NAIFA President Rob Smith sent the following letter of support to Sens. Mary Landrieu (D-LA), Johnny Isakson (R-GA), Mark Begich (D-AK) and Lisa Murkowski (R-AK):
The National Association of Insurance and Financial Advisors (NAIFA) shares your concern with the adverse impact on consumer service resulting from the application of the medical loss ratio (MLR) in the individual and small group health insurance markets.
NAIFA applauds your efforts to provide relief from the well-intentioned rule that is having a devastating effect on agents and the clients they serve. It has resulted in 21% of NAIFA-surveyed members reporting downsized business and 41% indicating they stopped offering health insurance to some or all clients.
The balanced approach of S. 650, the Access to Independent Health Insurance Advisors Act of 2013, would appropriately preserve the valuable services and programs offered by licensed health insurance agents for the protection of consumers by removing agent remuneration from the calculation in the individual and small group markets.
NAIFA members are job creators in every Congressional district and primarily serve middle market consumers who are in need of affordable financial advice. We look forward to working with you, and Members of Congress on both sides of the aisle, to ensure consumers have access to professional assistance. Thank you again for your leadership.