H.R.3183 - To amend title XXVII of the Public Health Service Act to exempt licensed independent insurance producer remuneration from the medical loss ratio.

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  • Official: To amend title XXVII of the Public Health Service Act to exempt licensed independent insurance producer remuneration from the medical loss ratio. as introduced.

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Introduced
 
House
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Senate
Passes
 
President
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10/13/11
 
 
 
 
 
 
 

Official Summary

Amends the Public Health Service Act to exclude remuneration paid for licensed independent insurance producers from administrative cost calculations for purposes of calculating the medical-loss ratio of a health insurance plan. Defines \"independent insurance producer\" to mean an insurance

Official Summary

Amends the Public Health Service Act to exclude remuneration paid for licensed independent insurance producers from administrative cost calculations for purposes of calculating the medical-loss ratio of a health insurance plan. Defines \"independent insurance producer\" to mean an insurance agent or broker, insurance consultant, benefit specialist, limited insurance representative, and any other person required to be licensed under the laws of the particular state to sell, solicit, negotiate, service, effect, procure, renew, or bind policies of insurance coverage or offer advice, counsel, opinions, or services related to insurance.

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