Florida Office of Insurance Regulation To Hold Public Hearing On Impact of Federal Health Care Legislation
Apr 16, 2010
Florida Insurance Commissioner Kevin McCarty announced on April 16, 2010, that the Florida Office of Insurance Regulation (“OIR”) will hold a joint public hearing with the Florida Health Insurance Advisory Board (“FHIAB”) on Tuesday, May 4, 2010 from 4:00 p.m. to 7:00 p.m. to discuss the potential effects of recent federal health care legislation on Florida, specifically relating to Medical Loss Ratio requirements.
The FHIAB, which is chaired by Commissioner McCarty, will hold a regular business meeting from 1:00 p.m. to 3:00 p.m. on the same day.
Both meetings will be held at the Orange County Commission Chamber in Orlando.
A Colodny Fass representative will attend each event and provide a report on the proceedings.
A related news release issued by the OIR is reprinted below.
Should you have any questions or comments, please contact Colodny Fass.
OFFICE ANNOUNCES PUBLIC HEARING ON MARKET IMPACT OF FEDERAL HEALTH CARE LEGISLATION
April 16, 2010
TALLAHASSEE, Fla. – Insurance Commissioner Kevin McCarty today announced the Office of Insurance Regulation (Office) will hold a joint public hearing with the Florida Health Insurance Advisory Board (FHIAB). These entities will use the hearing as an opportunity to gather information related to federal health care implementation and its potential impact on Florida, specifically as it relates to the Medical Loss Ratio (MLR).
“Although very technical, the Medical Loss Ratio requirements included in the recently passed federal health reform legislation could dramatically alter the health insurance marketplace,” remarked Commissioner McCarty. “This public hearing is intended to be a fact-finding exercise to determine the potential impact of federal MLR requirements on the health insurance marketplace.”
The FHIAB will hold a meeting to conduct its regular business from 1 – 3pm Tuesday, May 4, 2010, in Orlando, FL, at the Orange County Commission Chamber. This will include an overview of the federal health reform legislation. The meeting is open to the public. Commissioner Kevin McCarty is the Chair of this advisory board vested with the responsibility of making recommendations to the Governor and Florida Legislature on health insurance issues.
Following the regular meeting, the Office will host a joint public hearing with FHIAB from 4 – 7pm to discuss the impact of the MLR requirements, especially as it pertains to the individual health insurance marketplace. The MLR is the percentage of health insurance premiums dedicated to payment of medical expenses and quality improvement. The federal health reform legislation recently passed by Congress requires health insurance companies to maintain minimum loss ratios for major medical insurance. The hearing transcript may be submitted to the U.S. Department of Health and Human Services in response to its rulemaking efforts. The hearing will include panel discussions as well as public testimony. Interested parties are encouraged to submit written testimony for the public hearing to FHIAB Executive Director Torre Grissom at edFHIAB@gmail.com prior to the hearing.
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