The superintendent may suspend all or any part of Section 5 [59A-23C-5 NMSA 1978] of the Small Group Rate and Renewability Act as to the premium rates applicable to one or more small employers for one or more rating periods upon a filing by the small employer carrier and a finding by the superintendent that either the suspension is reasonable in light of the financial condition of the carrier or that the suspension would enhance the efficiency and fairness of the marketplace for small employer health benefits.
History: Laws 1991, ch. 153, § 9.
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.
Structure New Mexico Statutes
Article 23C - Small Group Rate and Renewability
Section 59A-23C-1 - Short title.
Section 59A-23C-2 - Purpose of act.
Section 59A-23C-3 - Definitions.
Section 59A-23C-4 - Health insurance plans subject to the Small Group Rate and Renewability Act.
Section 59A-23C-5.1 - Adjusted community rating.
Section 59A-23C-6 - Provisions on renewability of coverage.
Section 59A-23C-7 - Disclosure of rating practices and renewability provisions.
Section 59A-23C-7.1 - Repealed.
Section 59A-23C-8 - Maintenance of records.
Section 59A-23C-8.1 - Employer utilization and loss data availability.