Bulletin 2011 03 Interim Final Rules and Regulation Health Insurance Issuers Implementing Medical Loss Ratio MLR Require
Qg Office of the Lieutenant Governor Division of Banking and Insurance Virgin Islands #5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774-9458 1131 King Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719-3801 BULLETIN 2011-03 DATE: May 9, 2011 TO: ALL LIFE AND HEALTH INSURERS RE: INTERIM FINAL RULES AND REGULATIONS- Health Insurance Issuers Implementing Medical Loss Ratio (MLR) Requirements under the Patient Protection and Affordable Care Act The Department of Health and Human Services issued the interim final regulation implementing medical loss ratio (MLR) requirements for health insurance issuers under the Public Health Services Act, as added by the Patient Protection and Affordable Care Act (45 CFR Part 158) effective January 1, 2011. …
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Qg Office of the Lieutenant Governor Division of Banking and Insurance Virgin Islands #5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774-9458 1131 King Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719-3801 BULLETIN 2011-03 DATE: May 9, 2011 TO: ALL LIFE AND HEALTH INSURERS RE: INTERIM FINAL RULES AND REGULATIONS- Health Insurance Issuers Implementing Medical Loss Ratio (MLR) Requirements under the Patient Protection and Affordable Care Act The Department of Health and Human Services issued the interim final regulation implementing medical loss ratio (MLR) requirements for health insurance issuers under the Public Health Services Act, as added by the Patient Protection and Affordable Care Act (45 CFR Part 158) effective January 1, 2011. Pursuant to Section 940 of Title 3, Virgin Islands Code and Section 1723 of Title 22, Virgin Islands Code, the Commissioner of Insurance of the Virgin Islands has issued interim rules and regulations to implement sections of the Federal Register until final rules and regulations have been adopted. The Virgin Islands through incorporation by reference has adopted the Interim Final Rules for Group Health Plans and Health Insurance Issuers relating to internal Claims and Appeals and External review processes under the Patient and Affordable Care Act. For further information, the interim rules may be found online at www.ltg.gov.vi. #2 Date this 5 day of May, 2011 at St. Thomas, U.S. Virgin Islands fekO Ap Drrexlap John D. McDonald Director