"This is not a decision that we took lightly, but it was the right thing to do," Elevance chief financial officer Mark Kaye said at the UBS Healthcare conference, according to Modern Healthcare.
"They say, 'Oh my gosh, we need to tighten things up so we don't get outsized growth in a product that was already barely hanging on,'" says Vijay Kotte, CEO of the health insurance marketplace GoHealth.
In fact, 88% of beneficiaries in an eHealth survey said shopping for a plan is confusing and overwhelming.
Although 96% of Medicare Advantage and Part D plans contract with agents, Aetna, Centene, Cigna, Elevance, Humana and United Healthcare have stopped paying agents commissions on some Medicare Advantage plans in certain markets.
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