Health Care Choices and Premiums: What’s Going on in New Mexico

COMMENTARY Health Care Reform

Health Care Choices and Premiums: What’s Going on in New Mexico

Jul 19, 2018 1 min read

  • Over the first three years of Obamacare, per capita monthly premiums in New Mexico increased by 69%, from $190 in 2013 to $320 in 2016.
  • Over the first five years of Obamacare, 33% more insurers offered Exchange coverage in New Mexico, from 3 in 2013 to 4 in 2018. The numbers increased as a result of the creation of an Obamacare-funded co-op insurer.
  • 2019 Rate Request: Molina is asking for a an average rate reduction of 0.4 percent, while the other three insurers offering exchange coverage In New Mexico are asking for rate increases of: 9.2 percent for Blue Cross and Blue Shield of NM; 14.54 percent for New Mexico Health Connections, and; 14.9 percent for CHRISTUS Health Plan. In addition, Presbyterian Health plan currently sells individual market coverage off the exchange, but the company is asking for an average rate increase of 18.5 percent next year in anticipation of resuming offering coverage on the exchange (where enrollees have higher claims costs).
  • 2019 Rate Finalized: Finalized by mid-October

Health care remains a major focus of the public discussion as premium prices rise and choices dwindle. Throughout the summer and into the fall, Obamacare insurers will announce decisions about the prices they want to charge and plans they want to offer next year, submitting them to regulators for review and approval. Research shows prices have been rising steadily since Obamacare was first implemented, more than doubling in some places because of its failed policies and regulations.

The best way to provide relief for Americans struggling under these heavy burdens is to replace Obamacare with free-market solutions that put patients and doctors—not federal bureaucrats—in charge of health care decisions and dollars.

The three states that have begun to provide this kind of relief – after being granted federal waivers from Obamacare - are seeing rate reductions. Congress should go farther and make it easy for states to take these actions.NM

    This piece was authored by Ed Haislmaier.

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