Medigap Medical Loss Ratio Improvement Act

Summary

Medigap Medical Loss Ratio Improvement Act - Amends title XVIII (Medicare) of the Social Security Act with respect to Medicare supplemental (Medigap) policies to increase the minimum loss ratio required of such policies. (A loss ratio is the ratio of total losses paid out in insurance claims, plus adjustment expenses, divided by the total earned insurance premiums.) Prohibits the issuance or renewal of a Medigap policy in any state unless the policy can be expected to return to policyholders in the form of aggregate benefits: (1) at least 85% (currently 75%) of the aggregate amount of premiums collected in the case of group policies, and (2) at least 80% (currently 65%) in the case of individual policies.

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Timeline

1. 26 July 2011

   Introduced

   Sponsor introductory remarks on measure. (CR E1411-1412)

   Source: IntroReferral

2. 26 July 2011

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 26 July 2011

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 July 2011

   Introduced

   Introduced in House

   Source: IntroReferral

5. 1 August 2011

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 July 2011 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 July 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 July 2011

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 July 2011

  Open at official source

Sponsors

• Rep. Stark, Fortney Pete [D-CA-9] · D · Sponsor
• Rep. Waxman, Henry A. [D-CA-24] · D · Sponsor
• Rep. Pallone, Frank [D-NJ-6] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-19] · D · Cosponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Cosponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

• related to ← Medigap Medical Loss Ratio Improvement Act of 2011