New Mexico State Flexibility to Stabilize the Market Grant Award

Grant Application Summary

New Mexico Grantee: New Mexico Office of Superintendent of Insurance

Award Date: August 20, 2018

Total Award: $279,843.03

Baseline Award: $274,344.83

Workload Award: $5,498.20

Section 2702 - In addition to ensuring health insurance issuers are offering approved products for purchase, the New Mexico Office of Superintendent of Insurance will research and develop a data call strategy for conducting a market scan of their health insurance markets. Based on the analysis, New Mexico will develop recommendations on regulatory and legislative changes. New Mexico will also develop templates to ensure compliance in future filings.

Section 2707 - The New Mexico Office of Superintendent of Insurance will analyze the current Essential Health Benefits (EHB) benchmark plan and identify gaps in compliance. Based on the analysis, New Mexico will evaluate options for a new EHB plan or supplement to the current plan. Evaluation will include an actuarial analysis of the impact of premium cost and affordability of proposed EHB benchmark plans or adjustments.