By Dennis Domrzalski, Reporter
The New Mexico Public Regulation Commission said Wednesday it has chosen a Lovelace Health Plan policy as the benchmark for health insurance policies to be sold on the state’s health insurance exchange under the federal Affordable Care Act.
The decision means all other insurers who want to sell policies on the exchange when it begins operating in 2014 must meet or exceed what Lovelace offers in its plan, the PRC said in a news release.
The Lovelace plan was chosen from 11 policies Lovelace and other insurers submitted to the PRC’s Insurance Division for review, the release said.
According to the ACA, the benchmark plans, or Essential Health Benefits, must meet criteria in 10 areas, ranging from emergency services to prescription drugs, PRC spokesman Arthur Bishop said.
New Mexico is one of 10 states that have chosen benchmark EHB plans, the release said.