This bill amends the existing laws regarding state employee health benefits, specifically focusing on the contribution percentages for group insurance. It establishes new contribution rates for state employees based on their annual salary, with the state covering a minimum of eighty percent of the insurance costs for employees earning less than thirty thousand dollars, and gradually decreasing for higher salary brackets. Additionally, the bill mandates that the Secretary of Health Care Authority can utilize funds from the Health Care Affordability Fund to reduce or eliminate premiums for certain government employees, thereby enhancing the affordability of health benefits for those in need.

Furthermore, the bill outlines the creation and administration of the Health Care Affordability Fund, which is intended to support various initiatives aimed at reducing health care costs for New Mexico residents, including state employees. The fund will cover a portion of health benefit contributions for employees who do not qualify for Medicaid and earn below a specified income threshold. It also includes provisions for annual evaluations and reporting to ensure the effectiveness of the fund and its initiatives. Overall, the bill aims to improve access to affordable health care for state employees and other residents of New Mexico.

Statutes affected:
introduced version: 10-7-4, 59A-23F-11
FC substitute: 10-7-4, 59A-23F-11
Final Version: 10-7-4, 59A-23F-11