ALBUQUERQUE, N.M. — New Mexicans shopping for health insurance through beWellnm can expect to spend a bit less money on insurance premiums in 2021.
The Office of the Superintendent of Insurance announced health insurance premiums for 2021 on Tuesday. The new numbers show that the average cost of premiums declined significantly in each of the Bronze, Silver and Gold plan categories across the state compared to 2020.
“Not only are rates decreasing, but New Mexico will have more health plans competing in the marketplace than ever before,” said New Mexico Superintendent of Insurance Russell Toal in a prepared statement.
OSI project manager Colin Baillio said 2015 was the last year the agency recorded a comparable decrease. Baillio attributed the decrease in part to two new insurers – Western Sky Community Care and Friday Health Plan – entering the market.