Following up on an emergency cease and desist order issued last month, Maine regulators are prohibiting a Tennessee company and its operators from continuing activity in the state and have ordered the firm to pay of $1.2 million in civil penalties.
A Maine court has sided with the state’s insurance regulator in her denial of an 18.1% average rate increase for residents enrolled through Anthem Health Plans of Maine.
Calling for industry-wide reform to solve the nation’s health care crisis, Maine’s insurance commissioner said the rising cost of insurance premiums is “slowly killing off the American middle class.”
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.