CMS wants insurers to attest to risk corridors data compliance

The Centers for Medicare & Medicaid Services plans to collect additional information from Qualified Health Plans in the individual and small group markets as part of the risk corridors and medical loss ratio programs, the agency announced yesterday. The agency said it needs the information to validate previously submitted data for the 2014 benefit year. Under the proposal, submitted to the Office of Management and Budget for emergency review, CMS plans to require companies with QHP issuers to complete a checklist to attest that their risk corridors and MLR data submission complied with guidelines. In addition, companies whose reported claims or premium amounts for risk corridors and MLR differ more than expected from data collected for other premium stabilization programs would be required to quantify those differences and provide a written explanation of the magnitude of the discrepancy, approved by an actuary. CMS will accept comments on the proposed information collection through Sept. 3. Earlier this month, CMS postponed plans to publish preliminary estimates of payments and charges for the temporary risk corridors program, citing the need for additional data validation.