This chapter applies to a third-party payer operating in the State of Maryland, as of July 1, 1997, whose premium volume exceeds $1,000,000 as reported in the most recent annual statement in the hands of the Maryland Insurance Administration as of December 1 of each calendar year. At the discretion of the Maryland Health Care Commission, this chapter may also apply to third party payers operating in the State of Maryland whose premium volume is $1,000,000 or less.