Premiums for Small business will be reduced by 10%
Beginning July 1, 2022, premiums for small businesses will be reduced by 10%. This reduction is provided by New Mexico’s Small Business Health Insurance Premium Relief Initiative. The 10% reductin will last through the rest of 2022 and is expected to continue in 2023. To learn more about the initiative, please visit OSI’s webpage at https://bit.ly/381OiBI.
Participating Health Plans sold on New Mexico’s Marketplace for small businesses with 50 or fewer full-time equivalent employees:
- Presbyterian Health Plan
- Presbyterian Insurance Group
- True Health New Mexico (no longer an option for new enrollments due to exiting the Market in 2023)
Businesses that are enrolled on beWellnm Small Business (SHOP) don’t have to take action to secure the 10% reduction for all eligible plans during 2022. Business owners will see the savings from participating health plans on July invoices through December 2022. Click on OSI FAQ for Small Business to learn more.
A new premium relief program will begin in 2023, and insurers will communicate any changes to small businesses in advance.
We make it easy to enroll in small business coverage that fits your budget and employees’ needs.*
*Small business owners can start a plan anytime throughout the year.