Health-exchange regulations finalized by the Obamaadministration March 12 envision allowing agents, brokers andprivate companies to sell coverage on the exchange to individualsand employers through privately run Web sites.

A report issued by Beth Mantz-Steindecker, John J. Leppard andIra S. Loss of Washington Analysis, a Washington think tank forbuy-side security analysts and brokers, says the rules providegreat flexibility to the states to carve out a key role for agentsand brokers.

They add it is unlikely that private companies will be permittedto assess consumer eligibility for premium subsidies, cost-sharingarrangements or other affordability programs.

The analysts say that with Republicans currently in control ofthe majority of state governments—and with mostDemocratic-controlled states placing an emphasis on initial insurerparticipation rather than restrictive control—“we think that thisrule sets the framework for more market-driven exchanges than somehave feared.”

The analysts' comments were supported by officials of theNational Association of Insurance and Investment Advisors.

Officials of the National Association of Health Underwriters,whose members will be most directly affected by the exchanges, saythey are still evaluating the rules for their impact on itsmembers.