New Mexico is working to create its own online insurance exchange before the next open enrollment period of the Affordable Care Act begins later this year. If the federal government doesn’t approve the state’s site, New Mexicans will be using the federal exchange for another year.
It's estimated that 7.4 million people in the southwest will be buying insurance on their own under the Affordable Care Act. Approximately 60 percent of those purchasers will be eligible for help with their insurance bill in the form of tax credits next year.
States aiming to run their own health insurance exchanges, will be in need of federal grants to get those exchanges launched, and are facing a deadline today. New Mexico's application is in, but there's still a question of whether or not the exchange will be run by the state, federal government, or both.
New Mexico's federal grant request totals about $20-million dollars, and will be used for marketing, public relations, and outreach. With much of the states population living in rural areas, that outreach will be critical to the exchanges survival.