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PARRIS N. GLENDENING, Governor
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Ch. 323
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(g) THE REQUIREMENTS AND PENALTIES OF THIS SECTION THAT APPLY TO A
CHIEF EXECUTIVE OFFICER OF AN INSURER APPLY IN THE SAME MANNER TO A
DIRECTOR, OFFICER, OR TRUSTEE OF A LICENSED HEALTH SERVICES CONTRACTOR
(H) The Commissioner may issue a cease and desist order in accordance with
27-103 of this article against a person that violates subsection (e) or subsection (e) of
this section.
15-605.
(a) (1) On or before March 1 of each year, an annual report that meets the
specifications of paragraph (2) of this subsection shall be submitted to the
Commissioner by:
(i) each authorized insurer that provides health insurance in the
State;
(ii) each nonprofit health service plan that is authorized by the
Commissioner to operate in the State;
(iii) each health maintenance organization that is authorized by the
Commissioner to operate in the State; and
(iv) as applicable in accordance with regulations adopted by the
Commissioner, each managed care organization that is authorized to receive Medicaid
prepaid capitation payments under Title 15, Subtitle 1 of the Health - General
Article.
(2) The annual report required under this subsection shall:
(i) be submitted in a form required by the Commissioner; and
(ii) include for the preceding calendar year the following data for all
health benefit plans specific to the State:
1. premiums written;
2. premiums earned;
3. total amount of incurred claims including reserves for
claims incurred but not reported at the end of the previous year;
4. total amount of incurred expenses, including commissions,
acquisition costs, general expenses, taxes, licenses, and fees, estimated if necessary;
5. loss ratio; and
6. expense ratio.
(3) The data required under paragraph (2) of this subsection shall be
reported:
(i) by product delivery system for health benefit plans that are
issued under Subtitle 12 of this title;
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- 1933 -
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