…in the utilization of services by newly insured people. The researchers included the caveat that their projections may not account for all of the aspects of the ACA that will affect premiums, including premium subsidies, new benefit designs, taxes and assessments, federal risk mitigation programs, medical loss ratio requirements, and rate review rules. In particular, the analysis assumes that states…
…of paying claims for covered benefits. These employers often minimize their exposure to financial risk through the purchase of a stop-loss policy. Unfortunately, the Congressional requirement directed DOL to use Form 5500 to produce its annual report, and did not require or encourage DOL to expand its data collection to include self-funded small groups. And, in spite of the importance…
…investments in quality improvement activities as reported on their medical loss ratio (MLR) reporting forms. (Refresher: the MLR rule requires insurers to spend at least 80 or 85 percent of premium dollars on medical claims and quality improvement, and requires them to report on these expenditures). The authors found that insurers allocated less than 1 percent of premium dollars –…
…to be seen. Speaking of enforcement… will regulators be able to stop insurers and employers from exploiting loopholes to impede the consumer protections in the law? As Christine Monahan pointed out this week, new loopholes such as an “early renewal” loophole in which carriers begin their next plan or policy years on December 31, 2013 rather than January 1, 2014,…
…been largely ignored so far, such as the potential that the sale of stop-loss insurance to small groups or of unregulated indemnity insurance plans could undermine the consumer and market protection provisions of the Affordable Care Act,” said Timothy Jost, professor of law at Washington and Lee University. Contributing to the report were NAIC consumer representatives Elizabeth Abbott, Health Access;…
…or other incentives”, to improve health outcomes, reduce hospital readmissions, improve patient safety, implement wellness and health promotion activities, and reduce health disparities. Medical loss ratio (Section 2718 of the Public Health Service Act): Health insurers are now being held to higher quality standards through the ACA’s medical loss ratio rule, which requires plans to spend at least 80 percent…
…if stop-loss coverage is available with $0 attachment points nationally. By comparison, they find that if stop-loss coverage were only available with specific attachment points of $60,000 (and similarly high aggregate attachment points), “the fully insured small group market would be roughly 1.5 times as large and the average fully insured small-group premium would be at least 20 percent lower”…
…loss regulation. The ERISA (B) Working Group heard lively debate during a discussion on the regulation of stop-loss coverage. In response to concerns raised by small businesses as well as some insurers and brokers, the Working Group released a memorandum answering questions about its process and the study used to support the NAIC’s actions. Although the NAIC has deferred the…
…Waxman of California criticized Republicans for their tactics in attempting to stall implementation, first through the Supreme Court lawsuit, then by dragging out implementation until after the presidential election. He noted they are now complaining about the lack of guidance from HHS. “Stop the political grandstanding,” Waxman urged. “We have a law that is doing good already; it is going…
…reforms, many states have amended or passed new laws in response to the ACA’s new requirements for enhanced rate review as well as internal and external appeals processes. States have also amended their medical loss ratio standards, and a handful have begun implementing the ACA’s broader 2014 market reforms. These states include the District of Columbia, Maine, Maryland, New York,…
The opinions expressed here are solely those of the individual blog post authors and do not represent the views of Georgetown University, the Center on Health Insurance Reforms, any organization that the author is affiliated with, or the opinions of any other author who publishes on this blog.
