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Bill would require equal broker commissions during guaranteed-issue periods for Medicare supplement plans
Summary
Senate Bill 956 would require insurers to pay the same broker commissions during guaranteed-issue periods created by Maryland's 'birthday rule' as they pay during the open-enrollment period; sponsors said commission cuts have reduced broker assistance for older beneficiaries seeking to switch plans.
Senate Bill 956 was presented as a narrowly targeted measure to require carriers to pay the same broker commission during guaranteed-issue periods (the birthday rule) as during initial open enrollment for Medicare supplement insurance.
Sen. West said the bill responds to a problem in the Medicare-supplement market: when beneficiaries who…
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