Legislature Adjourns After Passing Health Insurance Bills
March 7, 2010 – The New Mexico Legislature adjourned its 30 day regular session on Feb. 18 after passing two health insurance bills regarding medical loss ratios (MLRs) and rating in the group and individual markets. Under HB 12, health insurers in the group market would be required to spend at least 85% of their premium revenue on medical costs (calculated based on a three year average). For individual market products, the Superintendent of Insurance is required to establish a level of spending for medical costs of at least 75% of premiums. Under SB 148, all health plans would be prohibited from using gender as a rating factor after Jan. 1, 2014. Both bills now await action by Governor Richardson (D). The Legislature failed to pass a budget for fiscal year 2010-2011 during the regular session, so the Governor called for a special session on March 1st to address budget issues.
Governor Reintroduces Package of Health Reform Bills
Feb. 5, 2010 – Governor Richardson has reintroduced a package of health reform bills that failed to pass the Legislature last year. The health reform "package" includes legislation that would require health insurers to spend at least 85% of premium revenue on medical costs (HB 12), revise the definition of small group to include groups of one or self-employed individuals (HB 32), and consolidate health plan purchasing for state and local government employees and retirees and school employees (SB 155). The New Mexico Legislature meets for only 30 days this year and is scheduled to adjourn on Feb. 18.
