Your State Government's Oversight of Health Insurance in Maryland
The Government of the state of Maryland is responsible for developing, implementing and managing insurance regulations applicable to insurance business in the state. In meeting this obligation, the State Government will generally work to balance the needs of consumers within a business environment that supports a robust financial growth rate. With regards to health insurance, the State Government serves three major groups: consumers, insurance providers, and independent insurance brokers.
The Government's primary element of control for promoting a good health insurance system involves the licensing and oversight of health insurance providers and brokers. For managing insurance providers, the State Government develops basic standards for insurance products and performs periodic financial statement reviews, ensuring that taxation regulations are met. For insurance brokers, the State Government sets professional licensing qualifications, administers broker license tests and issues licenses, oversees continuing education requirements, and collects broker licensing fees. The State level Government is responsible for investigating insurance crimes and fraud, especially as it affects consumers or if it may harm the business environment of the state.
For insurance consumers, the State Government provides guidelines for consumers to help residents find their best health insurance choices. The State-level Government can also help consumers file appeals with their insurance provider when a dispute arises over the insurance policy terms. Lastly, the State Government performs the work associated with administering the State's Medicare program where subsidized insurance is provided to low income families, children who do not have health insurance, under-insured seniors, or self-employed individuals.