N.M. Admin. Code § 6.50.3.8 - AUTHORIZATION TO PROCURE INSURANCE OR TO SELF-INSURE RISK-RELATED, EMPLOYEE BENEFIT AND DUE PROCESS REIMBURSEMENT COVERAGES
The authority is authorized to provide for risk-related exposures, employee benefit programs and due process reimbursement coverage in the following ways.
A. Obtain basic,
excess, reinsurance or retrospectively rated insurance policies for any
combination of risk-related or employee-benefit coverages on behalf of all
persons or entities authorized to participate in the authority's coverages in
compliance with the Procurement Code, Section 13-1-1 et seq. NMSA 1978, the
Health Care purchasing Act, Section
13-7-1
NMSA 1978, and the competitive sealed proposal process of Section
13-1-28
NMSA 1978.
B. Self-insure all or
any part of risk-related, employee benefit and due process reimbursement
coverages offered to persons or entities authorized to participate in the
authority's coverages.
C. Establish
pooling and participation arrangements to provide risk-related or
employee-benefit coverages on behalf of all persons or entities authorized to
participate in the authority's coverages.
D. Establish reasonable self-insured
retention or self-insured liability levels.
E. Establish reasonable deductibles, stop
loss, out of pocket, co-pays or other cost containment mechanisms.
F. Modify any basic, excess, reinsurance or
retrospectively rated insurance policies, pooling or participation agreements
or other insurance coverage.
G. Add
or delete one or more risks, one or more perils, one or more benefits or one or
more lines in any self- insurance, insurance contract, pooling or participation
agreement.
Notes
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