ACA

Bill to establish Health Care Affordability Fund expected during legislative session
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A bill designed to lower insurance premiums for state residents on the New Mexico health care exchange is expected to be filed for the 2021 Legislature. The bill is a priority for Gov. Michelle Lujan Grisham and is still being drafted, so not all the details have been worked out. But Nicolas Cordova, an attorney with the New Mexico Center on Law and Poverty, said one of the benefits of the Health Care Affordability Fund is that it would encourage more individuals to enroll and that, in turn, could lead to insurance premiums dropping for residents who are on the exchange. The bill, if it becomes law, would apply a surtax on insurance companies of 2.75 percent. That would generate $110 million in net revenue for the state, Cordova said.