§ 31-117. State reinsurance program
West's Annotated Code of MarylandInsuranceEffective: May 8, 2020
Effective: May 8, 2020
MD Code, Insurance, § 31-117
§ 31-117. State reinsurance program
(a) The Exchange, in consultation with the Commissioner and as approved by the Board, shall establish and implement a State Reinsurance Program:
(b) The State Reinsurance Program shall be designed to mitigate the impact of high-risk individuals on rates in the individual insurance market inside and outside the Exchange.
(c)(1) Based on available funds, the Exchange, in consultation with the Commissioner and as approved by the Board, shall establish reinsurance payment parameters for calendar year 2019 and each subsequent calendar year that include:
(d) Beginning January 1, 2019, funding for reinsurance in the individual market through the State Reinsurance Program may be made by using:
(e) The implementation of a State Reinsurance Program for reinsurance in the individual market shall be contingent on approval from the U.S. Secretary of Health and Human Services and the U.S. Secretary of the Treasury of a State Innovation Waiver application under § 1332 of the Affordable Care Act.
Credits
Added by Acts 2018, c. 6, § 2, eff. April 5, 2018; Acts 2018, c. 7, § 2, eff. April 5, 2018. Amended by Acts 2020, c. 628, § 1, eff. May 8, 2020.
MD Code, Insurance, § 31-117, MD INSURANCE § 31-117
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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