Oklahoma Insurance Commissioner Kim Holland told members of a Congressional panel on Tuesday, June 26th that insurance companies are preying on elderly Oklahomans by selling unnecessary Medicare plans.
Holland traveled to Washington, D.C. to testify before the U.S. House Committee on Energy and Commerce’s hearing on “Predatory Sales Practices in Medicare Advantage.”
“We have received hundreds of complaints from confused, unhappy and frightened citizens who have been misled or deceived during a sale,” Holland said.
“Our seniors are plagued by aggressive and frequently misleading advertising, agent high-pressure sales tactics, and a lack of responsiveness if not outright neglect from their insurance company.”
Holland wants a change in federal law to allow state insurance authorities to regulate companies marketing Medicare Advantage offerings. Currently, such plans are regulated by the federal government, and state authorities are pre-empted from regulating the sales.
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