Maine Granted First Federal Waiver From Medical Loss Ratio Rules

On March 8, 2011, the federal Center for Consumer Information and Insurance Oversight (CCIIO), operating under the Centers for Medicaid and Medicare Services, granted the state of Maine the first waiver to the Patient Protection and Affordable Care Act’s (PPACA) medical loss ratio rule. The CCIIO waiver grants Maine an adjustment of the MLR to 65% for the next three years (Maine has maintained its own MLR standard of 65% for the individual market since 1993). The Maine Bureau of Insurance will be required to provide the CCIIO with updated data in 2012 to determine if the waiver is . . .