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.