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About a month ago from ISAHU's Twitter via CoSchedule

New legislation in the COVID relief bill impacts agent and broker compensation disclosure

The Consolidated Appropriations Act, 2021 (CAA 2021) package includes a sweeping health insurance agent and broker compensation disclosure provision.

Congress broke the CAA 2021 package into parts when voting on it. President Trump signed the bill.

Members of the House voted 359-53 for the section containing the health insurance producer compensation disclosure section.

Members of the Senate approved the section by a 92-6 vote.

The new bill can be read in its entirety here.

What we know about the COVID relief bill

Here’s how NAHU worked to change and impact the bill

NAHU VP of Congressional Affairs, John Greene, wrote to ISAHU leaders yesterday with some details on how the bill was handled to try and soften the langauge. He writes, in part:

“Specifically, we tried to eliminate the individual and small group plans from reporting. Individual markets have little or no commission anyway, and small group commissions are baked in and have little variation between carriers.

We brought in Tennessee agents to make a case to explain how it works in the real world. We did win some concessions around large group reporting when potential bonuses are not known upfront. …

Our next opportunity will be when it goes to rule-making. We will stress not adding additional burdens, lest it disincentivizes agents from participating in the market.”

Questions? Help us build an FAQ

Direct your questions to Susan Rider, ISAHU Legislative Chair. We’ll compile a list of questions and answers and help members as we learn more about this bill.

Not a member? Your membership helps us speak with one, strong voice in Washington. Join now.

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Indiana State Association of Health Underwriters

Indiana State Association of Health Underwriters