Washington (October 29, 2020) – The National Association of Insurance Commissioners (NAIC) today releases its second update regarding the current pandemic and the insurance industry: A Report of the NAIC on the State Insurance Regulatory Response to COVID-19 Update 2. 

WASHINGTON (Oct. 28, 2020) — The National Association of Insurance Commissioners (NAIC) is releasing its proposed 2021 budget, following months of development by NAIC officers, the NAIC Internal Administration (EX1) Subcommittee, the NAIC Executive (EX) Committee and input from NAIC staff.  

Most health plans help pay the cost of covered prescription drugs. Insurers often use a “formulary” that lists what medicines will be covered and how much of the cost you’ll pay. If you need a specific prescription, you can review the plan’s formulary, a listing of what medications are covered, to learn if the drug is covered. A formulary usually has different tiers based on the type of covered medicine. Prescription medicines listed in one tier may cost you more than those in another tier. 

WASHINGTON (October 22, 2020) - Surprise medical billing is a concern for more than 60% of respondents to a National Association of Insurance Commissioners (NAIC) Center for Insurance Policy Research (CIPR) survey. According to the survey, a majority of consumers are afraid that they or a family member will receive a bill for health care services that they did not expect. State insurance regulators stand ready to assist consumers who receive such bills. 

Many consumers don't know how to make the most out of their health plans. To close the knowledge gap, the NAIC created a guide to help you understand health insurance benefits. The guide provides information on a range of health plan topics, including how to read your insurance card, out-of-pocket costs and balance billing.

As the third quarter of the year comes to a close, NAIC CEO and The Regulators host Mike Consedine catches up with NAIC President and Director of South Carolina Department of Insurance, Ray Farmer, to discuss the impact these unprecedented times the country is experiencing is having on NAIC's Priorities for the remainder of the year.

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