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.
NAIC Survey Says A Majority of Americans Worry About Receiving Surprise Medical Bills
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.
NAIC Releases Consumer Guide to Using Your Health Plan
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.
NAIC Podcast: 2020 Priorities Updated with NAIC President and SCDOI Dir. Ray Farmer
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.
Nearly Half of Consumers Don’t Understand How Their Health Insurance Would Pay for Coronavirus Testing and Treatment, According to A New NAIC Survey
WASHINGTON (October 6, 2020) - A new survey from the National Association of Insurance Commissioners (NAIC) shows that, overall, 47% of consumers surveyed say they don’t understand what their health insurance plans will pay for when it comes to coronavirus testing and treatment. And of the respondents who have been tested or treated for coronavirus, 34% of them say they received a bill that they expected their health insurance to cover.
The deductible is the amount you pay before your insurance company starts paying its share of the cost of health care services you receive. Even with insurance, you pay the full cost of services until you meet your plan’s deductible. An exception that applies to most plans are preventive services — most plans provide certain screenings and vaccines at no cost to you, whether you’ve met your deductible or not.
This is a regulator only session because the discussion or action contemplated will include:
Consideration of strategic planning issues relating to federal legislative and regulatory matters or international regulatory matters.