Some good news.......... Looks like agents will be part of the FFE's, and will be paid....by the insurers on a level playing field. Two good things: 1. insurers are already able to pay us commissions and still meet the MLR
. 2. We'll get paid on a timely basis vs. something like PCIP that took 3 months or more. Plus, if Chumps can keep people from entering the market, there will be a less number of brokers on the website listed.
One provision would let the SHOP small business exchanges put insurance agent and broker information on their websites, and another provision would require carriers
selling coverage through a federal individual or SHOP exchange offer similar producer compensation in the exchange and non-exchange markets
CMS has posted a preliminary version of the regulations on the Web today and intends to publish them in the Federal Register Dec. 7.
Comments will be due 30 days after the official Federal Register publication date.
One section of the proposed regulations deals with broker compensation for coverage sold through a federal individual exchange or a federal SHOP small business exchange.
CMS officials note that it and its parent department have much less ability to influence health insurance broker compensation than a state has.
In an effort to create a level playing field, CMS is proposing that a federal individual or SHOP exchange will certify a carrier as a QHP only if offers similar broker compensation to QHPs and non-exchange plans.
"We request comment on whether 'similar health plans' is a sufficient standard and if not, which factors should be considered in identifying 'similar health plans,'" officials said. "We also request comment on how this standard might apply when small group market product commissions are calculated on a basis other than an amount per employee or covered life or a percentage of premium."
The proposed regulations also would let a federal individual or SHOP exchange post the information of agents and brokers registered to do business with the exchange -- and only those producers -- on its website.
"We believe that listing only brokers who have registered with the exchange is in the best interest of the consumer, both because the registration and training helps assure that the agent or broker is familiar with the exchange policies and application process and because the proposed listing will not contain large numbers of licensed brokers who are not active in the market
," officials said.
CMS posts risk-management proposals | LifeHealthPro