State insurance regulators have had trouble getting some of the numbers they need to analyze the effects of the huge deficit at the Patient Protection and Affordable Care Act (PPACA) risk corridors program.
The program was supposed to use cash from thriving PPACA exchange plan issuers to stabilize struggling issuers, but the U.S. Department of Health and Human Services (HHS) announced Oct. 1 that the program will pay less than $362 million of its $2.9 billion in obligations.
Members of the Capital Adequacy Task Force, an arm of the National Association of Insurance Commissioners (NAIC), talked about risk corridors program data Nov. 10, during a conference call, according to call minutes included in a packet prepared for the NAIC’s fall meeting.
During a discussion of health insurers’ 2014 financial strength data, task force members said a lack of standardized risk corridors data was hurting their ability to analyze the impact of the shortfall.
For 2014, some insurers reported 100 percent of the amount they thought the risk corridors program would owe them.
Some insurers reported no risk corridors program receivable, based on the expectation that program would flop.