On May 10, 2017, the Office of the New Mexico Superintendent of Insurance issued Bulletin 2017-005 in response to inquiries from industry representatives regarding the future regulation of stop loss insurance. This Bulletin provides that effective July 1, 2017, stop loss insurance will be defined and regulated exclusively as a casualty product, not as a health product. Further, carriers should anticipate that the Superintendent will propose regulations that include the following two requirements:
1.The aggregate attachment point must be equal to 110% or more of the underlying self-funded plan’s expected claims; and
2.Any individual or specific attachment point must equal or exceed $10,000.
Click HERE to view the Bulletin and/or instructional video.
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