NM HM52

Office of Superintendent of Insurance, in consultation with the Health Care Authority, requested to create a health insurance premium affordability study group to examine rising premiums and cost drivers in New Mexico's fully insured individual and small group markets

Study group membership would include four representatives each from small employers/working families, the business community, and the health insurance industry, plus the superintendent of insurance and CEO of the New Mexico health insurance exchange

Group would study primary premium cost drivers including health care claims costs, prescription drug costs, administrative expenses, and state-imposed taxes, fees, and assessments, with comparisons to surrounding and peer states

Recommendations would address options to improve affordability, tools to help legislators evaluate impacts of proposed statutory changes on premiums and out-of-pocket costs, and improving transparency for consumers and small employers

Written report of findings and recommendations due to the legislative finance committee and legislative health and human services committee by October 1, 2026