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PARRIS N. GLENDENING, Governor
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Ch. 323
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(1) ON OR BEFORE MARCH 1 OF EACH YEAR, EACH LICENSED HEALTH
SERVICES CONTRACTOR SHALL FILE WITH THE COMMISSIONER A REPORT THAT
SHOWS THE FINANCIAL CONDITION OF THE LICENSED HEALTH SERVICES
CONTRACTOR ON THE LAST DAY OF THE PRECEDING CALENDAR YEAR AND ANY
OTHER INFORMATION THAT THE COMMISSIONER REQUIRES BY RULE OR
REGULATION; AND
(2) ON OR BEFORE JUNE 1 OF EACH YEAR, EACH LICENSED HEALTH
SERVICES CONTRACTOR SHALL FILE, WITH THE COMMISSIONER AND ANY HEALTH
MAINTENANCE ORGANIZATIONS WITH WHICH THE LICENSED HEALTH SERVICES
CONTRACTOR HAS ENTERED INTO ONE OR MORE DOWNSTREAM RISK ASSUMPTION
CONTRACTS, AN AUDITED FINANCIAL REPORT FOR THE PRECEDING CALENDAR
YEAR
(B) THE ANNUAL REPORT SHALL:
(1) BE ON THE FORMS THAT THE COMMISSIONER REQUIRES; AND
(2) INCLUDE A DESCRIPTION OF ANY CHANGES IN THE INFORMATION
SUBMITTED UNDER THIS SUBTITLE.
(C) THE AUDITED FINANCIAL REPORT SHALL:
(1) BE ON THE FORMS THAT THE COMMISSIONER REQUIRES;
(2) DEMONSTRATE EXISTENCE OF THE REQUIRED MINIMUM CAPITAL
AND SURPLUS REQUIREMENTS; AND
(3) BE CERTIFIED BY AN AUDIT OF A CERTIFIED PUBLIC ACCOUNTING
FIRM.
(D) EACH FINANCIAL REPORT FILED UNDER THIS SECTION IS A PUBLIC
RECORD.
(E) THE COMMISSIONER MAY REQUIRE A LICENSED HEALTH SERVICES
CONTRACTOR TO PROVIDE QUARTERLY CLAIMS PAYMENT REPORTS ON THE STATUS
OF PAYMENTS MADE OR OWED TO PROVIDERS IN SUFFICIENT DETAIL TO
DETERMINE IF THE PAYMENTS ARE BEING MADE IN COMPLIANCE WITH THE LAW
15-10D-07.
(A) SUBJECT TO THIS SECTION, THE PROVISIONS OF TITLE 9, SUBTITLE 2 OF
THIS ARTICLE REGARDING THE REHABILITATION AND LIQUIDATION OF INSURERS
ARE APPLICABLE TO LICENSED HEALTH SERVICES CONTRACTORS.
(B) THE REHABILITATION OR LIQUIDATION OF A LICENSED HEALTH
SERVICES CONTRACTOR SHALL BE SUBJECT TO § 19-706.1 OF THE HEALTH
GENERAL ARTICLE AND SHALL BE CONDUCTED BY THE COMMISSIONER IN THE
SAME MANNER AS REHABILITATION OR LIQUIDATION OF A HEALTH MAINTENANCE
ORGANIZATION.
(C) THE FOLLOWING PROVISIONS SHALL APPLY TO LICENSED HEALTH
SERVICES CONTRACTORS IN THE SAME MANNER THAT THEY APPLY TO INSURERS:
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- 1939 -
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