Officials take another look at hospital use of offshore captive insurance companies

By: Danielle J. Brown

Outlets: Maryland Matters

Published: October 10, 2026

Words: 870

Last Updated: 5 days ago

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State officials are taking another close look at how Maryland’s nonprofit hospitals store billions of dollars in “captive insurance” companies domiciled in the Cayman Islands to determine if those funds should be subject to state taxes.

Hospital representatives, a national whistleblower and Maryland Insurance Administration officials met virtually this week in first public information gathering session on the question: How can Maryland officials ensure that nonprofit hospitals are not skirting state tax laws through the …

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