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NAIC Misses Initial Deadline On Medical Loss Ration Definition
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The National Association of Insurance Commissioners (NAIC), in a letter to Health and Human Services Secretary Kathleen Sebelius, said it was unable to meet the revised deadline of June 1 set by HHS to translate what qualifies for health insurers for “medical loss ratio” in the new healthcare reform law. “We certainly appreciate the need to complete this project as soon as possible—waiting until the [original] deadline of December 31, 2010, in the law is not an option—but we also appreciate, as you do, how critically important it is to do this right,” said NAIC President Jane Cline, who is also the West Virginia insurance commissioner.