Bill Positions

Bill Number: SB 611

Bill Title: Insurers, Health Maintenance Organizations, and Managed Care Organizations - Compensation Reports

Bill Sponsor(s): Senator Della

Subject: Health

Committee: FIN

Bill Summary: This bill would have required each insurer, HMO, and Managed Care Organization to annually report to the Insurance Commissioner the compensation, salary, bonuses, and perquisites of each officer and executive in the company.

History: In 2010 SB 611 received an unfavorable report from the Finance Committee.

Chamber Position: Oppose

Position Summary: The requirement for insurers to report various types of compensation for officers and executives was overly broad and unnecessary. The Insurance Commissioner currently has authority to request such compensation data from carriers. The breadth of the definition of compensation in the bill, as well as the reference to "officers and executives", would have required the production of voluminous data for hundreds of individuals in some companies, most of who do not even reside in Maryland or have a connection to Maryland. The bill would have created a burdensome and unnecessary precedent for businesses.

Position Statement: To view the Chamber's complete position statement, click here (pdf).

Chamber Staff: Ronald Wineholt

General Assembly: Click here to view the bill on the Maryland General Assembly's website.