NAIFA President Terry K. Headley had this to say regarding the NAIC’s vote to adopt a model regulation containing the definitions and methodologies for calculating medical loss ratios:
"The commissioners are to be commended for their diligent exploration on how to ensure consumers have access to professional guidance, and NAIFA applauds NAIC for adopting a resolution to work with HHS on agent compensation. While disappointed the NAIC did not believe it has the authority to modify the MLR definition to accommodate agent commissions, NAIFA is hopeful that the NAIC and HHS will side with consumers by recognizing that agents need to be compensated for the vital assistance they provide consumers in managing day-to-day healthcare issues."
Terry K. Headley
President, National Association of Insurance and Financial Advisors
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