New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 10 - HEALTH INSURANCE
Part 25 - MEDICARE SUPPLEMENT INSURANCE MINIMUM STANDARDS
Section 13.10.25.26 - STANDARDS FOR MARKETING
Universal Citation: 13 NM Admin Code 13.10.25.26
Current through Register Vol. 35, No. 18, September 24, 2024
A. Issuer's procedures. An issuer, directly or through its producers, shall:
(1) establish marketing procedures to
assure that any comparison of policies by its agents or other producers will be
fair and accurate;
(2) establish
marketing procedures to assure excessive insurance is not sold or
issued;
(3) display prominently by
type, stamp or other appropriate means, on the first page of the policy the
following: "Notice to buyer: This policy may not cover all of your medical
expenses"
(4) inquire and otherwise
make every reasonable effort to identify whether a prospective applicant or
enrollee for Medicare Supplement insurance already has accident and sickness
insurance and the types and amounts of any such insurance; and
(5) establish auditable procedures for
verifying compliance with this Subsection A of this section.
B. Unfair trade practices prohibited. In addition to the practices prohibited in Section 59A-16-1 et seq. NMSA 1978 and Section 57-12-1 et seq. NMSA 1978 and accompanying regulations, the following acts and practices are prohibited:
(1)
High pressure
tactics. Employing any method of marketing having the effect of or
tending to induce the purchase of insurance through force, fright, threat,
whether explicit or implied, or undue pressure to purchase or recommend the
purchase of insurance.
(2)
Cold lead advertising. Making use directly or indirectly of any
method of marketing which fails to disclose in a conspicuous manner that a
purpose of the method of marketing is solicitation of insurance and that
contact will be made by an insurance agent or insurance
company.
C. Use of terms. The terms "Medicare Supplement," "Medigap," "Medicare Wrap-Around" and words of similar import shall not be used unless the policy is issued in compliance with this regulation.
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