Regulators in South Carolina have issued an emergency cease and desist order against two state residents and several individuals and companies, in what they are calling a “nationwide, multimillion dollar health insurance fraud scheme.”
Kansas has become the fourth state this year, and the latest state over the last couple of years, to order several Tennessee-based companies to stop selling its products to residents.
Insurance regulators in both Oklahoma and Washington state have issued sanctions against companies they say are illegally selling health coverage in their states.
The Ohio Department of Insurance is warning residents about a health insurance company and its owner, who had his insurance license revoked in New Jersey recently.
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.