Bill > SB21

This bill requires insurance companies that offer Medicare supplement policies, which are plans designed to help cover costs not paid by Medicare, to provide an annual open enrollment period for eligible policyholders. An eligible policyholder is defined as someone 65 or older who is covered by Medicare and a Medicare supplement policy. This open enrollment period will begin on the first day of the policyholder's birthday month and last for at least 60 days, during which time they can purchase any Medicare supplement policy of equal or lesser value to their current one. During this period, insurers must guarantee the issuance of any policy offered in the state and cannot deny, delay, condition, or discriminate in pricing based on the policyholder's health status or medical history. Any new policy purchased during this open enrollment will not have exclusions for pre-existing conditions that were covered by their previous policy. Insurers must also notify eligible policyholders at least 30 days, but no more than 60 days, before their open enrollment period begins, informing them of the enrollment dates, their rights, and any changes to their current policy or premiums. The notification itself must be approved by the superintendent of insurance. The provisions of this act will take effect on January 1, 2027.

Health and Social Services

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