§ 15-129. Certificate of authority required for carrier to sell, issue, or deliver medical stop...
West's Annotated Code of MarylandInsuranceEffective: June 1, 2015
Effective: June 1, 2015
MD Code, Insurance, § 15-129
§ 15-129. Certificate of authority required for carrier to sell, issue, or deliver medical stop-loss insurance
(5) “Medical stop-loss insurance” means insurance, other than reinsurance, that is purchased by a person, other than a carrier or a health care provider, to protect the person against catastrophic, excess, or unexpected losses incurred by that person's obligations to third parties under the terms of a health benefit plan.
(b) Subject to subsection (d)(2) of this section, this section applies to each medical stop-loss insurer and each medical stop-loss insurance policy or contract that is delivered or issued for delivery in the State.
Certificate of authority required for carrier to sell, issue, or deliver medical stop-loss insurance
(c) Medical stop-loss insurance may only be sold, issued, or delivered in the State by a carrier that holds a certificate of authority issued by the Commissioner that authorizes the carrier to engage in the business of health insurance or to act as a nonprofit health service plan.
(d)(1) Except as provided in paragraph (2) of this subsection, a medical stop-loss insurer may not issue, renew, deliver, or offer a policy or contract of medical stop-loss insurance, if the policy or contract has:
(e) For a stop-loss insurance policy or contract issued to a small employer, a medical stop-loss insurer may not:
(f) For a stop-loss insurance policy or contract issued to a small employer, a medical stop-loss insurer shall:
(g) A medical stop-loss insurer who offers or issues a medical stop-loss insurance policy or contract that does not meet the requirements of this section shall be subject to the sanctions set forth in § 4-113 of this article for authorized insurers and § 4-212 of this article for unauthorized insurers.
(h) Nothing in this section shall be construed as:
Credits
Added by Acts 1999, c. 683, § 1, eff. June 1, 1999. Amended by Acts 2000, c. 61, § 1, eff. April 25, 2000; Acts 2008, c. 264, § 1, eff. June 1, 2008; Acts 2015, c. 494, § 1, eff. June 1, 2015.
MD Code, Insurance, § 15-129, MD INSURANCE § 15-129
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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