Bill > SB317

This bill makes several key changes: 1. It distributes a portion of the revenue from the health insurance premium surtax to a new "Health Care Affordability Fund" to be used to reduce health care premiums and cost-sharing for New Mexico residents purchasing coverage on the state's health insurance exchange, as well as small businesses and their employees purchasing coverage in the small group market. The fund can also be used to provide coverage for uninsured residents if the Affordable Care Act is repealed or reduced. 2. It prohibits the imposition of cost-sharing (such as copays and deductibles) for behavioral health services under certain health insurance plans, including those offered through the Health Care Purchasing Act, the New Mexico Insurance Code, Health Maintenance Organizations, and Nonprofit Health Care Plans. This elimination of cost-sharing is in effect until January 1, 2027. 3. It requires the Superintendent of Insurance to establish criteria to enhance premium and cost-sharing assistance for individuals and families purchasing qualified health plans on the state's insurance exchange, as well as develop a plan to extend health care coverage to uninsured residents who do not qualify for federal subsidies. 4. It requires the Superintendent and the Legislative Finance Committee to report annually on the effects of the elimination of behavioral health cost-sharing on costs and health outcomes.

Budget and Finance, Health and Social Services

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=317&year=21