Sec. 7. Broker transparency

259 words·~1 min read·/bill/118/hr/35/ih/section-7

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Section 1128G of the Social Security Act ( 42 U.S.C. 1320a–7h ) is amended— in subsection (c)(1)(A), by striking 2011, and inserting 2011 (or, with respect to information required to be submitted under subsection (f)(1), not later than six months after the date of the enactment of such subsection), ; and by adding at the end the following new subsection: Beginning not later than 12 months after the date of enactment of this subsection, each issuer of a medicare supplemental health insurance policy shall annually submit to the Secretary a report regarding payments or other transfers of value made during the previous year to agents, brokers, and other third parties representing such policy.

Each such report shall include the following information, with respect to such a payment or other transfer of value: The name of the recipient of the payment or other transfer of value. The business address of the recipient. The amount of the payment or other transfer of value. The dates on which the payment or transfer of value was provided. A description of the form of the payment or transfer of value. Any other categories of information the Secretary determines appropriate.

The provisions of subsections

(b)through

(d)shall apply to an issuer described in paragraph (1), information required to be reported under such paragraph, and agents, brokers, and other third parties described in such paragraph in the same manner and to the same extent as such provisions apply to an applicable manufacturer, information required to be reported under subsection (a), and a covered recipient. .

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42 USC 1320a–7h

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Sec. 7

Broker transparency

Cite42 USC 1320a–7h

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