Iowa Insurance Commissioner Bulletin: November 27, 2013

(2013) Iowa Insurance Commissioner Bulletin: November 27, 2013. Insurance Division (Commerce)

bulletin 13-06 technical guidance indemnity plans.pdf

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On January 24, 2013, in a published Frequently Asked Questions (FAQ) document (Affordable Care Act Implementation, FAQ Part XI, available online at Sheets-and-FAQs/) the U.S. Department of Labor, the U.S. Department of Health and Human Services, and the U.S. Department of the Treasury (hereinafter collectively called “the federal departments) states that hospital indemnity or other fixed indemnity insurance policies under a group health plan provides excepted benefits only when the benefits are paid as a fixed dollar amount per day or other period of hospitalization or illness regardless of the amount of expenses incurred, among other requirements. Generally, most state insurance regulators have not required strict adherence to the fixed dollar amount per period as now required in the above referenced FAQ because that requirement was not part of 42 USC § 300gg-21 as enacted under the federal Health Insurance Portability and Accountability Act of 1996 (HIPAA). However, the requirement is contained in the final rule

Item Type: Departmental Report
Keywords: Insurance, Worker Compensation
Subjects: Business and industry > Insurance
Business and industry > Insurance > Health insurance and health care coverage > Workers compensation
ID Code: 23481
Deposited By: Margaret Barr
Deposited On: 21 Feb 2017 15:39
Last Modified: 21 Feb 2017 15:40