New Mexico provides online tool for insurance shoppers

SANTA FE, N.M. (AP) — New Mexico insurance regulators are creating an online shopping tool to help individuals compare 2018 health care plans amid shifting federal subsidies. The Office of the Superintendent of Insurance on Wednesday unveiled the comparison tool for pricing and coverage. Premiums for mid-level insurance coverage on New Mexico's federally subsidized health exchange are increasing by an average of about 40 percent for 2018. The record-setting increase is partly a result of President Donald Trump's decision to pull the plug on federal payments that reimburse insurers for reduced copays and deductibles they're required to provide to people of modest means. New Mexico's online tool can contrast on- and off-market plans. Consumers eligible for income-based tax credits will be protected from rising premiums. Those who pay full-cost confront double-digit premium increases.