In a podcast interview, NAIFA Vice President Diane Boyle tells Employee Benefits Adviser that NAIFA is hopeful Congress will join the NAIC in recognizing the harmful effects the MLR has had on agents’ ability to serve consumers. Boyle said she hopes Congress will make the necessary change to the medical loss ratio. Says Boyle: “The intent of the MLR and the rebate was to make sure consumers were receiving the best value for their insurance premium dollars, and if you remove customer service from that equation and offer them a rebate, they’re being rebated and perhaps paying less but they’re getting a lesser product as a whole. We’re encouraged we can work with Congress on this. … The more that you talk about the issue and the more that people understand the complexity in the healthcare arena…then consumers will understand and want to have access to professional licensed insurance agents. And if (agents) are not compensated – which they’re not – how are they going to stay in business and provide that service?”
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In a podcast interview, NAIFA Vice President Diane Boyle tells Employee Benefits Adviser that NAIFA is hopeful Congress will join the NAIC in recognizing the harmful effects the MLR has had on agents’ ability to serve consumers. Boyle said she hopes Congress will make the necessary change. “The intent of the MLR and the rebate was to make sure consumers were receiving the best value for their insurance premium dollars, and if you remove customer service from that equation and offer them a rebate, they’re being rebated and perhaps paying less but they’re getting a lesser product as a whole. We’re encouraged we can work with Congress on this. … The more that you talk about the issue and the more that people understand the complexity in the healthcare arena…then consumers will want to have access to professional licensed insurance agents. And if (agents) are not compensated – which they’re not – how are they going to stay in business and provide that service?”