Department of Insurance, Securities and Banking

Review of CareFirst’s 2008 Surplus

DISB held 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 was held on September 10 - 11, 2009 and the purpose of the hearing was to determine whether the portion of GHMSI’s 2008 surplus attributable to the District was unreasonably large and inconsistent with the company’s community health reinvestment obligation under MIEAA. GHMSI furnished DISB with a report on how the company determined the appropriate amount of surplus that it needed to meet its (1) statutory and corporate surplus requirements; (2) actuarially determined risk exposures; and (3) expected and unanticipated contingencies.

The community had an opportunity to testify at the hearing and received documents and comments have been listed below. For further information on this hearing, contact the agency’s Freedom of Information Act unit at [email protected].

More information on surplus reviews is available here. More information about DISB’s current review of CareFirst’s surplus for the year ended December 31, 2011 is available here. Additional CareFirst surplus review filings are available here.

2009 Hearing-related Materials

The following documents related to the Hearing are available in PDF format.

Hearing Submissions

Pre-Hearing Reports

Post Hearing Reports

Maryland Insurance Administration (MIA) Hearing Information

Group Hospitalization and Medical Services, Inc. Documents