New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 10 - HEALTH INSURANCE
Part 15 - LONG-TERM CARE INSURANCE
Section 13.10.15.12 - CONTINUATION OF COVERAGE OR CONVERSION REQUIRED
Universal Citation: 13 NM Admin Code 13.10.15.12
Current through Register Vol. 35, No. 18, September 24, 2024
A. Group long-term care insurance issued in this state on or after July 1, 1997 shall provide covered individuals with a basis for continuation or conversion of coverage.
B. Continuation of coverage or issuance of a converted policy shall be mandatory, except where:
(1) termination of group coverage resulted
from an individuals failure to make any required payment of premium or
contribution when due; or
(2) the
terminating coverage is replaced not later than thirty-one (31) days after
termination, by group coverage effective on the day following the termination
of coverage:
(a) providing benefits identical
to or benefits determined by the Superintendent to be substantially equivalent
to or in excess of those provided by the terminating coverage; and
(b) the premium for which is calculated in a
manner consistent with the requirements of Subsection C of 13.10.15.14
NMAC.
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