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Arkansas Commissioner: Agent Support Needed for State Regulation

Arkansas Insurance Commissioner Jay Bradford says insurance producers' "support is needed for continued state-based regulation" with respect to healthcare reform. In an interview with Agent's...
November 2, 2010

Arkansas Insurance Commissioner Jay Bradford says insurance producers' "support is needed for continued state-based regulation" with respect to healthcare reform. In an interview with Agent's Sales Journal, Bradford also says it is in Arkansas consumers' best interests to keep health care reform 'functions state-based rather than federally based.' Arkansas plans to manage its own health insurance exchange, he says.

"In my view - and I come from an independent agent background having founded and run a successful statewide agency for 30 years - agents are key to the success of the exchanges," said Bradford. "At the recent NAIC meeting in Orlando, I went on record in my support of removing agents' compensation from the medical loss ratio (MLR) calculations. Unfortunately, this measure did not pass. My colleagues and I have appointed an EX subgroup to work with the Health and Human Services secretary to find a way to accommodate agent and broker compensation in the MLR as we work toward the 2014 implementation of the health insurance exchanges."

Bradford said the support of producers is needed for continued state-based regulation. "They should be focusing on the U.S. Congress, as they are the ones who can effect change when it comes to the provisions contained in PPACA," he said.

Click here to read "Q-and-A with AR Commissioner Bradford" (Agent's Sales Journal 10/28/10)