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The National Association of Health Underwriters commends the June 30 decision of a National Association of Insurance Commissioners broker task force to endorse a bill in Congress that would provide state insurance regulators more freedom when it comes to the medical loss ratio implementation.
The bill, H.R. 1206, introduced in the House by Reps. Mike Rogers (R-Mich.) and John Barrow (D-Ga.), aims to remove brokers from the MLR calculation.
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The bill clarifies that agent compensation is not an insurance company administrative expense, which could relieve financial strains on small and independent firms.
The bill clarifies that agent compensation is not an insurance company administrative expense, which could relieve financial strains on small and independent firms.
The decrease in compensation is negligible since the medical loss ratio took effect, study finds, but other industry organizations disagree.
Kicking off the National Association for Health Underwriters annual meeting Monday, the groups lead lobbyist outlined the current status of benefit brokers in the eyes of Washington, while a Republican politician discussed potential outcomes of the 2014 election.
The U.S. House of Representatives voted today on key legislation for brokers to practice in multiple states. Find out more and its status in the U.S. Senate.