Health insurer in New Mexico needs 80% premium increase as Obamacare collapse accelerates

 | D. Samuelson  06/28/2017 9:42 AM MDT
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Credit: Ron Cogswell -  Flickr

A little over two million people reside in the state of New Mexico. As reported by Healthinsurance.org, there has been a mere “54,653  people enrolled in coverage through the New Mexico exchange during the 2017 open enrollment period” for health insurance. The number of insurers “offering individual market plans statewide” are limited to only four, but, the happy marketeers of the collapsing Obamacare program somehow maneuver language to make everything sound cheery and bright.

For example, they conclude that having only four insurance exchanges for two  million people is not dismally inadequate, it’s actually described as more “robust than those in many other states.” And, if a New Mexico constituent is concerned about the impending 80 percent premium increases, well, there’s no need to worry your pretty little head about that. In fact, in the upside down world of Obamacare, that 80 percent increase is actually good news, because “New Mexico’s current premiums are well below the national average.” Well, that may be true, but a New Mexico Obamacare premium, which is $366 per month — before the subsidy kicks in — is still going up as much as 80 percent, isn’t it?  Those other 34 states using “federally facilitated exchanges” provide policies with an average monthly premium of $475 before the subsidy.  Aren’t most of those going up too? Of course.

ZeroHedge.com suggests that we look a little deeper to get the true trajectory of Obamacare price increases in New Mexico. Between 2013 and 2017,  the Obamacare premiums had already increased 100 percent for New Mexico residents. Adding the impending 80 percent increase in 2018 “would imply a 250 percent increase in just five years.” These rising prices continue to bring hardship to small businesses, families and the overall economy. The tentacles run deep and it’s been a long, tough process to overturn, although the intrepid President Trump remains hopeful in his comments reported by USnews.com:

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