Medicare program; Medicare supplemental policies--Health Care Financing Administration. Interim final rule with...

This rule establishes a Federal program of certification of Medicare supplemental health insurance policies (Medicare supplemental policies) that insurers voluntarily submit for review. This rule implements requirements of section 507 of the Social Security Disability Amendments of 1980. HCFA will administer the Federal certification program. This program goes into effect July 1, 1982, and will apply only to policies issued in those States that do not have in effect a program for regulating Medicare supplemental policies equal to or more stringent than the one established under the law. A Supplemental Health Insurance Panel, consisting of the Secretary or a designee and four Commissioners or Superintendents of Insurance appointed by the President, determines the adequacy of a State's program in relation to the standards contained in the statute. These regulations: (1) Set standards for the certification of policies voluntarily submitted to HCFA, (2) establish procedures for the certification program, and (3) specify requirements regarding submittal of loss ratio data to HCFA for review.