S. 1416 · 112th Congress
Medigap Medical Loss Ratio Improvement Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KerrySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Medigap Medical Loss Ratio Improvement Act of 2011 - 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.
What it does: CRS summary · Introduced in Senate · Jul 26, 2011
Medigap Medical Loss Ratio Improvement Act of 2011 - 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Medigap Medical Loss Ratio Improvement Act of 2011
Latest action (Jul 26, 2011): Read twice and referred to the Committee on Finance.
Policy area: Health · Origin: Senate · Introduced: Jul 26, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.