Bill > SB21

This bill establishes an annual open enrollment period for individuals holding Medicare supplement policies, which are plans designed to cover expenses not fully reimbursed by Medicare, the federal health insurance program for people aged 65 and older. Specifically, the bill mandates that insurance companies and other entities that issue these policies (referred to as "issuers") must offer this open enrollment period to "eligible policyholders," defined as Medicare beneficiaries aged 65 or older. During this period, which begins on the first day of an eligible policyholder's birthday month and lasts for at least sixty days, individuals can purchase any Medicare supplement policy of equal or lesser value to their current one without the issuer being able to deny coverage, delay its effectiveness, or discriminate based on health status or medical conditions. Furthermore, any new policy obtained during this open enrollment will not have exclusions for pre-existing conditions that were covered by the previous policy. Issuers are required to notify eligible policyholders at least thirty days before their open enrollment period begins, informing them of the dates, their rights, and any changes to their current policy or premiums, with the notification content needing approval from the superintendent of insurance.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=21&year=26