The Department of Financial Services (DFS) issued a Circular Letter reviewing broker compensation for health insurance policies in the small group market. The Circular Letter simply reviews exiting statute and regulations related to broker compensation – no changes were proposed. DFS issued the guidance in an effort to “maintain affordable rates for consumers and ensure a level playing field for issuers and producers.” It appears that DFS wants to ensure that insurers do not incentivize brokers to focus on businesses with greater numbers of employees. Read the circular letter here.
