Blue Cross and Blue Shield of New Mexico (BCBSNM) announced that it will take further action to support its members, customers, and communities during the COVID-19 public health emergency by providing approximately $4 million in relief to fully insured employer customers in the form of a premium credit.
The premium credits are the latest relief action BCBSNM has taken in response to the global health crisis. The purpose of these actions is to lessen the financial hardships many may be experiencing. These include:
- Adjustments made to initial 2021 individual and group rates to provide further financial relief for group plans, individuals, and their families — delivering more than $7 million in savings
- Extensions of the waivers of cost sharing for telehealth services, COVID-19 testing and treatment — delivering approximately $9 million in savings for members and their families
“Our focus is first and foremost on helping our fellow New Mexicans. We believe taking action by providing additional support and financial relief is the right thing to do,” said Janice Torrez, BCBSNM incoming president. “As part of our commitment, we are always seeking ways to support our communities during this unprecedented public health emergency.”
In addition to these actions in response to the COVID-19 public health emergency, BCBSNM recently issued rebates totaling nearly $2.5 million to individuals this fall who were eligible under the MLR rebate consumer protection process under the Affordable Care Act relating to their 2019 coverage.
There continues to be uncertainty concerning health care spending and the impact of deferred care for the remainder of the year. BCBSNM will continue to closely monitor the evolving health pandemic and health care claim trends to determine how best to support customers, communities, and health care delivery partners. The premium credit and other relief actions are intended to continue to assist members and businesses throughout New Mexico, to help expand access to care, and to offer members some relief during this difficult time.
For the latest information on BCBSNM’s response to the COVID-19 pandemic and other information and tips to stay healthy, please visit BCBSNM.com.