SECTION 1. Section 8H of Chapter 26 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting after paragraph 3 the following words:

The division of insurance is directed to collect at least annually report to the Legislature and the public the following information from all domestic insurers and nonprofit hospital, medical and dental service corporations as defined in section one of chapter one hundred and seventy-six A, section one of chapter one hundred and seventy-six B, and section one of chapter one hundred and seventy-six E the following information on all types of medical and casualty insurance packages and programs whether publicly or privately funded that they write, underwrite or manage:

The medical loss ratio

Marketing and promotional costs

Claims management costs and the number of claims processed

Brokerage fees

Total compensation for all executives and consultants

Any additional administrative costs as determined by the commissioner.

Such information shall be collected and reported in a manner that permits accurate comparison of lines of business and products by:

Primary source of funding, state, local, federal, employer, individual;

Size of purchaser, including individual purchasers

Benefit package

Age

Gender

Health status Risk category

Geographic area

The first such report must be submitted to the Legislature and made available to the public no later than 6 months following enactment of this legislation.

The division of insurance is directed to produce forthwith; all information on qualifying student health insurance program (QSHIP) to determine, the medical loss ratio of all lines of business connected in any way with QSHIP, an evaluation produced by the division of the actuarial value of the health insurance policies that are mandated for these students and the promotional and marketing costs that are associated with QSHIP, comprehensive information on executive and consultant compensation in each of the companies that are writing such insurance and brokerage fees and administrative costs that are incurred in the course of doing business in the QSHIP market.