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2007 Laws of Maryland
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Ch. 174
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19-805.
(a) (1) Participation in the Fund by a medical professional liability
insurer shall be voluntary.
(2) On at least an annual basis, a medical professional liability insurer
seeking reimbursement from the Rate Stabilization Account shall:
(i) determine the amount of the subsidy for each policyholder;
and
(ii) send a written notice to each policyholder stating:
1. the amount of the estimated annual subsidy provided
by the State; and
2. the procedure a health care provider shall follow if
electing not to receive a rate reduction, credit, or refund.
(b) Subject to § 19-804(d) of this subtitle and subsection (c) of this section,
the subsidy provided to each policyholder shall be:
(1) for medical professional liability insurance policies subject to rates
that were approved for an initial effective date on or after January 1, 2005, but prior
to January 1, 2006, the amount of a premium increase that is greater than 5% of the
approved rates in effect 1 year prior to the effective date of the policy; [and]
(2) for medical professional liability insurance policies subject to rates
that were approved for an initial effective date on or after January 1, 2006, a
percentage of the policyholder's premium for the prior year that equals the quotient,
measured as a percentage of the balance of the Rate Stabilization Account for the
current calendar year divided by the aggregate amount of premiums for medical
professional liability insurance that would have been paid by health care providers at
the approved rate during the prior calendar year; AND
(3) IN ADDITION TO AMOUNTS PROVIDED UNDER ITEMS (1) AND
(2) OF THIS SUBSECTION, FOR MEDICAL PROFESSIONAL LIABILITY INSURANCE
POLICIES ISSUED TO FAMILY PRACTITIONERS WHO HAVE STAFF PRIVILEGES AT
GARRETT COUNTY MEMORIAL HOSPITAL AND WHO ALSO PROVIDE
OBSTETRICAL SERVICES AT GARRETT COUNTY MEMORIAL HOSPITAL, AN
AMOUNT EQUAL TO 75% OF THE DIFFERENCE BETWEEN THE POLICYHOLDER'S
PREMIUM FOR CALENDAR YEAR 2007, 2008, AND 2009 AND THE PREMIUM THAT
OTHERWISE WOULD BE PAYABLE IN THOSE CALENDAR YEARS IF THE
POLICYHOLDER WAS NOT PROVIDING OBSTETRICAL SERVICES.
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- 1368 -
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