Wow, South Dakota is going in an interesting direction. Business must be placed with an insurance agent, and no national carriers on the exchange. I wonder if non resident agents will be allowed....doubt it.
Senate panel votes to limit health-exchange providers
National health insurers would be banned from participating in the state's health exchange, a key component of Obamacare, under a bill passed unanimously Thursday in a Senate committee.
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Before the vote, the committee heard testimony from a half-dozen independent agents and insurance lobbyists. No one testified against the legislation.
South Dakota has about 1,500 independent agents. One of the larger insurance businesses based in South Dakota that would be protected is Great Plains Brokerage, which handles the Sanford health plan.
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The bill does allow multi-state plans to participate in the state exchange but prohibits them from offering products on the open market in South Dakota.A third key element in the legislation requires that any plan sold through the South Dakota exchange must be placed through a state-licensed insurance producer and the commissions paid must be the same for a plan sold through the exchange as for a similar plan sold outside the exchange.
Senate panel votes to limit health-exchange providers
National health insurers would be banned from participating in the state's health exchange, a key component of Obamacare, under a bill passed unanimously Thursday in a Senate committee.
------------
Before the vote, the committee heard testimony from a half-dozen independent agents and insurance lobbyists. No one testified against the legislation.
South Dakota has about 1,500 independent agents. One of the larger insurance businesses based in South Dakota that would be protected is Great Plains Brokerage, which handles the Sanford health plan.
-------------------
The bill does allow multi-state plans to participate in the state exchange but prohibits them from offering products on the open market in South Dakota.A third key element in the legislation requires that any plan sold through the South Dakota exchange must be placed through a state-licensed insurance producer and the commissions paid must be the same for a plan sold through the exchange as for a similar plan sold outside the exchange.
