On October 21, 2010, the Executive and Plenary committees of the National Association of Insurance Commissioners (“NAIC”) voted to adopt a model regulation containing the definitions and methodologies for calculating medical loss ratios as stipulated under the Patient Protection and Affordable Care Act (“PPACA”). The model was delivered to Health and Human Services (“HHS”) on October 27, 2010 for certification. PPACA, which was signed into law on March 23, 2010, tasks the NAIC with, among other things, providing recommendations for the definitions and calculations of the medical loss ratios to HHS by December 31, 2010.

To read the NAIC's 10/21/10 release, click here.

To read the NAIC’s 10/27/10 letter to the HHS, along with a copy of the model regulation, click here.