Stop loss carriers are likely to exit the New Mexico market this year leaving self-insured medical plans without coverage.
New Mexico Superintendent of Insurance issued Bulletin # 2015-005 on February 18, 2015 announcing that stop loss insurance must now comply with state and federal MLR calculations. Unlike many other states, New Mexico, through statute, has defined stop loss insurance as health insurance.
We are told by a TPA active in New Mexico that their stop loss carriers will pull out of the state upon renewal/s due to this new state government mandate, leaving self-insured plans without coverage. See: City of Santa Fe – In A Boat Without A Paddle?