Only 7% of health insurance agents support the Patient Protection and Affordable Care Act (PPACA) in its current form – but 45% say they might support it if it were in a different form.
Agent’s Sales Journal has reported those figures in its June issue, in the 2011 Health Insurance Market Study.
Agent’s Sales Journal is published by Summit Business Media, Erlanger, Ky., the parent of National Underwriter Life & Health and the NU Online News Service.
Agent’s Sales Journal conducted the 2011 health insurance market survey together with the National Association of Health Underwriters, Arlington, Va., and Agent Media, a Summit Business Media database and marketing solutions unit.
Researchers asked a sample of professionals drawn from Agent Media’s database of 1.8 million licensed life, health and annuity agents about their opinions about PPACA.
Although a total of 52% of the participating agents say they oppose PPACA altogether or oppose it in its current form, only 28% say they believe no health insurance market reforms are needed.
Most agents say they are facing big drops in commissions, and they say the drops are due in large part to the new PPACA minimum medical loss ratio requirements now being imposed on health insurers.
Half of the agents say 70% or more of the individual major medical carriers they work with are cutting commissions, and 60% say typical individual major medical commissions have decreased by more than 10%.
About 30% say their sales of individual health insurance have decreased somewhat or substantially in the past 12 months. Fewer than one-third have seen an increase in individual health sales.