Recent Mexico Superintendent of Insurance Russell Toal announced that a latest initiative will reduce small business medical health insurance premiums by 10 percent starting July 1.
“Small businesses are the backbone of Recent Mexico’s economy,” Superintendent Toal said. “This premium relief comes at a critical moment in our state’s economic recovery. I applaud Governor Lujan Grisham and the Legislature for prioritizing assistance to small businesses.”
The Small Business Health Insurance Premium Relief Initiative, which is obtainable to businesses with 50 or fewer employees that provide medical health insurance that’s compliant with the Reasonably priced Care Act to their employees, was made possible by a bill passed throughout the 2021 legislative session that created a Health Care Affordability Fund.
“Providing healthcare is an incredibly useful gizmo in attracting and retaining employees to Recent Mexico’s small businesses, and I’m thrilled that we’re significantly cutting the prices for businesses to have the opportunity to supply this profit,” Gov. Michelle Lujan Grisham said.
Under the law, the Recent Mexico Office of Superintendent of Insurance (OSI) is charged with implementing programs to lower medical health insurance costs for people, families, and small businesses. This fall, OSI will launch a program to lower premiums and out-of-pocket costs for people who purchase medical health insurance coverage on beWellnm, the state’s Health Insurance Marketplace.
“We hope that OSI’s initiative will provide meaningful economic relief for small businesses and their employees,” said Rob Black, CEO of the Recent Mexico Chamber of Commerce. “With other business costs on the rise, a discount in health care premiums could be welcome news for small businesses across Recent Mexico.”
OSI held a series of informational sessions in regards to the Small Business Relief initiative throughout the month of May and can hold additional virtual information sessions from 12-1 p.m. and 5-6 p.m., June 28; from 12-1 p.m., July 1; and from 12-1 p.m. and 5-6 p.m. July 7. The agency invites the general public to attend. Click here to register.
For more information in regards to the initiative, visit OSI’s webpage.