63,000 New Mexicans To Transition Health Plans Under ACA
Under the Affordable Care Act, around 63,000 New Mexicans will need to buy new health insurance policies by the end of the year. Those plans could cost more and cover more.
Come Jan. 1, many health plans offered by insurance companies will be non-compliant with new federal standards. For instance, if the plan doesn't offer mental health services or maternity care, it's non-compliant.
That means 23,000 New Mexicans who get their insurance through Presbyterian Healthcare Services will have to transition to other plans, while 27,000 people insured through the University of New Mexico's health care assistance program will be moved to the state's expanded Medicaid coverage roles, or plans offered on the health insurance exchange.
It's estimated that around 63,000 people will need to buy new insurance plans in New Mexico. However, private providers say those needing to transition will be automatically rolled into new plans if no action is taken.
It's expected that New Mexicans buying insurance on their own will be paying anywhere between 146 percent and 160 percent more for health care when the ACA is fully rolled out. However, people who make under 400 percent of the federal poverty level will receive tax subsidies to help pay for the increase.
In light of health insurance cancellation letters going out across the nation, federal officials continue to face questions over President Barack Obama's repeated line, "If you like your health care plan, you'll be able to keep your health care plan, period."