SANTA FE, N.M. (WR) — A cooperative medical insurance supplier to 14,000 clients on New Mexico’s sponsored market will stop operations initially of 2021.

State insurance coverage regulators introduced Tuesday that New Mexico Well being Connections won’t be an possibility throughout the open enrollment interval that begins Nov. 1.

Individuals who lose their job-based insurance coverage because of the financial disaster linked to COVID-19 are anticipated to flock to each Medicaid insurance coverage and New Mexico’s insurance coverage change that gives subsidies to households with low and average incomes. 5 insurance coverage carriers are anticipated to take part in state change in 2021.

Well being Connections CEO Marlene Baca mentioned in an announcement that claims can be paid by way of the tip of the calendar yr by the co-op that was fashioned in 2012.

She mentioned the corporate’s board determined that future development projections weren’t sufficient to make sure profitable operations.

Greater than 40,000 individuals depend on New Mexico’s state-based medical insurance change for people and households.