Maine § 24-A §6305 Amount of assessment determined

Maine Statutes

§ 24-A §6305 — Amount of assessment determined

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 75 RURAL MEDICAL ACCESS PROGRAM

1.Determination of assessment based on anticipated savings. The amount of the assessment is calculated as follows.

2.Final evaluation of savings.

3.Assessment rates; program fund balance. For assessment years prior to July 1, 2006, the assessment is 1.25% of premium. For assessment years commencing July 1, 2006 and after, the assessment is 0.75% of premium unless adjusted pursuant to rules adopted in accordance with subsection 4. The assessment rate is intended to result in collections no greater than $500,000 per assessment year. The superintendent shall notify affected parties of any assessment rate adjustment and the effective date of that adjustment.

4.Establishment of assessment rate by rule. The superintendent may adopt rules pursuant to section 6311 establishing an assessment ra

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1.
Determination of assessment based on anticipated savings.
The amount of the assessment is calculated as follows.
2.
Final evaluation of savings.
3.
Assessment rates; program fund balance.
For assessment years prior to July 1, 2006, the assessment is 1.25% of premium. For assessment years commencing July 1, 2006 and after, the assessment is 0.75% of premium unless adjusted pursuant to rules adopted in accordance with subsection 4. The assessment rate is intended to result in collections no greater than $500,000 per assessment year. The superintendent shall notify affected parties of any assessment rate adjustment and the effective date of that adjustment.
4.
Establishment of assessment rate by rule.
The superintendent may adopt rules pursuant to section 6311 establishing an assessment rate or a methodology for calculating an assessment rate designed to provide an adequate and reliable funding source for the program and allow for the orderly and prudent drawdown of any long-term fund balance in excess of reasonable program needs. The assessment rate may not result in expected collections exceeding $500,000 per assessment year and may not exceed 0.75% of premium unless the program fund balance is $50,000 or less, in which case the assessment rate must be set to a higher rate but may not exceed 1% of premium.

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