Jan
14The biggest story of last year is no surprise: the ongoing battle over federal health reform, according to the latest IFAwebnews.com poll.
Exactly 73% of participants in the poll said the controversy surrounding the federal health reform law was the biggest insurance story in 20111.
During the year, the U.S. Supreme Court agreed to rule on the Patient Protection and Affordable Care Act, the landmark federal health reform law passed in March 2010, and states continuing to both battle in court and prepare for implementation. Meanwhile health insurance agents and brokers saw their commissions drop by as much as 50%, according to the nonpartisan U.S. Government Accounting Office, after insurers were forced spend no more than 20% of individual and small-group premiums, and 15% of large-group premiums on administrative costs, including agent and broker compensation.
Poll participants ranked the failure of Congress and President Barack Obama to extend the National Flood Insurance Program, which provides flood coverage to about 5.5 million property owners, for more than a few months at a time. During the course of the year, Congress continued to weigh a five-year extension, but was only able to muster votes to extend it to May this year.
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