New Mexico Statutes Chapter 59A. Insurance Code § 59A-59A-5. Authorized health insurer reporting requirements

Current as of January 01, 2024 | Updated by Findlaw Staff

A. By May 1, 2025, and annually thereafter, each authorized health insurer shall submit data to the superintendent, in a form and manner prescribed by the superintendent, that includes:

(1) a list of the twenty-five most frequently prescribed prescription drug products;

(2) a list of the twenty-five most costly prescription drug products by total annual plan spending;

(3) a list of the twenty-five prescription drug products with the highest increase in total annual spending compared to the previous calendar year; and

(4) an evaluation on the effect that the cost of prescription drug products has on health care premiums.

B. Except for the superintendent's reporting requirements in Section 7 [59A-59A-7 NMSA 1978] of the Prescription Drug Price Transparency Act, the superintendent and a person acting on behalf of the superintendent, including staff and third-party contractors, shall keep confidential all of the information provided pursuant to this section, and the information shall not be subject to the requirements of the Inspection of Public Records Act [Chapter 14, Article 2 NMSA 1978]. The superintendent shall include in every contract for services related to the Prescription Drug Price Transparency Act a requirement that contractors and subcontractors do not disclose confidential information to any persons other than the superintendent or a person acting on behalf of the superintendent.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-59A-5. Authorized health insurer reporting requirements - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-59a-5/

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