MN SF1824

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

Mandates that all managed care and county-based purchasing plans undergo annual independent third-party financial audits as a condition of state contracts, with audits conducted by firms that work only for governmental entities and have no financial relationships with the plans being audited.

Requires plans to provide complete real-time encounter and claims data at the source level to the commissioner and auditors, with auditable proof of reported services upon request.

Grants the commissioner and contracted auditor unlimited access to all data necessary to complete audits, enforceable through injunctive relief, and prohibits actuaries working for the commissioner from providing services to participating plans during their work for the state.

Requires audit reports be shared with the legislative auditor, attorney general, and health finance committee chairs upon completion, with audits designed to qualify for federal subsidies where available and to verify compliance with federal Medicaid rate certification processes.