The Guardian Life Insurance Co. of America was ordered to pay $62,000 in fines after a market conduct examination in Virginia found violations, including improper handling of claims.
Optima Health Plan paid a $24,000 fine to Virginia insurance regulators after being found in a market conduct examination to have violated a number of state laws.
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.