ALBUQUERQUE, N.M. (AP) — Lovelace Health Plan has been removed from the New Mexico small business insurance exchange and from the federal individual exchange.
New Mexico Superintendent of Insurance John Franchini says the health plan [auth] was taken off the exchange Dec. 19 and off the federal exchange Dec. 21.
The health plan is being sold to Blue Cross and Blue Shield of New Mexico. The sale is expected to be approved by federal regulators by year’s end.
Franchini was in Washington, D.C., last week to urge federal officials to agree to take LHP off the exchanges pending the sale to Blue Cross.
Albuquerque Business First reported Monday that Franchini wanted Lovelace off the exchange because its policies would disappear after the sale and he didn’t want consumers to be confused by its presence.