AN ACT
RELATING TO PRESCRIPTION DRUGS; ALLOWING THE MEDICAL
INSURANCE POOL TO CREATE A PRESCRIPTION DRUG PROGRAM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. A new section of the Medical Insurance Pool
Act is enacted to read:
"PRESCRIPTION DRUG
PROGRAM--COST-SHARING.--
A. The board may establish a prescription drug
program, in whole or in part, including a pilot or phase-in program, to offer
selected eligible persons the ability to purchase prescription drugs. The board may establish varying levels of
eligibility and cost-sharing criteria as needed for selected eligible persons
and, if established, shall ensure that cost-containment mechanisms are included
in the program.
B. The board may establish the cost-sharing
amounts payable by a person enrolled in the prescription drug program,
including the premium, deductible, coinsurance, co-payment and other
out-of-pocket expenses.
C. If the board establishes a prescription drug
program, the board shall establish the assessments pursuant to Section
59A-54-10 NMSA 1978.
D. If the board establishes a prescription drug
program, the assessment for a pool member shall be determined in the same
manner as provided in this section provided that a pool member shall be allowed
a fifty percent credit for the prescription drug program assessment on the
premium tax return for that member.
E. The board may issue a pool prescription drug
program benefit policy for a person who is over the age of sixty-five and
unable to purchase or is ineligible for a similar prescription drug program. The board may issue a pool prescription drug
program benefit policy for a person who is eligible for a state-funded or
state-operated low-income pharmacy benefit program.
F. If the board establishes a prescription drug
program, the board shall cooperate with other state and federal prescription
drug initiatives."