Maryland Insurance Section 19-808

Article - Insurance

§ 19-808.

      (a)      Each year the Office of Legislative Audits shall audit the receipts and disbursements of the Fund and the Commissioner shall include the audit as a part of the annual report required under subsection (c) of this section.

      (b)      The Fund, the Rate Stabilization Account, and the Medical Assistance Program Account shall be used only for the purposes stated in this subtitle.

      (c)      On or before March 15 of each year, the Commissioner shall report to the Legislative Policy Committee, in accordance with § 2-1246 of the State Government Article, on:

            (1)      for each year that an allocation is made to the Rate Stabilization Account:

                  (i)      the amount of money applied for by medical professional liability insurers during the previous calendar year;

                  (ii)      by classification and geographic territory, the amount of money disbursed to medical professional liability insurers on behalf of health care providers during the previous calendar year;

                  (iii)      by classification and geographic territory, the number of health care providers electing not to receive a rate reduction, credit, or refund in the previous calendar year;

                  (iv)      the costs incurred by the Commissioner in administering the Rate Stabilization Account during the previous calendar year, including a justification of the audit costs incurred under § 19-805(i) of this subtitle; and

                  (v)      the amount of money available in the Rate Stabilization Account on the last day of the previous calendar year;

            (2)      the amount of money available in the Fund and the Medical Assistance Program Account on the last day of the previous calendar year;

            (3)      (i)      the amount of money disbursed to the Maryland Medical Assistance Program under § 19-807 of this section;

                  (ii)      the amount of increase in fee-for-service health care provider rates; and

                  (iii)      the amount of increase in capitation payments to managed care organizations; and

            (4)      the report of audited receipts and disbursements of the Fund as required under subsection (a) of this section.



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