Thomas Currey, president of the National Association of Insurance and Financial Advisors (NAIFA), warns life insurance agents and financial service professionals that proposed legislation could change how they do business.
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.