PARTIAL LIFTING OF ADVERTISING FILING MORATORIUM IMPOSED IN BULLETIN 2020-003

STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE ,11, DEPUTY SUPERINTENDENT Russell Toal 651 Robert E. Doucette, Jr. omctor NFW MEXICO """"""'o"" OflNSUIWCE 'd;":)''.-:""I' BULLETIN 2020-020 October 15, 2020 TO:
 = r-....:, = 0 (7 ·-{ RE: EVERY INSURER WHO INTENDS TO SELL, OR OFFER TO SELL, AN EXCEPTED BENEFITS PLAN IN NEW MEXICO PARTIAL LIFTING OF ADVERTISING FILING MORATORIUM IMPOSED IN BULLETIN 2020-003 In Bulletin 2020-003, the superintendent of insurance imposed a moratorium on excepted benefits filings until rnles are promulgated pursuant to Section 59A-23G-3 NMSA 1978. The moratorium applied to both plan documents and plan adve1tising. The moratorium did not prohibit the offer or sale of a previously approved excepted benefits plan. Based on the promulgation of 13 .10.34 NMAC, the superintendent issued Bulletin 2020- 017 on October 1, 2020, which paitially lifted the moratorium to allow excepted benefits filings for these excepted benefits products: (1) coverage-only for accident insurance; (2) coverage-only for a specified disease or illness; (3) Hospital indemnity or other fixed indemnity insurance; and (4) Champus/TRICARE supplement plans that provide one or more of the coverages specified in (1) through (3). Because the superintendent has not promulgated rnles for dental, vision or disability excepted benefits products, Bulletin 2020-017 did not lift the filing moratorium with respect to those products. The superintendent expects to promulgate rnles for additional excepted benefit products in 2021. Until rnles for specific excepted benefits products are promulgated, insurers are allowed to market previously approved products. Some excepted benefit insurers have asked the superintendent to accept and review filings for updated adve1tisements for previously approved products. The superintendent considers this a reasonable request, and therefore paitially lifts the 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) 322-2186 I Toll Free: (855) 4 - ASK· OSI www.osi.state.nm.us B U L L E T I N 2 0 2 0 - 0 2 C) Pagei2 moratorium imposed in Bulletin 2020-003 to allow issuers of previously approved excepted benefits plans to file and request approval of adveitisements for those plans. Form, rate and advertising filings submitted in SERFF for new excepted benefit products for which the filing moratoiium remains in effect will be administratively withdrawn and rejected in SERFF. If you have questions regarding this Bulletin, please contact Todd Baran at todd.baran@,state.nm.us. Thank you for your cooperation. ISSUED this 15' day of October, 2020. OAL Superin ndent 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.nin.us