NAIC Logo CIPR Logo  
 HOME | NEWSROOM NAIC on Facebook NAIC on Twitter NAIC Linked In NAIC News Feed (RSS)

FOR IMMEDIATE RELEASE

INSURANCE COMPANIES SHOULD END MEDICARE SCARE TACTICS, STATE REGULATORS WARN
Regulators Call on Congress to Rein in Marketing and Sales Abuses

WASHINGTON, D.C. (Sept. 25, 2009) — The National Association of Insurance Commissioners (NAIC) warns insurance companies to end practices that alarm senior citizens about federal health reform efforts, and is calling on Congress for changes to end marketing and sales abuses.

In a letter to Chairman Max Baucus (D-Mt.) and Ranking Member Charles Grassley (R-IA) of the U.S. Senate Finance Committee, the NAIC cites indication from the Centers for Medicare and Medicaid Services (CMS) of possible “misleading communications” to policyholders.

“State insurance regulators take scare tactics directed at senior citizens very seriously,” said NAIC President and New Hampshire Insurance Commissioner Roger Sevigny. “To the extent that state insurance agents and brokers may be participating in these communications or insurance companies are contacting non-Medicare Advantage policyholders, state regulators will remain vigilant and take appropriate action.”

“State regulators believe that these troublesome practices are directly tied to excess payments made to Medicare Advantage plans, and support changes made to federal law that would reign in these abuses,” said chair of the NAIC Health Insurance and Managed Care Committee and Kansas Insurance Commissioner Sandy Praeger. “In addition to changes to payments made to Medicare Advantage plans, we urge you to restore state insurance regulatory authority over Medicare private plans.”

Click HERE to view the full text of the letter.

About the NAIC

Formed in 1871, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The NAIC has three offices: Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and Securities Valuation Office, New York City. The NAIC serves the needs of consumers and the industry, with an overriding objective of supporting state insurance regulators as they protect consumers and maintain the financial stability of the insurance marketplace. For more information, visit www.naic.org.

You are currently subscribed to the “NAIC News Release” electronic service. For information regarding this service, please contact the NAIC Communications Division, 2301 McGee Street, Kansas City, MO 64106-2197, 816-783-8909.

To unsubscribe from NAIC Electronic Services, send a blank e-mail to
NAIC Opt Out services.

 

Contacts

Communications Division
(816) 783-8909 news@naic.org

Scott Holeman
Communications
Director

Jeremy Wilkinson
Electronic Communications
Manager

Miun Gleeson
Communications
Specialist

Vanessa Sink
Communications
Specialist

Steve Cohen
Communications Specialist

Visit the NEWSROOM to search news releases and for more media information

Join Our E-mail List
Receive the latest news releases and other information from the NAIC Communications Division!



NAIC Web Site | State Insurance Department Sites |
Copyright & Reprint Info | Privacy Statement ]

©2009 National Association of Insurance Commissioners. All rights reserved.