Maryland Code, INSURANCE 27-914
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Terms Used In Maryland Code, INSURANCE 27-914
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
(a) This section does not apply to life insurance policies, annuity contracts, long-term care insurance policies, or disability insurance policies.
(b) An insurer that provides health insurance, a nonprofit health service plan, or a health maintenance organization may not use race or ethnicity data to reject, deny, limit, cancel, refuse to renew, increase the rates of, affect the terms or conditions of, or otherwise affect a health insurance policy or contract.
(c) The Commissioner may issue an order under §§ 4-113 and 4-114 of this article and §§ 27-501 and 27-505 of this title if the Commissioner finds a violation of this section.