The National Association of Insurance Commissioners ended its year last week with a special joint conference call of its Executive and Plenary Committees. The group passed a number of regulatory measures, including:

The American Health Benefit Exchange Model Act which gives states a framework with which to create a health insurance exchange that is compliant with the federal law;
Model language to assist states as they bring their laws into compliance with regard to early implementation provisions of federal health care reform;
The Rate Filing Disclosure Form and Project Summary and Standard Definitions and Summary of Benefits Coverage which gives additional guidance to the Department of Health and Human Services as they implement provisions of health care reform;
An updated model bulletin on the Use of Retained Asset Accounts to ensure consumers are protected and that these types of settlements are appropriately used; and
The revised Insurance Holding Company System Regulatory Act and Insurance Holding Company System Model Regulation with Reporting Forms and Instructions which collectively provides state regulators with important new tools for evaluating risks within insurance groups.

The NAIC also adopted its 2011 operating budget which includes total revenues of $75.2 million and total expenses of $75.4 million.

Links to all of the measures approved on the call can be found here.

"Our work is a fitting capstone to a year of tremendous effort and collaboration," said NAIC President and West Virginia Insurance Commissioner Jane L. Cline. "The work we have done in health care, recommendations on the use and disclosures for retained asset accounts, and changes to the Holding Company Model Act demonstrate this organization's commitment to consumer protection within the context of stable markets and effective regulation. We look forward to building on this momentum in 2011."

Instant Insights /

NAIC wraps up year with health reform, regulatory adoptions

More From HR Executive

Related Stories

Recommended For You