FOR IMMEDIATE
RELEASE
NAIC APPROVES FORM FOR MLR FINANCIAL REPORTING
REQUIREMENTS
SEATTLE (Aug. 17, 2010) — The National
Association of Insurance Commissioners (NAIC) Executive
Committee/Plenary overwhelmingly approved final implementation of
the Medical Loss Ratio (MLR) Blanks Proposal to implement a
provision of the Patient Protection and Affordable Care Act (PPACA).
Blanks are the actual forms submitted by insurance companies to
report financial information to state regulators. Regulators will
then review this data to calculate MLR and any rebate required under
the new federal law.
The form's approval represents the culmination of months of work
by the Health Reform Solvency Impact Subgroup through meetings,
conference calls and public comment periods. The Executive Committee
adopted the final Blanks Proposal at their National Meeting in
Seattle on August 17, 2010.
The Blanks form is just one of many efforts being executed by the
NAIC to meet the requirements of the health care law. State
regulators and NAIC staff continue to work diligently to execute
these efforts in a thorough and transparent manner.
The approved Blanks form will be posted on the NAIC website on
Wednesday, August 18.
Click HERE to view the Medical Loss Ratio (MLR) Blanks
Proposal .
Click HERE for more information on NAIC health care
reform efforts.
About the NAIC
Formed in 1871, the National Association of Insurance
Commissioners (NAIC) is a voluntary organization of the chief
insurance regulatory officials of the 50 states, the District of
Columbia and five U.S. territories. The NAIC has three offices:
Executive Office, Washington, D.C.; Central Office, Kansas City,
Mo.; and Securities Valuation Office, New York City. The NAIC serves
the needs of consumers and the industry, with an overriding
objective of supporting state insurance regulators as they protect
consumers and maintain the financial stability of the insurance
marketplace. For more information, visit www.naic.org.