President Barack Obama, marking the 90th day since passage of federal health reform legislation, met with chief executives from more than a dozen insurance companies, warning them against raising rates in response to new requirements placed on them.
Membership in the nation’s top health insurance plans fell by 1.3% in the third quarter of 2009, as the recession and high unemployment rates battered enrollments, according to a new 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.