Maryland § 31-117
Full text of Maryland Maryland Code § 31-117, with citation guidance and answers to common questions.
§ 31-117.
(a) The Exchange, in consultation with the Commissioner and as approved by the Board, shall establish and implement a State Reinsurance Program:
(1) to provide reinsurance to carriers that offer individual health benefit plans in the State;
(2) that meets the requirements of a waiver approved under § 1332 of the Affordable Care Act; and
(3) that is consistent with State and federal law.
(b) The State Reinsurance Program shall be designed to mitigate the impact of high–risk individuals on rates in the individual insurance market inside and outside the Exchange.
(c) (1) Based on available funds, the Exchange, in consultation with the Commissioner and as approved by the Board, shall establish reinsurance payment parameters for calendar year 2019 and each subsequent calendar year that include:
(i) an attachment point;
(ii) a coinsurance rate; and
(iii) a coinsurance cap.
(2) The Exchange, in consultation with the Commissioner and as approved by the Board, may alter the parameters established in accordance with paragraph (1) of this subsection as necessary to secure federal approval for a waiver submitted in accordance with § 31–117.1(a) of this subtitle.
(d) Beginning January 1, 2019, funding for reinsurance in the individual market through the State Reinsurance Program may be made by using:
(1) any pass–through funds received from the federal government under a waiver approved under § 1332 of the Affordable Care Act;
(2) any funds designated by the federal government to provide reinsurance to carriers that offer individual health benefit plans in the State; and
(3) any funds designated by the State to provide reinsurance to carriers that offer individual health benefit plans in the State.
(e) The implementation of a State Reinsurance Program for reinsurance in the individual market shall be contingent on approval from the U.S. Secretary of Health and Human Services and the U.S. Secretary of the Treasury of a State Innovation Waiver application under § 1332 of the Affordable Care Act.
(f) On or before January 1, 2019, the Exchange shall adopt regulations implementing the provisions of this section.
Frequently Asked Questions About Maryland § 31-117
What does Maryland Code § 31-117 cover?
Section 31-117 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 31-117?
A common citation format is "Maryland Code § 31-117" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 31-117 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.