The Legislative Finance Committee released its budget recommendations for the upcoming session last week and it includes a provision to help lower health premiums for educators around the state.
The LFC t has proposed spending just over $11 billion from the state’s general fund, a 2.5%increase from last year. That includes an average one percent salary increase for state, higher education and public school employees, at a total cost of $62.7 million.
In addition, the committee is asking for $73.2 million to increase the state’s share of health care premiums for public school employees. That would lower the out-of-pocket health care costs for educators.
LFC Chair Rep. Nathan Small (D-Las Cruces) said if passed, this would be a step forward that the state has not taken before.
“That’s a huge commitment that the state – that we're making – that will make greater take home pay for educators, lower out-of-pocket health care costs for them and their families,” he said.
Gov. Michelle Lujan Grisham is recommending a budget that’s about $230 million higher than the LFC’s. It includes $81.1 million to reduce health care premiums for New Mexicans who purchase plans through the state exchange.
The primary purpose of this 30-day session is to pass the budget and the two entities will continue to negotiate until they reach a deal.
The legislative session begins on January 20th.
Support for this coverage comes from the Thornburg Foundation.
