New Mexico’s State Insurance Superintendent rejected an insurer’s request to raise insurance premiums by more than 51.6 percent on individual health care plans in 2016. The request was denied after the company failed to provide sufficient evidence to justify the increase. Other companies received modest increases, while one insurer lowered premiums by two percent. The insurer has 30 days to request a hearing on the approved rate hike. If an agreement cannot be reached, the insurer signaled it may opt out of selling plans in the state’s health exchange during the upcoming enrollment period. The cost of health insurance continues to place significant burdens on many Americans who struggle to afford the cost of care. Aimed Alliance supports the efforts of New Mexico state insurance regulators in holding insurers accountable and protecting patient access. To read the full article on the situation in New Mexico, click here.
Last Updated on May 7, 2020 by Aimed Alliance
