Still questioning the need for a federal regulator of insurance amid strong state-based oversight, the National Association of Insurance Commissioners is praising lawmakers for amendments to a bill establishing a Federal Insurance Office.
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.