With two of the state’s dominant health insurers seeking double-digit rate increases, Rhode Island’s attorney general is urging insurance regulators to hold a public hearing on the matter.
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.