A panel of regulators has drafted a 2010 supplemental blank that insurers could use to record the medical expenses that will be used in medical loss ratio calculations.
The Financial Condition Committee at the National Association of Insurance Commissioners, Kansas City, Mo., has approved the blank proposal and posted the proposal in its section of the NAIC’s website.
The committee developed the proposal to implement minimum medical loss ratio provisions in the Affordable Care Act, the federal legislative package that includes the Patient Protection and Affordable Care Act.
The provisions will require health carriers to spend a minimum percentage of premium revenue on medical care and quality improvement activities.