Adoption of COMAR 31.10.43 - Medical Stop-Loss Disclosure for Small Employers

LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor MARYLAND INSURANCE ADMINISTRATION AL REDMER, JR. Commissioner NANCY GRODIN Deputy Commissioner 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov # BULLETIN 15-28 To: Insurers and Nonprofit Health Service Plans that Sell Medical Stop-Loss Insurance in Maryland Re: Adoption of COMAR 31.10.43 Medical Stop-Loss Disclosure for Small Employers Date: November 13, 2015 The purpose of this Bulletin is to notify insurers and nonprofit health service plans (“carriers”) that sell medical stop-loss insurance in Maryland that new regulations, COMAR 31.10.43 Medical Stop-Loss Disclosure, were adopted today as final regulations in the Maryland Register. These regulations were originally published in Volume 42, Issue 19 of the Maryland Register on September 18, 2015, and are being finalized without any changes. The regulations require that carriers provide a completed medical stop-loss disclosure form to small employers before entering into a policy or contract of medical stop-loss insurance. The regulations also set forth the standard disclosure form to be completed by carriers. While COMAR 31.10.43 was finalized today, the effective date is being deferred until January 1, 2016, to permit carriers the time needed to implement the new regulations. Questions about this Bulletin may be directed to the Life/Health Section of the Maryland Insurance Administration at 410-468-2170. signature on original Brenda A. Wilson Associate Commissioner Life and Health