REGULATORS ADOPT RESOLUTION TO PRESERVE CRITICAL ROLE
OF HEALTH INSURANCE PRODUCERS
WASHINGTON, D.C. (Aug. 26, 2010) — The National
Association of Insurance Commissioners (NAIC) adopted a resolution
to protect the ability of licensed insurance professionals to
continue to serve the public. The resolution affirms 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.
“State insurance regulators recognize the important service that
agents provide to all consumers as they make critical health care
decisions for their families,” said Jane L. Cline, NAIC President
and West Virginia Insurance Commissioner. “Significant changes for
health plans under the PPACA precipitate the need for clarity and
guidance by licensed, specially trained insurance professionals. The
continuing role of producers in the health insurance transaction is
an essential part of protecting consumers during this
Licensed insurance agents assist consumers in numerous financial
planning decisions, including benefit and contribution arrangements
to ensure compliance with applicable state and federal
laws/regulations; assisting with establishing Section 125 plans,
HRA, FSA and other programs to maximize tax advantages; and ensuring
compliance with applicable IRS guidelines.
Producers are required to complete continuing education in order
to maintain appropriate licenses, which helps ensure that agents
remain current in the evolving insurance marketplace.
resolution was sponsored by Illinois, Maine, Florida, Kansas,
Oklahoma, Louisiana, Alaska, New Hampshire, Utah, South Carolina,
North Carolina, Nevada, Montana, Ohio, New Jersey, Kentucky,
Missouri, Michigan, Connecticut, Tennessee, Washington, Delaware,
California, New York and North Dakota.
to view the resolution.
About the NAIC
Formed in 1871, the National Association of Insurance
Commissioners (NAIC) is a voluntary organization of the chief
insurance regulatory officials of the 50 states, the District of
Columbia and five U.S. territories. The NAIC has three offices:
Executive Office, Washington, D.C.; Central Office, Kansas City,
Mo.; and Securities Valuation Office, New York City. The NAIC serves
the needs of consumers and the industry, with an overriding
objective of supporting state insurance regulators as they protect
consumers and maintain the financial stability of the insurance
marketplace. For more information, visit www.naic.org.
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