Bill > SB443

This bill aims to eliminate cost sharing for cholesterol-lowering drugs across various types of health insurance plans in New Mexico, including group health coverage, individual and group health insurance policies, health maintenance organization (HMO) contracts, and nonprofit health care plans. The bill defines "cost sharing" broadly as any financial obligation beyond premiums, such as copayments, coinsurance, or deductibles that patients might typically pay when receiving prescription medications. By prohibiting these out-of-pocket expenses specifically for cholesterol-lowering drugs, the legislation seeks to make these important medications more accessible and affordable for patients. The bill will apply to all health plans that are offered, issued, or renewed in New Mexico, ensuring comprehensive coverage across different types of health insurance. The provisions will take effect on January 1, 2026, giving insurance providers time to adjust their policies and systems to comply with the new requirements. This approach is designed to reduce financial barriers to accessing cholesterol-lowering medications, which can be critical for managing cardiovascular health and preventing potential heart-related complications.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=443&year=25