WASHINGTON, D.C., Jan. 19, 2011 — The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) today praised the U.S. House of Representatives for passing H.R. 2, which would fully repeal the Patient Protection and Affordable Care Act (PPACA).
The Big “I” was actively engaged throughout the health care reform debate in 2010 and opposed passage of the PPACA in March 2010. Although the association successfully worked to improve several provisions in the final language, the law unfortunately does little to stem the skyrocketing cost of health care and will be financed on the backs of small businesses during one of the most delicate financial periods in American history.
“The Big ’I’ is grateful to the House of Representatives for passing H.R. 2, the repeal of the PPACA,” says Bob Rusbuldt, Big “I” president & CEO. “Our members are both sellers and consumers of health insurance, and are therefore being hit twofold by the many negative consequences of the new health care law.”
The repeal bill will now be sent to the Senate, where its prospects appear to be slim.
“The Big ‘I’ strongly urges the Senate to follow the House’s action but, in recognition of the difficulty of passing a full repeal in the Senate and overriding an expected presidential veto, we also urge Congress to quickly fix the most onerous of the new law’s provisions,” says Charles Symington, Big “I” senior vice president of government affairs. “Some of the provisions that have taken effect, such as the Medical Loss Ratio (MLR) regulation, are so damaging that they are already hurting our fragile economy and costing jobs.”
Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, health, employee benefit plans and retirement products. Web address: www.independentagent.com.