New Mexico tax on health insurance to subsidize exchange costs
Posted On: Sep. 27, 2021 9:58 AM CSTHealth insurance will be substantially less expensive for consumers on New Mexico’s health insurance exchange through a combination of federal pandemic relief, a growing pool of subscribers and expected proceeds from a new state tax, according to state insurance regulators, reports the Albuquerque Journal. State lawmakers this year approved a tax increase on private health insurance premiums, starting Jan. 1, 2022, that will help underwrite health-exchange insurance offerings for low- and mid-income individuals along with employees at small businesses, starting in 2023.