House Lawmakers Introduce Bill To Protect Health Insurance Brokers
The Hill: Bipartisan House Duo Looks To Shield Agents, Brokers From Health Care Reform Reg
A bipartisan duo of lawmakers introduced a bill Thursday that would throw a lifeline to insurance agents and brokers who fear the health care reform law will put them out of business. A new medical loss ratio (MLR) rule, which requires insurers to limit administrative costs, classifies agents and brokers as an administrative expense, prompting many in the industry to fear for their future. A bill introduced Thursday by Reps. Mike Rogers (R-Mich.) and John Barrow (D-Ga.) would redefine agents and brokers as part of medical care expenses. The MLR regulation requires insurers to spend at least 80 percent of premium dollars on care or send rebate checks to consumers to make up for the difference (Millman, 3/17).
Earlier, related KHN coverage: Brokers Seek To Preserve Role In Health Insurance Marketplace (Rau and Appleby, 3/16).
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