With open enrollment just ending for 2016, many questions remain about the future of the Affordable Care Act (ACA). While the legislation was intended to create accessibility and affordability, there is now much uncertainty about the future of health insurance. While varying widely across state lines, the number of carriers providing individual health insurance over the past few years has been reduced sharply and many state marketplaces have shutdown. For those that remain, the availability of insurance across various states is piecemeal at best and the cost is skyrocketing.
As for the commissions paid for these individual and family plans, brokers across the nation are also feeling the crunch. Along with rising premiums and dwindling plans available within each state, many carriers are beginning to reduce or eliminate commissions altogether.
For insight into some of the reasons why, read Alan Katz’s excellent article The Endangered Individual Health Insurance Market.
Header image courtesy of “Pictures of Money” on Flickr