Medicaid Forward would allow residents whose incomes are too high to qualify for Medicaid to instead purchase an affordable plan through the program. Medicaid is a robust, comprehensive program that already provides high-quality care to nearly 50% of our residents. Expanding this simple and trusted system will make healthcare less expensive for people of all backgrounds.
...Medicaid Forward is a good deal for New Mexico. New Mexico can raise its current Medicaid income limit and the federal government will still match nearly 73% of the costs. For the remaining costs, participants will pay for coverage on a sliding scale based on their income.
...Medicaid Forward would open Medicaid so every resident has access to affordable care. We envision a New Mexico where every person, regardless of their background or income, has the opportunity to live their healthiest life.
The annual report, as mandated by the 2021 New Mexico Statutes Chapter 59A, Article 23F, Section 59A-23F-10, and compiled jointly by beWellnm, New Mexico’s Health Insurance Exchange, and the New Mexico Office of the Superintendent of Insurance (NM OSI), offers a comprehensive analysis of various key aspects. These include the individual health insurance market, both on- and off-Exchange enrollment, small business enrollment, qualified health plan pricing, outreach and enrollment assistance activities, as well as strategies aimed at addressing the challenge of the remaining uninsured population in New Mexico.
Overview of the Individual Health Insurance Market
This one is particularly frustrating. In addition to the filings being listed at the federal Rate Review website, every individual & small group market carrier also has their filings listed via the SERFF databaseand via New Mexico's own internal, searchable rate filing database...and yet I still can't run a weighted average rate change for either market because almost none of the filings at any of these three databases includes the actual enrollment data (Presbyterian on the individual market is the exception).
As a result, I have to once again settle for unweighted averages, which come to +5.6% on the individual market and +7.7% for small group plans.
It turned out that I was correct about Oklahoma, but had jumped the gun slightly re. Nevada; the insurance commissioner had petitioned the court to put Friday into receivership, but hadn't actually done so yet.
Friday Health Plans, Inc., the parent company of Friday Health Plan of Colorado, ,Inc. (HMO), has announced that it will begin to wind down its business activities throughout the country, working in close conjunction with state regulators, including the Colorado Division of Insurance.
In recent months, it became apparent that the parent company would need to raise substantial capital to continue. Friday was ultimately unable to raise that capital and on June 1, Friday Health Plans, Inc. (Parent) stated publicly that they would begin to wind down.
A classic tax-season scam is back with a new twist. Clients in New Mexico have reported receiving calls from scammers posing as beWellnm representatives, trying to obtain private and secure information.
BeWellnm, New Mexico’s health insurance exchange, will never call and ask a customer to text or email your bank information, credit card or social security number.
“Customers who received insurance through the exchange will need a 1095-A form – Health Insurance Marketplace Statement – for their taxes. Scammers know this and think they can take advantage, but we are here to protect consumers and offer them free help with their 1095-A form,” said Bruce Gilbert, Chief Executive Officer of beWellnm.
BeWellnm will be providing customers who obtained insurance through the exchange at any point last year with their 1095-A form. You should expect to see if in the mail in the coming weeks. This form is very important and will be filed with your federal taxes to complete Form 8962: Premium Tax Credit.