2006 New Mexico Statutes - Section 59A-54-16 — Pool policy.

59A-54-16. Pool policy.

A.     A pool policy offered under the Medical Insurance Pool Act [ 59A-54-1 NMSA 1978] shall contain provisions under which the pool is obligated to renew the contract until the day on which the individual in whose name the contract is issued first becomes eligible for medicare coverage, except that in a family policy covering both husband and wife, the age of the younger spouse shall be used as the basis for meeting the durational requirement of this subsection.   

B.     The pool shall not change the rates for pool policies except on a class basis with a clear disclosure in the policy of the right of the pool to do so.   

C.     A pool policy offered under the Medical Insurance Pool Act shall provide covered family members the right to continue the policy as the named insured or through a conversion policy upon the death of the named insured or upon the divorce, annulment or dissolution of marriage or legal separation of the spouse from the named insured by election to do so within a period of time specified in the contract subject to the requirements of Section 59A-54-16 NMSA 1978 [this section].