As follow up to a previously posted article, U.S. Senators are proposing new laws that would require any financial incentives or other enticements paid to benefits brokers by health insurance carriers be made public. Supposedly “independent” brokers have been receiving financial incentives from various health insurance carriers, creating potential conflicts of interest that drive up costs to employers and their employees.
“‘The goal of this provision is to provide employers with information about their brokers’ incentives,’ said Taylor Haulsee, spokesman for the committee.
The proposal has the support of Michael Thompson, the president and CEO of the National Alliance of Healthcare Purchaser Coalitions, which represents groups of employers that provide health benefits. Thompson said employers often don’t recognize the biases at play when they purchase benefits. Even large companies, with experienced human resources managers, may not understand all the ways their brokers could be getting industry cash, he said.”
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