Md. Code Regs. 10.25.01.16

Current through Register Vol. 51, No. 12, June 14, 2024

Section 10.25.01.16 - Licensed Insurance Producer Requirements

A licensed insurance producer in connection with the sale, solicitation, or negotiation of a health benefit plan to a small employer who meets the requirements described in Regulation .04 of this chapter shall:

A. Provide information to the small employer about wellness benefits;

B. At the time of initial application or at the time of policy renewal, advise the small employer to consult a tax advisor about the tax advantages of a Section 125 payroll deduction plan;

C. For small employers providing an HSA compatible health benefit plan to their employees, advise the small employers of the designated financial institution required to be utilized for administration of the employee's HSA account, if the HSA contributions are to be included in the calculation of the total premium subsidy; and

D. Ensure completion of the required employer and employee applications including any required affidavits, and forward the original copies of the applications to the carrier's subsidy administrator.

Md. Code Regs. 10.25.01.16

Regulations .16 adopted as an emergency provision effective June 12, 2008 (35:14 Md. R. 1243); adopted permanently effective August 25, 2008 (35:17 Md. R. 1486)