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State suspends enrollment in pre-existing condition plan

The New Mexico Division of Insurance has suspended enrollment in a federally funded program that insures people with pre-existing conditions.

The suspension of enrollment in the Pre-Existing Conditions Insurance Plan was mandated by the U.S. Centers for Medicare and Medicaid Services and applies to the plans in all states.

"A recent federal budget report sent to state insurance regulators shows that of the $5 billion originally allocated to fund PCIPs nationwide, only about $2.36 billion is left for the last three quarters of 2013 — just enough to continue coverage for those already enrolled," the Division of Insurance said in a news release.

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Categories: Marketplace