MD SB795

Creates new Subtitle 22 in Maryland Insurance Article establishing comprehensive regulations for vision benefit plans, vision benefit discount plans, and vision benefit managers operating in the state

Requires insurers and vision benefit managers to disclose corporate information on their websites including legal name, addresses, regulatory agencies, parent/subsidiary companies, litigation history for past 5 years, and formal complaints filed with the Administration

Mandates provider contracts include fee schedules specifying reimbursement amounts for each covered service and material, prohibits requiring providers to offer services at a financial loss, and bars restrictions on providers' choice of suppliers or optical laboratories

Prohibits insurers from requiring prior authorization for covered services, using extrapolation in audits, retroactively reversing payments when providers relied on eligibility verification, or altering billing codes submitted by providers

Establishes credentialing timelines requiring decisions within 30 business days, provides eye care providers a private right of action with damages capped at $10,000 per violation, and takes effect January 1, 2027