NEWS RELEASE—June 21, 2013
CONTACT:
Barbara K. Webber, Executive Director, Health Action New Mexico
Mobile: (505) 508-6531
New Mexico Releases Proposed Rates for Health Plans on the NM New Marketplace
Bernalillo, N.M. – Yesterday, the New Mexico Division of Insurance released the proposed rates for health insurance premiums to be sold on the newly established New Mexico Health Insurance Marketplace for small business and individuals. Enrollment for this new marketplace begins in October, 2013.
Five carriers are offering plans on the exchange, including two new insurance groups. These plans will vary in premium costs according to the out-of-pocket percentage chosen by the consumer. While plans can charge more for geography, tobacco use and age, they can no longer charge more or exclude consumers based on their health history or gender. The age difference is now limited to three times as much for older consumers versus young adults. In the past it was sometimes more than five times as much for age differences.
The premiums prices do not include the subsidies that will be available to people applying as individuals or up to 50 percent tax credits that will be available to small businesses. The New Mexico Superintendent has stated the premiums are about five percent higher than current prices. However this does not take into consideration the many people in New Mexico who have not been able to apply due to health conditions or whose health conditions have kept them in plans with spiraling costs.
Consumers are encouraged to review the rates at the Division’s Rate Review website: http://nmhealthratereview.com/
Public comments on the rates can be made for 30 days. Also on the website consumers can ask questions directly to the Division of Insurance about the proposed rates, etc.
“This is an exciting step forward for New Mexico and, like other states who have posted their proposed rates for their new marketplaces, the opportunity for insurance carriers to gain more members. The reality of increased competition has kept rates much lower than many predicted,” said Barbara K. Webber, Executive Director of Health Action New Mexico. “In New Mexico there are 200,000 uninsured persons who can benefit from the Health Insurance Marketplace. This is especially important for those with health conditions and in rural markets, where having more choices is crucial.”
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Health Action New Mexico is a consumer advocacy non-profit organization that focuses on bringing all New Mexico communities access to quality healthcare services. For more information, visit www.healthactionnm.org.