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31.15.14.00.htm 31.15.14.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 15 UNFAIR TRADE PRACTICES Chapter 14 Administrative Service Fees Authority: Insurance Article, §2-109 and 27-216, Annotated Code of Maryland
31.15.14.01.htm 31.15.14.01. 01 Purpose.. The purpose of this chapter is to establish the standards applicable to insurance producers authorized to sell health insurance when providing administrative services to an employer, and to adopt the disclosure form required by Insurance Article, §27-216(g)3) Annotated Code of Maryland.
31.15.14.02.htm 31.15.14.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Administrative service” has the meaning stated in Insurance Article, §27-216(g) Annotated Code of Maryland.2) “Administrative service fee” means a fee that is:. a) Charged to an employer by an insurance producer for providing an administrative service to the employer; andb) A reasonable amount for the administrative services provided to the employer after consideration of:
31.15.14.03.htm 31.15.14.03. 03 Administrative Service Fee.. A. An insurance producer who is licensed under Insurance Article, Title 10, Annotated Code of Maryland to sell health insurance may not charge an administrative service fee for providing an administrative service to an employer unless the insurance producer:1) Clearly and accurately completes the disclosure form set forth in Regulation .06 of this chapter in accordance with this chapter and the instructions provided in the disclosure form;
31.15.14.04.htm 31.15.14.04. 04 Records.. A. An insurance producer shall retain a copy of the signed disclosure form for a period of 5 years.. B. An insurance producer shall retain documentation of the actual costs associated with providing the administrative service to an employer for a period of 5 years.
31.15.14.05.htm 31.15.14.05. 05 Rebating, Inducement, Coerced, or Tie-in Sales.. A. An insurance producer may not provide an administrative service to an employer unless an administrative service fee is charged for the administrative service.B. An insurance producer who provides an administrative service without charging an administrative service fee shall be subject to disciplinary action under the Insurance Article, Annotated Code of Maryland.
31.15.14.06.htm 31.15.14.06. 06 Disclosure Form.. The disclosure form required by Regulation .03 shall read as follows:. Click here to view pdf form.
31.15.14.9999.htm 31.15.14.9999. Administrative History Effective date: December 12. 2013 (40:24 Md. R. 2018).
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