It's all about the Benjamins

In the event, UHC decided to completely do away with agent commissions on larger group health cases. Unfortunate;y for the carrier, however, the “notable exception” had already successfully lobbied to make that move a lot more difficult:

“Louisiana Insurance Commissioner Issues Cease and Desist Order to United HealthCare.”

The commish issued that order to derail UHC’s plan to “implement the removal of producer commissions from upcoming renewals of certain group health insurance products.”

On the one hand, kudos to HAFA for pushing legislation that curtails this abuse, and to the Pelican State for enforcing it.

On the other hand, lest folks ink this is an altruistic move by the DOI:

“… may additionally violate the insurer’s obligation to pay tax on its annual premiums under R.S. 22:842“

So there you have it.

It’s all about the (tax) Benjamins.

#Surprise

[Hat Tip: Co-blogger Bob V]