New Mexico to establish new insurance regulation structure

New Mexico health Insurance Regulation Structure

New Mexico aims for new regulatory structure for the insurance industry The New Mexico government is preparing to enroll tens of thousands of residents into new health insurance plans and this has spurred state lawmakers to make changes to regulations that oversee the insurance market. Earlier this month, New Mexico voters approved a change to the state’s constitution. According to the change, insurance companies will no longer be regulated by the Public Regulation Commission. Next July, these companies will fall under the regulatory authority of the Office of the Superintendent…

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Health insurance rates for workers in New Mexico are on their way up

Health Insurance rate increases

Premiums may increase by as much as 15 percent for state government employees. Employees of the government of New Mexico may be facing health insurance premiums increases by as much as 15 percent as a result of rising medical care costs. This is the estimate made for those covered by the most popular plan. The increase will bring about an average annual rise of $133 for a single worker who makes $45,000. For family coverage for a worker who makes the same amount of money, the average annual increase will…

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New Mexico employees to see rise in health insurance premiums

Governor Susana Martinez

Governor proposes hike in health insurance premiums New Mexico workers may be seeing their health insurance premiums spike next year if a new proposal from Governor Susana Martinez wins favor with lawmakers. The proposal aims to increase the rates for worker’s health insurance plans by 15% in an effort to avoid the complete bankruptcy of the state’s health insurance fund. The fund is currently scheduled to run out of money in the next budget year, but higher premiums are expected to remedy the issue handily. State employees will see an…

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New Mexico to increase reviews of insurance rates

According to state officials, following the questioning of the health insurance company quality oversights last year in New Mexico, that state is now concentrating on boosting the reviews to the requests for rate hikes by pumping $3 million in grant money into the effort. Furthermore, an ombudsman has been employed at the Public Regulation Commission, by the state insurance regulators in order to help consumers to better understand the often complicated health insurance ecosystem, using an additional federal grant of over $220,000. Moreover, deputy superintendent of insurance, Craig Dunbar, said…

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Almost 20 percent of Californians don’t have health insurance

New statistics released by the U.S. Census have shown that many Californians are going without health insurance, as almost one in every five did not have this coverage within the last three years. This is one of the highest rates of uninsured individuals in the country. According to the census, from 2008 through 2010, 18.9 percent of the residents of California – nearly 7 million people – did not have any form of healthcare coverage. The same census showed that the national average during that same period was 15.8 percent.…

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Massachusetts and Vermont residents pay the highest individual health rates

A recent analysis has shown that in 2010, the most expensive individual health rates in the country were in Massachusetts and Vermont, with premiums up to and higher than $400 per month per person, which is about twice the average of the country. The information was collected by the Kaiser Family Foundation, which drew the data from the insurance company filings to the National Association of Insurance Commissioners and discovered a significant discrepancy in the rates charged from one state to the next. The researchers are referring to their analysis…

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