Which organization was authorized by OBRA to develop standardized Medicare Supplement policies?

The organization authorized by the Omnibus Budget Reconciliation Act (OBRA) to develop standardized Medicare Supplement policies is the National Association of Insurance Commissioners (NAIC). The NAIC plays a key role in establishing a uniform framework for the regulation of insurance, which includes the creation of model laws and regulations that are adopted by state insurance authorities.

Standardized Medicare Supplement policies ensure that consumers receive consistent coverage options regardless of where they purchase their policies, making it easier to compare different plans. The NAIC's involvement ensures that these standards are beneficial for both policyholders and insurers, reinforcing consumer protection within the insurance marketplace.

Other options relate to various aspects of health care but do not play the specific role that the NAIC does in standardizing Medicare Supplement insurance. For instance, the Centers for Medicare & Medicaid Services (CMS) oversees Medicare but did not develop the standardized policies. Similarly, the Health Care Financing Administration (HCFA) was a former designation for CMS and is not involved in this aspect anymore. The National Institutes of Health (NIH) focuses on medical research and public health rather than insurance policy standardization.