When the PPACA was first announced, the state health insurance exchanges created a slight panic to some agents. The calls came into our office, emails flooded our inbox, all with five little words; “What will my role be?”
We quickly worked to find the answer. Editor Christina Pellett asked Jessica Waltman, senior vice president of government affairs at the National Association of Health Underwriters, specifically about how the PPACA will affect health insurance agents. Waltman assured readers not to throw in the towel, that everything would be fine, and that agents would still have a role in the new exchanges.
However, a recent statement from the National Association of Insurance Commissioners (NAIC) implies that agents do have a reason to worry. Timothy Jost and Stephen Finan represent consumers in NAIC proceedings. They say that the cost of exchanges may amount to 3 percent or 4 percent of total coverage costs.