“Currently insurers in New Mexico can charge women up to 20 percent more than men for individual and small group health insurance plans. This is unacceptable…,” Richardson said Tuesday in a press release announcing that he had signed Senate Bill 148.
The bill, sponsored by Sen. Nancy Rodriguez, will eventually eliminate gender as a health insurance rating factor by creating a five percent annual phase out of the practice.
Rates charged on the basis of gender cannot exceed rates for other similarly situated persons in the age group by more than 15 percent in 2011, 10 percent in 2012, and 5 percent in 2013.
There are 37,000 women with individual insurance plans in New Mexico, said Giovanna Rossi Pressley, the executive director of the Governor’s Women’s Heath Advisory Council.
New Mexico will join eleven other states that already prohibit or restrict gender discrimination in the individual market.