A group of six health insurers said it is not giving up its fight against Massachusetts insurance regulators, despite a court’s decision to deny them from putting proposed rate increases … Read →
Nearly a week after Massachusetts regulators disapproved 235 of 274 rate increases filed by health insurers citing the rising cost of care, a group of six companies is suing the state for a move it says will “likely cause greater costs and confusion.”
Massachusetts’ governor defended his insurance department for disapproving 235 of 274 rate increases filed by health insurers for small business plans, noting that owners and working families are “drowning in double-digit premium increases.”
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.