The Health Care Consolidation and Transparency Act aims to enhance oversight of transactions involving hospitals and health care provider organizations in New Mexico, specifically focusing on acquisitions, mergers, and affiliations by health insurers. The Act establishes a structured process for notice and review, requiring parties to submit a notice of proposed transactions at least sixty days prior to the effective date. It introduces key definitions and mandates comprehensive reviews by the superintendent of insurance, with specific timelines for completion. The Act also emphasizes public transparency by requiring the posting of transaction notices and summaries in local media, allowing for public comments, and ensuring whistleblower protections.

Additionally, the bill introduces new provisions under the New Mexico Insurance Code, including the requirement for health care provider organizations to submit an organizational chart detailing their structure. Certain organizations are exempt from these requirements if they are controlled by another entity that submits the necessary information. The Act maintains the authority of the attorney general to protect consumers and competitive markets, ensures that New Mexico courts have jurisdiction over relevant transactions, and stipulates that any material changes to previously approved transactions must be reviewed under the new framework. The provisions of the Act are set to take effect on July 1, 2025.