By August 1, health insurance companies had to issue rebate checks based on their medical loss ratio formulas. The MLR provision of PPACA requires 15% or 20% of expenses be spent on plan administrative costs. Big "I" CEO Robert Rusbuldt shares several points about the law.

* "It's ironic that the regulations are requiring more work by agents and brokers for less commission in many states and agencies. The notification provisions the searching of options for their clients, the work that's required now because health insurance is more complex. Despite what the law says, a lot of states are not following what the law requires. With brokers that sell across state lines now they have to know the regulatory provisions."

* "Agents and brokers are clearly communicating with their clients. Whether it's a small group or large group, they're informing them that on August 1 there's a possibility they may get a rebate check on their health insurance plan."

* "The problem that insurance companies are having now is that in some states we're seeing less competition as a result of these formulas. There are actually insurance companies that have pulled out of certain states because this is something that is not well known."

Watch the entire video interview with Rusbuldt at

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