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February 21, 2014 at 11:28 AM
After ominous reports of negative effects of the Patient Protection and Affordable Care Act, brokers in the trenches are speaking up: The law is hurting — or at least will hurt — their business.
A new LIMRA survey of 228 employee benefits advisors finds 72 percent predict that health care reform will have a negative impact on sales of group medical insurance, and about half say fewer employers will offer health insurance benefits in the future because of PPACA.
Though the survey findings is “not surprising,” as LIMRA points out, the predictions correlate with continuous reports of frustration with the law in the industry.
Related story: Are brokers really leaving the industry in droves?
LIMRA found that advisors who represent small employers (fewer than 50 employees) are far more concerned by the impact of PPACA (with 77 percent saying it will have a negative impact) than advisors who represent larger employers (50 or more employees), 62 percent of whom felt PPACA would have a negative impact on group benefits.
