2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 23: Group and Blanket Health Insurance Contracts, 59A-23-1 through 59A-23-11
Section 59A-23-3.1: Group insurance reports required.
59A-23-3.1. Group insurance reports required.
A. At least quarterly, upon request by the employer, each insurer who has delivered or issued for delivery a policy of group insurance covering twenty-six or more employees, all or a portion of the premiums for which is paid by the employer of the insureds, shall submit to the employer a financial summary report by coverage of expenses incurred by or on behalf of the employees of that employer since the last report. The report shall include the number and amount of monthly paid claims, monthly covered lives and an accounting of reserves and retention costs.
B. Upon request by the employer, each insurer shall provide to the employer claims information that provides sufficient detail, subject to state and federal privacy laws, to enable the employer to obtain and compare group health insurance rates from multiple insurers or establish a plan of self-insurance.
C. The report and claims information required by this section shall be provided within thirty days from the date of request.
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