WASHINGTON, D.C., July 11, 2012 — The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) today praised the U.S. House of Representatives for passing H.R. 6079, which would fully repeal the Patient Protection and Affordable Care Act (PPACA).
The Big “I” has been actively engaged throughout the health care reform debate, opposed passage of the PPACA in March 2010 and was disappointed with the U.S. Supreme Court’s recent decision finding most of it constitutional. 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.
“The Big ’I’ is grateful to the House of Representatives for keeping up the pressure for repeal of the PPACA by passing H.R. 6079,” 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. Short of full repeal, the Big “I” will continue to work towards solutions to issues caused by the law that hurt agents most directly.
“The Big ‘I’ urges Congress to quickly fix the most onerous of the new law’s provisions,” says Charles Symington, Big “I” senior vice president of government affairs. “In particular, the Medical Loss Ratio (MLR) regulations have been in effect since January 2011, and are doing harm to our small business membership and their customers. If full repeal falls short, we ask Congress to amend these regulations as soon as possible to exclude agent compensation.”
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 approximately a quarter of a million 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.