summary
Introduced
01/29/2020
01/29/2020
In Committee
02/12/2020
02/12/2020
Crossed Over
02/17/2020
02/17/2020
Passed
Dead
02/20/2020
02/20/2020
Introduced Session
2020 Regular Session
Bill Summary
AN ACT RELATING TO HEALTH INSURANCE; INCREASING THE HEALTH INSURANCE PREMIUM SURTAX; DISTRIBUTING A PORTION OF THE REVENUE FROM THE INCREASE TO THE SURTAX TO A NEW HEALTH CARE AFFORDABILITY FUND; CREATING THE HEALTH CARE AFFORDABILITY FUND TO BE USED TO REDUCE THE COST OF HEALTH CARE COVERAGE FOR NEW MEXICO RESIDENTS; REQUIRING THE HUMAN SERVICES DEPARTMENT TO REPORT ON EXPENDITURES FROM THE FUND; REQUIRING THE HUMAN SERVICES DEPARTMENT TO CREATE A PLAN WITH RECOMMENDATIONS TO THE LEGISLATIVE HEALTH AND HUMAN SERVICES COMMITTEE ON EXPENDITURES FROM THE HEALTH CARE AFFORDABILITY FUND.
AI Summary
This bill increases the health insurance premium surtax from 1% to 3.25% and distributes 55% of the revenue from the increased surtax to a new Health Care Affordability Fund. The purpose of the fund is to provide initiatives to reduce the cost of health care coverage for New Mexico residents, such as the costs of premiums and cost-sharing for health plans through the New Mexico health insurance exchange and coverage programs through the Human Services Department. The Human Services Department is required to report annually on the expenditures from the fund and to create a plan with recommendations for using the fund to assist New Mexicans with the cost of health care coverage.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (3)
Last Action
Action Postponed Indefinitely (on 02/17/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=278&year=20 |
| BillText | https://www.nmlegis.gov/Sessions/20%20Regular/bills/house/HB0278.pdf |
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