SANTA FE– Gov. Michelle Lujan Grisham signed legislation creating an innovative Healthcare Affordability Fund on Thursday. New Mexico Together for Healthcare leaders and community advocates heralded it as a major leap that will increase access to healthcare for thousands of New Mexicans. The bill will make healthcare more affordable for New Mexicans and result in tens of thousands of uninsured residents gaining coverage.
“Too many New Mexicans struggle to get the care they need,” said Nicolas Cordova, an attorney with the New Mexico Center on Law and Poverty. “The Healthcare Affordability Fund is an investment in the future health of our state. Thanks to Gov. Michelle Lujan Grisham and the Legislature, New Mexico is at the forefront of efforts nationwide to bring down costs so that everyone can get the care they need and deserve.”
The Healthcare Affordability Fund, originally introduced by Rep. Debbie Armstrong, was included in SB 317, which was sponsored by Sen. Martin Hickey and signed by the governor on Thursday. SB 317 also eliminates patient cost sharing for behavioral health services.
The fund will generate more than $165 million annually through the state collecting a repealed federal fee on health insurance providers, and will use the funds to invest in expanded and improved coverage for uninsured and under-insured New Mexicans. Fee collection and planning would start in calendar year 2022 and affordability programs would be in place in 2023.
Tonya James, a mother from McKinley County who advocated for the affordability fund, says that healthcare affordability is critical for families like hers.
“My husband works full time at KFC and I’m a stay-at-home mom,” said James. “We don’t make enough to pay for health insurance, like so many other families.”
College student Genevieve Romero, another advocate for the bill, says she has “lost track of how many times” she has opted not to seek needed health care because of her concerns about how to pay for the care.
According to a 2019 survey conducted by NMT4HC, 90 percent of New Mexicans want the state to take action to make healthcare more affordable. Further, 44 percent of the uninsured say they don’t have coverage because the premiums are too high. And, 39 percent of New Mexicans skipped or refused a medical test recommended by a doctor because they couldn’t afford it.
“No one should have to choose between putting food on the table or going to the doctor,” said Dr. Anjali Taneja, executive director of Casa de Salud. “The Healthcare Affordability Fund will change and save lives in New Mexico, right now and for future generations. We appreciate Gov. Michelle Lujan Grisham’s leadership on reducing healthcare costs.”
