NEW NAIC TASK FORCE TO EXAMINE, ADDRESS HEALTH REFORM'S
IMPACT ON AGENTS
WASHINGTON, D.C. (Nov. 24, 2010) — The National
Association of Insurance Commissioners (NAIC) established a new task
force to address potential adverse impacts on the role of licensed
health insurance agents and brokers resulting from the new federal
health care reform law. Chaired by NAIC Vice President and Florida
Insurance Commissioner Kevin M. McCarty, the task force will report
to the NAIC Executive Committee.
"With the recent issuance by HHS of the medical loss ratio (MLR)
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. "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."
Licensed insurance agents assist consumers facing the many
financial decisions related to health insurance coverage. Agents are
required to meet standards of continuing education in order to
maintain appropriate licenses, ensuring that they remain current in
the evolving insurance marketplace. They play an essential role —
guiding consumers through the sometimes confusing changes brought by
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."
The new task force plans to hold its initial meeting via
conference call in mid-December.
Click HERE to view the resolution to
protect the ability of licensed insurance professionals to continue
to serve the public.
Click HERE for NAIC Conference Call