SB 1041 Advisory Group
The SB 1041 Advisory Group is created by SB 1041 (2019). The legislation directs OHA to form an Advisory Group and charges the Group with making recommendations which will be reported to the Legislature by OHA before September 15, 2020. The Group is subject to the public meetings law.
The Group’s purpose is to advise and inform a report regarding recommended standards for reconciling the differences between the financial reporting required by the National Association of Insurance Commissioners (NAIC) and the financial reporting that the authority needs to regulate coordinated care organizations (CCOs).
The Group has concluded meeting and submitted their legislative report on September 15, 2020.
Deliverables
- Identify all applicable financial reporting requirements, to include specific NAIC reporting formats and forms
- Clearly identify and define all applicable NAIC reporting timelines
- Identify differences between applicable financial reporting requirements, e.g. Exhibit L and NAIC reporting requirements
- Identify redundant or duplicative financial reporting requirements
- Identify recommended procedures for review and publication of financial reports
- Identify recommended standardized reporting requirements, forms and templates and accounting framework as well as related guidance which captures any financial reporting required and not included in NAIC reporting
- Recommend the types of financial reports that are comparable across CCOs that would be included in regular reporting to the legislature and the public
- Inform and advise the report from OHA to the Legislature regarding the Group’s recommendations