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‘‘(B) The per enrollee payment under this 
part to the plan, as adjusted to reflect a risk 
score (based on factors described in section 
1853(a)(1)(C)(i)) of 1.0. 
‘‘(C) The average risk score (as so based). 
‘‘(2) SUBMISSION OF DATA.— 
‘‘(A) IN GENERAL.—Each Medicare Part C 
organization shall submit to the Secretary, in a 
form and manner specified by the Secretary, 
data necessary for the Secretary to publish the 
information described in paragraph (1) on a 
timely basis, including the information de-
scribed in paragraph (3). 
‘‘(B) DATA FOR 2008 AND 2009.—The data 
submitted under subparagraph (A) for 2008 
and for 2009 shall be consistent in content with 
the data reported as part of the Medicare Part 
C plan bid in June 2007 for 2008. 
‘‘(C) MEDICAL
LOSS
RATIO
DATA.—The 
data to be submitted under subparagraph (A) 
relating to medical loss ratio for a year— 
‘‘(i) shall be submitted not later than 
June 1 of the following year; and 
‘‘(ii) beginning with 2010, shall be 
submitted based on the standardized ele-
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ments and definitions developed under 
paragraph (4). 
‘‘(D) AUDITED
DATA.—Data submitted 
under this paragraph shall be data that has 
been audited by an independent third party 
auditor. 
‘‘(3) MLR INFORMATION.—The information de-
scribed in this paragraph with respect to a Medicare 
Part C plan for a year is as follows: 
‘‘(A) The costs for the plan in the previous 
year for each of the following: 
‘‘(i) Total medical expenses, sepa-
rately indicated for benefits for the original 
medicare fee-for-service program option 
and for supplemental benefits. 
‘‘(ii) Non-medical expenses, shown 
separately for each of the following cat-
egories of expenses: 
‘‘(I) Marketing and sales. 
‘‘(II) Direct administration. 
‘‘(III) Indirect administration. 
‘‘(IV) Net cost of private reinsur-
ance. 
‘‘(B) Gain or loss margin. 
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‘‘(C) Total revenue requirement, computed 
as the total of medical and nonmedical expenses 
and gain or loss margin, multiplied by the gain 
or loss margin. 
‘‘(D) Percent of revenue ratio, computed 
as the total revenue requirement expressed as a 
percentage of revenue. 
‘‘(4) DEVELOPMENT
OF
DATA
REPORTING 
STANDARDS.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
develop and implement standardized data ele-
ments and definitions for reporting under this 
subsection, for contract years beginning with 
2010, of data necessary for the calculation of 
the medical loss ratio for Medicare Part C 
plans. Not later than December 31, 2008, the 
Secretary shall publish a report describing the 
elements and definitions so developed. 
‘‘(B) 
CONSULTATION.—The 
Secretary 
shall consult with representatives of Medicare 
Part C organizations, experts on health plan ac-
counting systems, and representatives of the 
National Association of Insurance Commis-
sioners, in the development of such data ele-
ments and definitions. 
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