42 CFR 457.431 - Actuarial report for benchmark-equivalent coverage.
(a) To obtain approval for benchmark-equivalent health benefits coverage described under § 457.430, the State must submit to CMS an actuarial report that contains an actuarial opinion that the health benefits coverage meets the actuarial requirements under § 457.430. The report must also specify the benchmark coverage used for comparison.
(2) Using generally accepted actuarial principles and methodologies of the American Academy of Actuaries;
(4) Using a standardized population that is representative of privately insured children of the age of those expected to be covered under the State plan;
(5) Applying the same principles and factors in comparing the value of different coverage (or categories of services);
(6) Without taking into account any differences in coverage based on the method of delivery or means of cost control or utilization used; and
(7) Taking into account the ability of a State to reduce benefits by considering the increase in actuarial value of health benefits coverage offered under the State plan that results from the limitations on cost sharing (with the exception of premiums) under that coverage.
(c) The actuary who prepares the opinion must select and specify the standardized set and population to be used under paragraphs (b)(3) and (b)(4) of this section.
Title 42 published on 2014-10-01
no entries appear in the Federal Register after this date.