I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
The Public Regulation Commission (PRC)’s Division of Insurance will hold a public hearing Wednesday in Santa Fe on Blue Cross and Blue Shield of New Mexico‘s controversial health insurance rate hike.
Blue Cross will be asked to justify why it needs to raise premiums by an average 21.3 percent on around 40,000 New Mexicans who pay for their own insurance. The increase was approved in April but then suspended pending Wednesday’s hearing.
The company had asked the state Supreme Court to halt the hearing, arguing that acting insurance superintendent Johnny Montoya lacked the authority to re-open a rate filing approved by predecessor Morris “Mo” Chavez.
The public meeting is scheduled for incoming state Superintendent of Insurance John Franchini‘s third day on the job.
Double-digit rate increases have been requested for most of the company’s 12 affected individual health insurance plans, including BlueDirect A, B and C plans, BlueChoice Plus, 20 and 30 plans, BlueEdge Individual HSA, BlueEdge 100 HDHP, Blue Transitions, New Mexico Major Medical, Number One and Conversion plans. The originally-proposed rate hikes on several of the plans were 29.5 percent.
An April settlement cut a previously Division staff-approved 24.6 percent rate hike to 21.3 percent, although an independent expert hired by the Attorney General’s office concluded the rate hike was not justified and was based partly on exaggerated losses.
Blue Cross Blue Shield NM has raised premiums every year since 2004, while accumulating $6.7 billion in reserves.
A power struggle between the semi-autonomous Division and PRC commissioners followed Chavez’s approval of the rate hike, with commissioners seeking increased control over the Division.
Some legislators have proposed removing the Division from the PRC.
The hearing will be held at 9 a.m. Wednesday, Aug. 25, at Apodaca Hall on the second floor of the PERA building, 1120 Paseo de Peralta in Santa Fe.
