MN HF2412

Requires managed care and county-based purchasing plans to submit detailed financial data annually to the commissioner, including administrative expenses, revenues, provider payments, reimbursement rates, reinsurance data, and reserve contributions.

Mandates annual independent third-party financial audits of required financial information, conducted by firms meeting government auditing standards and licensed under Minnesota chapter 326A, with audit firms prohibited from providing other services to the audited plans during the audit and prior three years.

Requires biweekly encounter and claims data submission and establishes quality assurance programs to verify timeliness, completeness, accuracy, and consistency of data provided by managed care plans.

Eliminates reporting requirements for complaints and grievances summaries (Minnesota Rules part 4685.2000), medical necessity denials and appeals (Minnesota Statutes section 62M.09, subdivision 9), and salary reports (Minnesota Statutes section 62Q.64).

Allows managed care and county-based purchasing plans to use savings from eliminated or modified reporting requirements to pay assessments for implementing the new audit and financial reporting requirements.