Summary Box: Insurance rule recommendations OK'd

AP News
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Posted: Oct 21, 2010 3:12 PM
Summary Box: Insurance rule recommendations OK'd

FINAL RECOMMENDATION: As expected, the National Association of Insurance Commissioners is recommending that minimum requirements for the way premium revenue is spent on small group and individual insurance coverage be phased in over time.

WHAT THE LAW DOES: The new health care law calls for minimum medical loss ratios, or MLRs, of 80 percent for individual and small group health insurance and 85 percent for large group coverage.

WHAT'S NEXT: The Department of Health and Human Services will use the association's recommendations to iron out the final provision and will provide "clear guidance to stakeholders in the coming weeks."