Tech Overhauling Employee Health Insurance
SOCORRO, N.M. October 15, 2012 – New Mexico Tech administrators will propose new health insurance programs for its employees at the Regents meeting Friday, Oct. 19. Health care costs are continually on the rise and the increased cost of maintaining a health insurance program at New Mexico Tech has forced the institute to modify plans in order to remain solvent. Three new plans were developed as a result of these increasing medical costs. The health insurance program in its current form is no longer feasible.
The three new plan options are all PPO Plans that all have identical health coverage but vary in the out-of-pocket costs and the deductibles paid by employees. The plans provide all the health coverage provided under the current plans and have added some new areas of coverage including acupuncture, family counseling, infertility diagnostics and hearing aids for children/adolescents. The health care plans will also include dental and vision coverage. A major concern was to minimize premium increases as much as possible in order to maintain affordable premiums for employees.
Tech will be hosting its Annual Employee Benefits Fair in November and will be introducing three new health plan choices and explaining each in detail.
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