2013 Maryland Code
INSURANCE
§ 6-103 - Tax rate


MD Ins Code § 6-103 (2013) What's This?

§6-103.

The tax rate is:

(1) 0% for premiums for annuities; and

(2) 2% for all other premiums, including:

(i) gross receipts received as a result of capitation payments made to a managed care organization, supplemental payments, and bonus payments; and

(ii) subscription charges or other amounts paid to a for-profit health maintenance organization.

§ 6-103 - 1. Annual distribution to the Spinal Cord Injury Research Trust Fund

Notwithstanding § 2-114 of this article, beginning January 15, 2006, from the tax imposed on the health insurers under this subtitle, $ 500,000 shall be distributed annually to the Spinal Cord Injury Research Trust Fund created under § 13-1406 of the Health - General Article.

§ 6-103 - 2. Annual distribution to Maryland Health Benefit Exchange Fund.

(a) In general. --

(1) (i) Notwithstanding § 2-114 of this article, beginning January 1, 2015, from the tax described in paragraph (2) of this subsection, a portion shall be distributed annually to the Maryland Health Benefit Exchange Fund established under § 31-107 of this article for the sole purpose of funding the operation and administration of the Maryland Health Benefit Exchange.

(ii) The operation and administration of the Maryland Health Benefit Exchange may include functions delegated by the Maryland Health Benefit Exchange to a third party under law or by contract.

(2) (i) The distribution under paragraph (1) of this subsection shall be allocated from the tax imposed on a person under § 6-102 of this subtitle on premiums for health insurance.

(ii) For purposes of this paragraph, "person" does not include:

1. a managed care organization authorized by Title 15, Subtitle 1 of the Health - General Article; or

2. a for profit health maintenance organization authorized by Title 19, Subtitle 7 of the Health - General Article.

(b) Amount. -- For State fiscal year 2015 and each State fiscal year thereafter, the amount to be distributed under subsection (a) of this section shall be sufficient to fully fund the operation and administration of the Maryland Health Benefit Exchange for the State fiscal year.

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