State insurance regulators are thinking about what health insurers ought to tell them about their interactions with the new Patient Protection and Affordable Care Act (PPACA) risk-management programs.
The Statutory Accounting Principles Working Group, part of the National Association of Insurance Commissioners (NAIC), talks about risk program disclosure rules in a new draft paper posted on the group’s section of the NAIC website.
PPACA calls for health insurers to help pay for a temporary reinsurance program, a temporary risk corridor program and a permanent risk-adjustment program.
The “3 R’s” programs are supposed to protect health insurers against any big swings in risk that occur because of PPACA.
The NAIC already has a collection of guidance, Statement of Statutory Accounting Principles Number 35R, that helps insurers report on participation in existing state and federal risk-management programs in their financial statement.
At the end of the new draft paper, the statutory accounting working group shows proposed 3 R’s disclosure guidelines.