The New Mexico State Legislature appropriated $15.4 million to the New Mexico Office of Superintendent of Insurance (OSI) to address medical malpractice insurance costs for individual providers and independent group practices. The appropriation was part of a supplemental appropriation package passed in 2023 that provided each legislator and Governor Michelle Lujan Grisham with targeted appropriations for their key priorities. Governor Lujan Grisham prioritized funding for this program in her supplemental appropriation request.

This one-time appropriation directs OSI to provide a premium subsidy for private medical malpractice insurance policies. OSI issued a data call to medical malpractice carriers to determine premiums written for independent providers and group practices in New Mexico. OSI used this data to determine a premium percentage reduction to apply to premiums for eligible providers. Bulletin 2024-006 creates the one-time Medical Malpractice Premium Reduction (MMPR), program eligibility, premium reduction percentages based on provider categories, the process for disbursing premium reductions, carrier reimbursement and reporting, the methodology for calculating carrier administrative cost offsets, and the timeline for disbursements and reporting.

MEDICAL MALPRATICE PREMIUM REDUCTION