NM HB338

Extends the sunset date for the gross receipts tax deduction on copayments and deductibles paid to health care practitioners from July 1, 2028 to July 1, 2031

Expands the deduction to explicitly include coinsurance payments in addition to copayments and deductibles paid by insured patients for commercial contract services

Modifies the definition of "copayment" or "coinsurance" by removing the requirement that it be a "fixed dollar" amount, allowing for percentage-based cost-sharing arrangements

Applies to health care practitioners including physicians, dentists, nurses, psychologists, physical therapists, and other licensed providers when services are within their scope of practice

Effective date is July 1, 2026