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The Florida Office of Insurance Regulation recently summarized the status of implementation of federal health care reform at a meeting of the Florida Health Insurance Advisory Board. Michelle Robleto, the OIR’s Deputy Commissioner overseeing life and health insurance, provided the update. The OIR’s summary began with a recap of the new law, including the reforms […]
A recent report from the Kaiser Foundation indicated that health insurers will be required to issue millions of dollars in refunds because their medical loss ratios fall below new requirements. However, the Florida Office of Insurance Regulation issued a statement pointing out that the report might be drawing conclusions from data that was not intended […]
The U.S. Department of Health and Human Services has informed the Florida Office of Insurance Regulation that it will not reverse its decison to impose a medical loss ratio requirement of 80% on health insurers. The Florida Office of Insurance Regulation has been concerned for many months that imposing this medical loss ratio will be damaging […]
Medical Loss Ratio, Insurance Regulation News, Kevin McCarty
U.S. District Court Judge Roger Vinson has issued a response to the Department of Justice’s most recent motion in the federal healthcare lawsuit. Judge Vinson previously ruled that the federal healthcare law is unconstitutional, but the Department of Justice filed a motion seeking to ensure implementation will continue while it appeals. Vinson criticized the Department of Justice for […]
Florida Insurance Commissioner Kevin McCarty and other state insurance commissioners recently wrote to U.S. Department of Health and Human Services Secretary Kathleen Sebelius regarding concerns with the medical loss ratio requirements arising from the Patient Protection and Affordable Care Act (PPACA). Under the PPACA, the National Association of Insurance Commissioners (NAIC) must develop uniform definitions […]
The Office of Insurance Regulation recently announced that Florida Insurance Commissioner Kevin McCarty joined regulators from other states in voting to approve the NAIC’s recommended language for the Medical Loss Ratio (MLR) definition under the federal Affordable Care Act. Due to the definition of medical expenses, health insurance agent premiums were not included in the definition of […]
