The Center for Consumer Information & Insurance Oversight (CCIIO) says it’s looking hard at the data health insurers filed for the risk corridors program for the 2014 plan year.
The Patient Protection and Affordable Care Act (PPACA) risk corridors program is supposed to shift cash from exchange plan issuers that do well in 2014, 2015 and 2016 to issuers that do poorly.
CCIIO asked the affected health insurers to feed data into the program by July 31, using a data filing system the agency set up for the PPACA minimum medical loss ratio (MLR) compliance program.
Virtually all of the affected insurers turned their risks corridors program data in on time, CCIIO officials say in a memo posted on the Web.
But, “while conducting quality assurance of the risk corridors data, we have identified a significant number of discrepancies in the data, which makes it necessary to conduct additional data validation,” CCIIO officials say in the memo.
CCIIO will validate the information in the risk corridors program reports by comparing it to the information available through sources, and the agency may ask some issuers to resubmit their data, officials say.
Originally, CCIIO was going to tell health insurers how much they might get from the risk corridors program, and how much they might have to pay into the program, by Aug. 14 — Friday.
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While reviewing the risk corridors program filings, “we are postponing the publication of the preliminary risk corridors program results,” officials say.
CCIIO will “provide further information when the risk corridors data is accurate, complete and validated,” officials say.