A new rating method set to take effect Jan. 1, 2014 will likely result in rate increases of 40-100% for certain employers in Texas. New federal insurance reforms require "Small Employer Group" to be defined as employer groups having 1-100 employees, instead of Texas' current definition of 2-50 employees. "Modified Community Rating" requirements that apply to this group have been shown to result in significant rate increases.
State lawmakers with an interest in insurance say they want to keep the Patient Protection and Affordable Care Act (PPACA) from casting health insurance customers adrift. Members of the National Conference of Insurance Legislators (NCOIL) adopted two resolutions related to PPACA at their recent spring meeting in Washington.
Bipartisan legislation to introduce National Association of Registered Agents & Brokers Act of 2013 (NARAB II), which would streamline the insurance agent licensing process, has been introduced in both the House and the Senate with a Senate Hearing scheduled for next week, a watershed legislative event for the insurance agent industry.
The former head of the agency overseeing implementation of the health care reform law disagreed with state officials Friday over the need for insurance agents to be involved in the purchase of health insurance once the exchange system kicks in come January.