MORATORIUM ON APPROVAL OF EXPECTED BENEFIT FILINGS UNTIL PROMULGATION AND APPLICATION OF RULES

ST ATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Russell Toal ,Ill OFFICE at NEW MEXICO iupthisttxotht at IN}11RANCE BULLETIN 2020-003 February 25, 2020 DEPUTY SUPERINTENDENT Robert E. Doucette, Jr. TO: ALL INSURERS OFFERING EXCEPTED BENEFIT PLANS RE: MORATORIUM ON APPROVAL OF EXCEPTED BENEFIT FILINGS UNTIL PROMULGATION AND APPLICATION OF RULES Last year, tlie Legislature enacted tlie Slioit-Ten'n Healtli Plan and Excepted Benefit Act, Sections 59A-23G-1 througli 59A-23G-6 NMSA 1978, wliicli became effective on June 14, 2019. The Act requires tlie Superintendent to adopt and promulgate rules for excepted benefits plans as defined by the Act. Since tlie effective date of tlie Act, nearly 900 excepted benefits filings liave been submitted to the Superintendent for approval. Tl'ie Superintendent lias adopted and promulgated rules for some specific excepted benefits plans but not for all sucli plans. Tlie Superintendent will initiate a rulemaking proceeding to adopt and promulgate rules tliat will apply to the remaining excepted benefits plans. Until tliose rules go into effect, tlie Superintendent will not accept new excepted benefits filings and will administrativelywithdraw all excepted benefits filings pending approval. This does not impact new or pending excepted benefits filings for wliicli rules are already in place. Once tlie excepted benefits rules go into effect, a filer may re-submit for review any excepted benefit filing tliat was administratively witlidrawn. Tlie Superintendent will waive tlie filing fee for the resubmission if tlie SERFF tracking tun'nber of tlie witlidrawn filing is provided. Any previorisly approved excepted benefits plan may contimie to be sold in New Mexico rintil further order of tlie Superintendent. Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 100, Albuquerque, NA4 87110 Main Phone: (505) 827-4601 i Satellite Phone: (505) 322-2186i Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us B U L L E l- I N 2 0 2 0 - 0 0 3 P a g e 2 This Bulletin is effective iininediately. Ai'iy person aggrieved by this Bulletin may request a liearing before tlie Superintendent of Insurance in accordance with Section 59A-4-15, NMSA 1978. If you have questions regarding this Bulletin, please contact Viara Ianakieva at (505) 827- 4651 or at viara.ianakieva@state.nm.us. /" ISSUED tliis 25f'l day of February, 2020. .",.') ( '\ OAL Superin dent of Insurance Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 100, Albuquerque, NM 87110 Main Phone: (505) 827-4601 i Satellite Phone: (505) 322-2186i Toll Free: (855) 4 - ASK - OSI www.osi.state.iun.us