Md. Code Regs. 10.37.10.26-1

Current through Register Vol. 51, No. 24, December 2, 2024

Section 10.37.10.26-1 - Maryland Health Insurance Plan (MHIP) Assessment

A. The Commission shall determine and assess those funds necessary to operate and administer the MHIP. The Commission shall adjust hospital rates to implement the revenue neutral assessment.

B. The Commission shall assess each hospital up to 1 percent of its net patient revenue to operate and administer the MHIP. There shall be no MHIP assessment for Fiscal Year 2016.

C. Beginning on September 5, 2003, each hospital whose rates have been approved by the Commission shall remit monthly, by the 5th of each month, 1/12 of its total share of the annual funding assessment determined by the Commission to be owed by the hospital to the Maryland Health Insurance Plan Fund as established under Insurance Article, Title 14, Subtitle 5, Annotated Code of Maryland.

D. A hospital that fails to remit its funding assessment due in a timely manner may be subject to an annualized interest charge of 3 percentage points above the most recent average prime rate of interest, as published in the "Money Rates" section of The Wall Street Journal, on the unpaid balance. In addition, the Commission may impose penalties of up to 5 percent of the amount of any underpayment made by the hospital.

Md. Code Regs. 10.37.10.26-1

Regulation .26-1 adopted effective May 12, 2003 (30:9 Md. R. 615)
Regulation .26-1 amended as an emergency provision effective June 12, 2008 (35:14 Md. R. 1244); amended permanently effective October 6, 2008 (35:20 Md. R. 1775)
Regulation .26-1B amended as an emergency provision effective March 21, 2014 (41:8 Md. R. 468); emergency status extended to August 1, 2014 (41:15 Md. R. 888); amended permanently effective July 7, 2014 (41:13 Md. R. 753)
Regulation .26-1 amended as an emergency provision effective July 1, 2015 (42:16 Md. R. 1053)
Regulation .26-1 amended effective 42:22 Md. R. 1378, eff.11/9/2015