A New York-based insurance company, Greater New York Mutual Insurance Co., will pay $45,000 for violating Connecticut state insurance laws, including those regarding rebates and premiums.
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.