The National Association of Insurance Commissioners announced last week it has established a new task force to examine and address potential adverse impacts on the role of health insurance agents and brokers that stem from new health reform laws.
NAIC Vice President and Florida Insurance Commissioner Kevin M. McCarty will lead the task force, which will report to the NAIC Executive Committee.
The task force plans to hold its initial meeting via conference call in mid-December.
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"With the recent issuance by HHS of the medical loss ratio regulations to be imposed on insurers, there is a very real possibility the role of health insurance agents will be impacted in a negative way," said McCarty in a statement. "Health insurance is a complex product and experienced and licensed agents are a valuable resource for consumers. We intend to work with the agent community and our colleagues at HHS to maintain that resource."
Following the release of medical loss ratio final interim regulations on Nov. 22, several agent groups released statements, voicing their disappointment over the federal agency's decision not to exclude producer commissions and fees from MLR calculation, and that this could potentially result in disruption for individual and small-group health insurance markets. [See related, from NU Life & Health: "PPACA: Producers Seeking Sponsors for MLR Bill"]
The NAIC says the formation of this task force follows the adoption earlier this year of an NAIC resolution to protect the ability of licensed insurance professionals to continue to serve the public. The resolution affirmed the important role of health care insurance agents in providing services to consumers and businesses as standards for implementing the Patient Protection and Affordable Care Act (PPACA) are developed.
"This is an extremely important issue for the NAIC," said NAIC President and West Virginia Insurance Commissioner Jane L. Cline. "State insurance regulators recognize the important role of licensed health insurance professionals in serving the needs of individual consumers as well as the business community. We must look at ways to protect their ability to continue serving the public as the new federal law is implemented."
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