Like many states, Maryland faces a multi-billion dollar budget shortfall for the current fiscal year, but legislators don’t appear to be closing that gap in the same manner as their counterparts in Connecticut.
As part of a new two-year, $37.6 billion budget, Connecticut has doubled the majority of its fees levied by the department of insurance, a move other states might emulate given widespread deficits in their coffers.
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.