ALBUQUERQUE, N.M. (AP) — Consultants have outlined for New Mexico’s Democrat-led Legislature the financial consequences of adopting a state-administered universal health insurance program for all residents.
They say in a final report released Monday that such a system would improve affordability for low-income households. However, premiums for other families, employer contributions and payroll taxes likely would go up to pay for what could be a multibillion-dollar shortfall over the first five years.
The analysis also says the state’s uninsured rate would likely fall below 1% and that the use of health care services would likely increase as the vast majority of residents turn to public insurance.