Broker Payment Transparency Rule May Trigger Policy Changes

So far this month, in addition to allocating hundreds of millions of dollars in federal funding to augment various aspects of the Affordable Care Act marketplaces, the Biden administration has also proposed a regulation that would increase transparency about how brokers are compensated for selling certain health plans. Health policy experts say that while those new requirements may not be particularly helpful for consumers, they could eventually trigger policymaking that alters some insurers’ broker payment practices.

The broker compensation provisions appear in a notice of proposed rulemaking (NPRM) issued jointly by HHS, the Labor and Treasury departments and the Office of Personnel Management — a large portion of which is devoted to establishing new data-reporting requirements for air ambulance services (which historically were a frequent source of surprise medical bills). In addition to those provisions, the NPRM proposes to require issuers offering individual health insurance coverage or short-term, limited duration insurance (STLDI) to “disclose to policyholders, before finalizing plan selection as well as on documentation confirming the individual’s enrollment, commission rates and compensation structure for other direct and indirect compensation provided by the issuer to an agent or broker associated with enrolling those individuals.”

0 Comments
© 2021 MMIT

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured_AdobeStock_321525828.jpg
November 24

‘Long COVID’ Presents Big Challenges for Health Plans, Patients

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured-Image-Pathway-or-Perish-The-Two-Pronged-Hurdle-to-Ensuring-Access-in-Oncology.jpg
November 24

Insurers Applaud New CMMI Push for Risk-Based Contracting

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured_AdobeStock_176559451.jpg
November 24

Non-Emergent 911 Calls Offer Intervention Opportunity

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today