Lovelace Health System has agreed to sell its insurance operation – with 108,000 members – to Blue Cross and Blue Shield of New Mexico for an undisclosed price. The deal is expected to close, assuming regulators approve, no sooner than year’s end.
Lovelace Women’s Hospital has been ranked third in the country for Modern Healthcare’s 100 Best Places to Work for 2013. This is the fifth year in a row that the hospital has been recognized by the health care industry publication.
Nearly 26,000 New Mexicans are having health plans terminated at the end of the year because the insurance policies fail to provide expanded benefits and other coverage mandated by a federal health care law, according to insurance industry officials.
State Insurance Superintendent John Franchini estimates most of those individual policyholders will pay an average of 35 percent more for new coverage, but will have plans with more health care benefits.