2018 New Mexico Statutes
Chapter 59A - Insurance Code
Article 23C - Small Group Rate and Renewability
Section 59A-23C-7 - Disclosure of rating practices and renewability provisions.
Each small employer carrier shall make reasonable disclosure in solicitation and sales materials provided to small employers of the following:
A. the extent to which premium rates for a specific small employer are established or adjusted due to the claim experience, health status or duration of coverage of the employees or dependents of the small employer;
B. the provisions concerning the carriers' right to change premium rates and the factors, including case characteristics, that affect changes in premium rates;
C. a description of the class of business in which the small employer is or will be included, including the applicable grouping of plans; and
D. the provisions relating to renewability of coverage.
History: Laws 1991, ch. 153, § 7.
Applicability. — Laws 1991, ch. 153, § 11 made the provisions of the act applicable to each health benefit plan for a small employer under the Small Group Rate and Renewability Act that is delivered, issued for delivery, renewed or continued in this state after July 1, 1991 and provided that the date a plan is continued or renewed is the first rating period that commences after June 14, 1991.