New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 19 - NON-ADMITTED OR SURPLUS LINES INSURANCE › Part 4 - MULTIPLE EMPLOYER WELFARE ARRANGEMENTS › Section 13.19.4.11 - APPLICATION PROCESS FOR MEWAS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Application requirements for registration generally.
All MEWAs
				shall submit an application for registration and receive approval from the
				superintendent before sale of any plans or products. All application materials
				shall be provided in the format specified by the superintendent on the office
				of superintendent of insurance website.
B.
Contents of application,
				generally.
An application for registration shall include the MEWA's most
				current M-l filing with the United States department of labor. Unless the
				information in the documents requested below is provided in the M-l filing, the
				MEWA must also file:
(1) a certified copy of
				the formative documents that establish the MEWA entity name and type under
				which the MEWA will operate, the MEWA's federal employer identification number
				(FEIN) and filings which demonstrate that the MEWA is authorized to do business
				in New Mexico;
(2) copies of all
				bylaws, operating agreements or similar documents that govern the control of
				the MEWA;
(3) the name, address,
				and telephone number for the contact for each association, group, trust,
				employer or member participating in the MEWA;
(4) the name, address, and telephone number
				of each officer, director, partner or trustee of the MEWA;
(5) a description of all sources of financing
				and revenue of the MEWA;
(6) the
				MEWA's current financial statements including audit reports, a balance sheet,
				income statement, cash flow statement and detailed listing of assets and debts,
				each developed according to generally accepted accounting principles;
(7) an affidavit from an officer, director,
				fiduciary or trustee of the MEWA attesting that, based on the affiant's
				informed belief, the MEWA is in compliance with all applicable provisions of
				ERISA;
(8) an affidavit from an
				officer, director, fiduciary or trustee of the MEWA attesting that, based on
				the affiant's informed belief, the MEWA is in compliance with all applicable
				provisions of the Insurance Code and applicable portions of the Affordable Care
				Act. Such affidavit does not absolve the MEWA from any rate or form filing
				requirements under 13.19.4.23 NMAC;
(9) an affidavit from an officer, director or
				trustee of the MEWA certifying that all association members and their employees
				shall be eligible for participation in the MEWA;
(10) a copy of any document executed by an
				employer or trust to become a member of the MEWA, including application for
				membership:
(11) a description of
				all membership requirements;
(12)
				the names and license numbers of any third-party benefit administrators
				administering health benefits offered by the MEWA;
(13) a copy of a binder or policy of stop
				loss coverage required by 13.19.4.19; and
(14) any additional information requested by
				the superintendent, including but not limited to any documents required by
				13.19.4.23 to establish compliance with 13.19.4.11 NMAC