Proposed Standards for Health Insurer Tax May Hit State Budgets
As a standard-setting and regulatory support organization for state insurance regulators, the National Association of Insurance Commissioners (NAIC) plays a key role in implementing portions of the Affordable Care Act (ACA). Recently, it has focused on the accounting standards related to the new ACA annual tax on certain health care providers, beginning in calendar year (CY) 2014. Its draft proposal could financially affect states with Medicaid managed care programs. Beyond the NAIC proposal, the impact of the tax on health insurance premiums could have significant budget implications for many states.