NMPSIA was created by the NM Legislature in 1986 to serve as a purchasing agency for public school districts, post-secondary educational entities and charter Schools. Through NMPSIA, member schools are afforded the opportunity to offer quality employee benefit and risk coverages.
NMPSIA is governed by an 11 member Board of Directors. The NMPSIA Rules and Regulations provide the framework for the NMPSIA's day to day operations.
Because of the purchasing power of our large group, covering over 30,000 educational employees and their families, we are able to negotiate better premiums and better benefits than an individual school district. Also due to our size, our claims are more predictable and thus premium changes are not as erratic as they would be on a smaller group.
You and your employer share the cost for the medical, dental, vision, and disability plans. Your payroll deduction represents approximately one-third of the total cost to fund the plans.
Our medical plans are self-insured. This means NMPSIA is responsible for the design of the plan and the setting of contributions. We set the contribution rates to provide the necessary revenue to pay for the claims we all incur. When our claims exceed the contributions, the contribution rates have to go up to cover any deficit. Less than 10% of your contribution goes towards the medical plan administration (claims payment, customer service, provider networking, ID cards, booklets). The balance pays for the cost of our medical care and claim reserves as recommended by NMPSIA's actuaries.
NMPSIA currently provides benefit and risk coverage to all public school districts except Albuquerque Public Schools, all charter schools, and other educational entities. Not all participating employers provide all lines of coverage offered through the NMPSIA program.
Risk coverages include property insurance, liability insurance, workers'compensation, student catastrophic insurance, student accident insurance, boiler & machinery insurance, and underground storage tanks coverage.