Current as of: 2010
// EFFECTIVE UNTIL DECEMBER 31, 2010 PER CHAPTERS 557 AND 558 OF 2008 //
(a) Funds for the Program shall be deposited:
(1) to a segregated account in the Fund established under § 14–504 of this subtitle; or
(2) to a separate account for the Program established by the Program Administrator.
(b) The segregated account shall include:
(1) interest and investment income attributable to Program funds; and
(2) money deposited to the account by a nonprofit health service plan, in accordance with subsections (c) and (d) of this section.
(c) (1) On or before April 1, 2003 and quarterly thereafter, the nonprofit health service plan required to subsidize the Program under § 14–106(d) of this title shall deposit to the Fund under § 14–504 of this subtitle the amount that is necessary to operate and administer the Program for the following quarter.
(2) The amount deposited shall be determined by the Board based on enrollment, expenditures, and revenue for the previous year.
(3) The amount required by the Board under paragraph (2) of this subsection may not exceed the amounts specified in § 14–106(e) of this title.
(4) The Board shall provide funds to the Administrator, in accordance with the terms of the contract with the Administrator, for the cost of the State subsidy and administrative expenses incurred on behalf of the Program.
(d) In addition to the amount deposited under subsection (c) of this section, a nonprofit health service plan shall deposit in the Fund under § 14–504 of this subtitle the amount required under § 14–106.2 of this title to be used for the purpose of subsidizing the Medicare Part D coverage gap.Prev
Questions & Answers: Insurance
U.S. Code Provisions: Insurance
Federal Regulations: Insurance