WASHINGTON, March 13, 2017 /PRNewswire-USNewswire/ -- House Speaker Paul Ryan said a second
PIA is a steadfast supporter of the supervision and regulation of insurance by the states, and opposes all proposals to institute federal insurance regulation. State governors, legislators and regulators know best what will work in their unique markets, and what will not work. Allowing health insurance to be effectively exempt from state regulation by permitting insurers to pick their own regulator in one state—and by so doing, evade the requirements of all 49 other states—would, by federal edict, eviscerate local control.
"All insurance is local," said PIA National Executive Vice President & CEO Mike Becker. "This is especially true of health insurance. Proposals that would preempt state authority and not allow states to form compacts among themselves effectively turn aside the collective expertise of the states. The path to constructing a replacement for the ACA should lead to more state control, not less. This proposal would transfer power from the states to the federal government."
"Permitting the designation of any one state as regulator for all states would, in essence, impose a one-size-fits-all solution dictated by Washington, D.C.—which, ironically, has been one of the main criticisms of the ACA," Becker said.
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA's web address is www.pianet.com.
This press release is online at: http://pianet.com/news/press-releases/2017/piaopposeproposaltoallowhealthinsurancesaleacrossstatelines031317
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/professional-insurance-agents-oppose-proposal-to-allow-health-insurance-sales-across-state-lines-300422940.html
SOURCE National Association of Professional Insurance Agents
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