.7% last year, off from the 8.5% of 2008, bolstered in part by the increased use of “hybrid” products, according to an Eastbridge report.
More than a third of the new voluntary sales appear to be the result of one carrier taking over another’s plan, according to the U.S. Worksite Sales Report.
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.