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S.B. 707 VETOES
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Annotated Code of Maryland
(2002 Replacement Volume and 2004 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
15-605.
(c) (1) For a health benefit plan that is issued under Subtitle 12 of this title,
the Commissioner may require the insurer, nonprofit health service plan, or health
maintenance organization to file new rates if the loss ratio is less than 75%.
(2) (i) Subject to subparagraph (ii) of this paragraph, for a health
benefit plan that is issued to individuals the Commissioner may require the insurer,
nonprofit health service plan, or health maintenance organization to file new rates if
the loss ratio is less than 60%.
(ii) Subparagraph (i) of this paragraph does not apply to an
insurance product that:
1. is listed under § 15-1201(f)(3) of this title; or
2. is nonrenewable and has a policy term of no more than 6
months.
(iii) The Commissioner may establish a loss ratio for each insurance
product described in subparagraph (ii)1 and 2 of this paragraph.
(3) The authority of the Commissioner under paragraphs (1) and (2) of
this subsection to require an insurer, nonprofit health service plan, or health
maintenance organization to file new rates based on loss ratio:
(i) is in addition to any other authority of the Commissioner under
this article to require that rates not be excessive, inadequate, or unfairly
discriminatory; and
(ii) does not limit any existing authority of the Commissioner to
determine whether a rate is excessive.
(4) (i) In determining whether to require an insurer to file new rates
under this subsection, the Commissioner may consider the amount of health
insurance premiums earned in the State on individual policies in proportion to the
total health insurance premiums earned in the State for the insurer.
(ii) The insurer shall provide to the Commissioner the information
necessary to determine the proportion of individual health insurance premiums to
total health insurance premiums as provided under this paragraph.
(5) [The] IN ACCORDANCE WITH § 15-605.1 OF THIS SUBTITLE, THE
Secretary of Health and Mental Hygiene, in consultation with the Commissioner and
in accordance with their memorandum of understanding, may adjust capitation
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