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New Mexico Small Business Health Insurance

Boasting a diverse cultural community and plenty of incentives and tax benefits for the small business, New Mexico is putting itself in the forefront of a new business age, one in which businesses that employ under 500 people can legitimately compete with large corporations.

New Mexico small business owners are already competing with larger companies in profit return. In 2001, the small business proprietors' income was $3.3 billion, an increase of almost 11% from 2000. With this money, small employers invested in their workers by providing $2,768 million in single coverage employer contributions in 2003 to provide their employees with health insurance. While there are still many small business employees without insurance, the advent of Health Savings Accounts and the hard work of insurance carriers are bring insurance to the people of New Mexico, in accordance with the state's insurance regulations.

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Featured New Mexico Small Business Health Insurance Providers

If you are looking for information on Individual or Family Plans in New Mexico, products are available from the following:

• American Medical Security Life Insurance Company
  
  
• BlueCross BlueShield of New Mexico
  
  
• Celtic Insurance Company
  

New Mexico’s Small Business Health Insurance Regulations

• Guaranteed issue and renewability is in effect; insurance carriers must offer employers of 2-50 workers the same health plans they offer other small businesses, and cannot cancel a plan due to the health status of a group member. Small groups in the New Mexico Insurance Alliance cannot impose minimum contribution requirements.
  
  
• Small employers and self-employed workers buying at least employee plus one coverage can obtain health insurance through the New Mexico Insurance Alliance.
  
  
• Insurance carriers covering small businesses can vary group premiums due to age, occupation, smoking status and gender, but only within limits.
  
  
• The self-employed worker with no employees cannot enroll in a group plan. They are eligible, however, to deduct between 70-90% of their individual policy premiums on their tax return.

Request a free online quote for more information on Small Business solutions in New Mexico >>