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November 23, 2011 at 06:57 AM
Insurance agent trade groups today lauded the National Association of Insurance Commissioners for supporting them in their quest for relief from a provision in the healthcare reform law that has seen their healthcare insurance commissions drop precipitously. Last night, the NAIC passed a resolution to request the Department of Health and Human Services to exempt agents’ commissions from medical loss ratio calculations, a requirement put into law by the Patient Protection and Affordable Care Act. The MLR provision has met with staunch resistance from the agency community.
Those commenting included officials of the National Association of Insurance and Financial Advisors, the National Association of Health Underwriters, and the Independent Insurance and Brokers of America, all based in Washington, D.C.
The resolution asks Congress and the Department of Health and Human Services to act promptly in providing an exemption for agent commissions from the medical loss ratio provision of the Patient Protection and Affordable Care Act.
Robert Miller, president of the National Association of Insurance Financial Advisors said state insurance commissioners “took a big step in an effort to undo some of the damage done by last year’s national health care reform law.”
He said the NAIC resolution acknowledges that the Medical Loss Ratio provision of the health care law has destabilized insurance markets and harmed consumers by hampering the ability of agents to act on their behalf.
“It’s now up to our leaders in Washington, either in the administration or Congress, to finally resolve the MLR problem,” he said.
