MN SF2051

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

Mandates that the commissioner establish uniform criteria, definitions, and standards for financial data submission in consultation with commissioners of health and commerce and participating plans.

Requires plans to submit to annual independent third-party audits conducted by firms that audit only governmental entities and have no financial relationships with the plans being audited.

Specifies that plans must 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.

Requires the commissioner to provide completed audit reports to the legislative auditor, attorney general, and health finance committee chairs, and applies to contracts effective January 1, 2013 and thereafter.