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FOR IMMEDIATE RELEASE

NAIC STATEMENT REGARDING HEALTH EXCHANGES AND STATE REGULATORY AUTHORITY

WASHINGTON, D.C. (July 31, 2012) — National Association of Insurance Commissioners (NAIC) President and Florida Insurance Commissioner Kevin M. McCarty and Sandy Praeger, Chair of the NAIC Health Insurance and Managed Care Committee and Kansas Insurance Commissioner, today issued the following joint statement:

"It is well established that the NAIC has no position on the Affordable Care Act (ACA), nor the type of health exchange implemented in the individual states. A recent media report about the implementation of health exchanges citing NAIC comments regarding state regulatory authority deserves clarification. States have full authority to establish their own exchanges, partner with the federal government, or defer to the federal government. Although the ACA sets forth minimum standards, the states have the opportunity to regulate and enforce their own market rules, including rate and form approval. The NAIC continues to advocate for maximum state authority and flexibility for those states implementing ACA."

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About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.

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