New Mexico § 59A-54-14 Deductibles; coinsurance; maximum out-of-pocket

New Mexico Statutes

§ 59A-54-14 — Deductibles; coinsurance; maximum out-of-pocket

New Mexico·Ch. 59A Insurance Code·Art. 54 Medical Insurance Pool

payments.

A.Subject to the limitation provided in Subsection C of this section, a pool policy offered in accordance with the Medical Insurance Pool Act shall impose a deductible on a per-person calendar-year basis. Deductible plans of five hundred dollars ($500) and one thousand dollars ($1,000) shall initially be offered. The board may authorize deductibles in other amounts. The deductible shall be applied to the first five hundred dollars ($500) or one thousand dollars ($1,000) of eligible expenses incurred by the covered person.

B.Subject to the limitations provided in Subsection C of this section, a mandatory coinsurance requirement shall be imposed at the rate determined by the board.

C.The maximum aggregate out-of-pocket payments for eligible expenses by the insured shall be deter

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payments. A. Subject to the limitation provided in Subsection C of this section, a pool policy offered in accordance with the Medical Insurance Pool Act shall impose a deductible on a per-person calendar-year basis. Deductible plans of five hundred dollars ($500) and one thousand dollars ($1,000) shall initially be offered. The board may authorize deductibles in other amounts. The deductible shall be applied to the first five hundred dollars ($500) or one thousand dollars ($1,000) of eligible expenses incurred by the covered person. B. Subject to the limitations provided in Subsection C of this section, a mandatory coinsurance requirement shall be imposed at the rate determined by the board. C. The maximum aggregate out-of-pocket payments for eligible expenses by the insured shall be determined by the board.

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