The board of directors voted to continue serving members through the end of 2020. However, members will have to choose a new health insurer for the 2021 plan year.
“It is with deep sadness that based on challenging market conditions, the board made a painful decision to wind down operations of New Mexico Health Connections at the end of this year,” Marlene Baca, CEO and president of New Mexico Health Connections, said in a prepared statement. “Rather than spending resources on next year’s uncertain market, we would rather make sure we protect our current members.”
More articles on payers:
Fraudulent coding led CMS to overpay Cigna $1.4B, Justice Department says
Lawmakers to probe health insurer profits
5 payers that made $1B+ in Q2
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.