updated Thu June 13, 2013
Reporter-Albuquerque Business First
The board of the New Mexico Health Insurance Exchange voted Friday to temporarily become a hybrid state/federal exchange, with the state enrolling businesses and the federal exchange enrolling individuals.
Board members agree that the state didn’t have time to do both by the Oct. 1 deadline.
Newly named exchange interim CEO Mike Nunez told board members the plan is for the state to begin enrolling individuals beginning in October 2014.
The failure of the state to be able to enroll individuals on its own exchange by Oct. 1 comes with a price. The federal government will impose a 3.5 percent surcharge for policies sold through its exchange. That cost will most likely be borne by consumers, experts have said.