NEW MEXICO ANNOUNCES RATES FOR 2027 SMALL GROUP HEALTH INSURANCE MARKET

Santa Fe, NM – The New Mexico Office of Superintendent of Insurance (OSI) has approved 2027 health insurance premium rates for the small group health insurance market. As of March 2026, over 31,000 New Mexicans were enrolled in a small group plan. The average increase across small group plans is 19.8%. These rates take effect on January 1, 2027.

The carriers offering small group coverage in New Mexico in 2027 are:

• Blue Cross Blue Shield of New Mexico (HealthCare Service Corporation)
• Presbyterian Health Plan
• Presbyterian Insurance Company
• UnitedHealthcare of New Mexico
• UnitedHealthcare Insurance Company

Key Factors Driving the Rate Increases

The primary factors that contributed to the 2027 increases are:

• Claims Experience – Higher than expected 2025 New Mexico claims experience,which is the foundation for the 2027 rate development.
• Cost Trend – Higher utilization and inflation impacted healthcare costs services,which impacts medical services and pharmaceutical costs nationwide.
• Risk Pool Changes – Nationwide, businesses with healthier employees are opting for alternative health coverage not under the Affordable Care Act (ACA). This results ina smaller and less healthy small group ACA risk pool.

Final approved rates will be posted on the OSI website. To view the carrier rate sheets and rate increase specifics, visit the Office of Superintendent of Insurance website here.

The Rate Review Process Conducted by OSI

The OSI rate review process focuses on approving rates for health insurance plans that are actuarially sound, not excessive, inadequate, or unfairly discriminatory and ensuring health insurance rates comply with all state and federal laws.

For more information, visit the Office of Superintendent of Insurance website at https://osi.state.nm.us/en/.

About the Office of Superintendent of Insurance

The Office of Superintendent of Insurance (OSI) is New Mexico’s regulatory agency responsible for overseeing a wide range of insurance products, including private health and life insurance, auto, home, business, and title insurance. OSI regulates private health plans in the individual, small group, and large group markets, ensuring that premium rates are fair, companies are financially sound, and health care insurance coverage is reliable. While OSI does not have authority over self-funded health plans, where an employer assumes the financial responsibility for paying employee health care claims, Medicaid, Medicare, or TRICARE, OSI plays a vital role in protecting consumers by reviewing premium rates, monitoring insurance company conduct, and licensing producers (formerly known as insurance brokers and agents).

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