N.M. ready to weather insurance changes, officials say
Health care premiums for the four companies that sell policies on the healthcare.gov site won't be made final until the end of the day on Friday, according to state Superintendent of Insurance
But rates charged for individual insurance on the exchange typically constitute the most volatile insurance market. Most state residents are covered in group plans or through a retirement program, and any changes in those premiums are based on the cost of health care and prescription medications, as well as the relative health and well being of those covered by the plan.
Franchini said the state continues to have four insurance providers offering plans on the healthcare.gov exchange for 2018 --
"I'm just glad we still have four companies writing plans throughout the state," he said. "In essence,
"
That instability comes as the Republican White House and the
Franchini said that uncertainty has already increased rates here as insurers are asking for a cushion against possible changes down the road. "We have to accept it until this gets stabilized," Franchini said.
He said the increase for the Christus Health Plan is set to be the largest for the coming year, but it doesn't have as many customers as the two largest plans marketed on the insurance exchange. Of the 54,600 individuals who purchased a plan on the exchange this year, 46,222 -- about 85 percent -- are covered by
"Typically, if you weigh the increases the average for most people is 17, 18, 20 percent," Franchini said.
Another big change will affect the time period consumers have to shop for new insurance on the healthcare.gov website.
The open enrollment period for 2018 insurance coverage starts
But Franchini and
Gardner said her office is planning for what she calls an enrollment sprint starting
That means the call-in assistance and the walk-in centers will have extended hours, from
For the past few years the number of New Mexicans who have purchased plans on the exchange has been between 50,000 to 54,000 -- and that might be less in 2018 due to a stronger job market. She said consumers now understand the exchange, even which insurer they prefer over others.
"We're at the point we've enrolled the bulk of the people we can enroll, " she said. "As we move forward we need to increase out person-to-person outreach -- that's the beginning of a trend you will see on our part over the next few years."
A a new report by the
Franchini said his staff is preparing to continue that trend with trips around the state to answer any questions about health insurance and the coming enrollment season. He hopes all the insurance companies will join him as they and staffers from bewellnm.com host presentations during what will be a six-week blitz.
"We hope to offset the shorter enrollment period with a road show to go to every major city in
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