We already have a pretty good idea about how brokers and agents are feeling about the medical loss ratio provision of PPACA. In two words: not happy.

The provision, designed to make sure the bulk of consumers' premium dollars will go toward medical care, has swiftly slashed brokers' and agents' commissions, as carriers adjust overhead to make room for higher claims payouts.

According to a recent poll by the National Association of Insurance and Financial Advisors, 53 percent say they have seen a 25 percent or more decrease in commissions, including 17 percent who report a 50 percent or more decrease. Yikes.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.