The DC Department of Insurance, Securities and Banking (DISB) has announced that the agency will hold a public hearing to determine whether the portion of GHMSI’s (Group Hospitalization and Medical Services, Inc.) surplus attributable to the District of Columbia is excessive under the Medical Insurance Empowerment Amendment Act (MIEAA).

 

The public hearing will be held on September 10, 2009 at 10 am to 5 pm at One Judiciary Square, 441 4th Street, NW, Suite 220 South. It will continue on September 11, 2009, if necessary, at the Old Council Chambers.

 

The purpose of the hearing is to determine whether the portion of GHMSI’s surplus attributable to the District is unreasonably large and inconsistent with the company’s community health reinvestment obligation under MIEAA. GHMSI, in advance of the hearing, will furnish DISB with a report on how the company determines the appropriate amount of surplus that it needs to meet its (1) statutory and corporate surplus requirements; (2) actuarially determined risk exposures; and (3) expected and unanticipated contingencies.

 

The community will have an opportunity to testify at the hearing.  Interested persons who wish to testify should send a letter to DISB Hearing Officer, Mrs. Leslie Johnson, and copy Mr. Stephen Taylor, General Counsel, at the address listed below by close of business on Thursday, September 3, 2009.  If unable to attend the Public Hearing written comments must be received no later than September 18, 2009 and sent to: 810 First Street, NE, Suite 701, Washington, DC 20002.

 

Note: The deadline for pre-hearing reports as described in the “Public Summary and DISB Action Plan for the Surplus Review of GHMSI under the Medical Insurance Empowerment Amendment Act of 2008” has been changed from August 26, 2009 to August 31, 2009.

 

• Letter from Maryland Administration*
• Letter from DC Republican Committee*
• Letter from Commonwealth of Virginia House of Delegates, 40th District*
• Letter from Virginia Association of Health Plans*
• Letter from Commonwealth of Virginia House of Delegates, 42nd District*