MORATORIUM ON REVIEW AND APPROVAL OF EXCEPTED BENEFITS FILINGS

STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE INTERIM SUPERINTENDENT OF INSURANCE Jennifer A. Catechis Main Office: 1120 Paseo de Peralta, Fourth Floor, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us BULLETIN 2023-005 MARCH 8, 2023 TO: ALL INSURERS OFFERING EXCEPTED BENEFITS PLAN RE: MORATORIUM ON REVIEW AND APPROVAL OF EXCEPTED BENEFITS FILINGS UNTIL APPLICATION OF AMENDED RULES AND RECESSION OF BULLETINS 2020-003, 2020-17, 2020-20, AND 2020-22. The Legislature enacted the Short-Term Health Plan and Excepted Benefit Act, NMSA 1978 §§ 59A-23G-1 through 59A-23G-6, on June 14, 2019. The Act required the Superintendent to adopt and promulgate rules for excepted benefits plans as defined in the act. The Superintendent has been diligently adopting and promulgating rules for excepted benefits plans through 13.10.34 NMAC since that time. In Bulletin 2020-003, the Superintendent imposed a moratorium on excepted benefits filings until rules were promulgated in accordance with NMSA 1978 §59A-23G-3, and lifted portions of that moratorium through Bulletins 2020-17, 2020-20, and 2020-22, as targeted excepted benefits rules came into effect. A final complete excepted benefits regulation has been promulgated at 13.10.34 NMAC with an effective date of July 1, 2023. There is pending rule promulgation to extend that effective date. Until the final excepted benefits regulation goes into effect, the Superintendent will not accept any new excepted benefits filings, and will administratively withdraw all excepted benefits filings pending approval unless it is the stated intent of the carrier to seek approval under the final version of 13.10.34 NMAC that was initially intended to go into effect on July 1, 2023. B U L L E T I N 2 0 2 3 - 0 0 5 P a g e | 2 Main Office: 1120 Paseo de Peralta, Fourth Floor, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us Any previously approved excepted benefits plan, or Disability Income plan that was approved under the Interstate Insurance Compact, may continue to be sold in New Mexico until the effective date of the final version of 13.10.34 NMAC. If you have questions regarding this Bulletin, please contact Viara Ianakieva at viara.ianakieva@osi.nm.gov. ISSUED this 8th day of March, 2023. __________________________________ JENNIFER A. CATECHIS Interim Superintendent of Insurance