Albuquerque Business First

Insurance company leaving individual NM HIX market at end of year

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Blue Cross Blue Shield of New Mexico will not be offering individual plans on the New Mexico Health Insurance Exchange in 2016 after the Superintendent of Insurance rejected a large requested pay hike. Albuquerque Business First reported the news and it comes just weeks after the company requested approval for a premium rate increase. The insurance company had requested a 51.6 percent premium rate hike, but the Office of the Superintendent of Insurance rejected the proposal earlier this month. The move will impact 35,000 individuals who bought insurance from the company both directly and through the exchange. Those who have BCBSNM insurance plans from other plans will not be impacted.

health care reform

After health care reform, uninsured rate in NM continues to improve

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While New Mexico still is not among the leaders in lowest uninsured rate, the percentage of uninsured since the passage of health care reform legislation has dropped more than 7 percentage points. The numbers from Gallup come from a large nationwide poll that showed uninsured rates have fallen massively in recent years, to the point where five states now have rates under 5 percent. In New Mexico, 13.1 percent are still uninsured. This is compared to 20.2 percent in 2013, before the health care overhaul, known as the Affordable Care Act, became law. In other words, the uninsured rate has dropped 7.1 percentage points.