New Mexico needs Medicaid Forward now
December 14, 2024As a business owner in New Mexico, I’ve seen firsthand how access to affordable, quality health care can affect not just the well-being of employees but the health of the business itself.
For the last 25 years, I’ve led Ideum, a firm based in New Mexico, and over that time, I’ve come to appreciate the unique beauty and diverse culture that make this state so special. But as much as I love living here, I’ve also witnessed the challenges businesses face, especially in areas like health care. That’s why I’m a strong supporter of Medicaid Forward — a bold proposal that stands to benefit every New Mexican, whether they are a business owner, a worker or a family.
New Mexico’s health care system has made great strides in recent years, but many gaps remain. More than 1 in 10 New Mexicans still lack health insurance, and the rising cost of coverage continues to put an enormous strain on businesses, particularly small businesses, which fuel our economy. At Ideum, we’ve always prioritized providing health insurance for our employees, but the ever-increasing premiums and high deductibles make it an ongoing challenge. It’s a challenge many businesses face — and it’s one that holds back our economy as a whole.
Medicaid Forward would allow individuals whose incomes exceed the current Medicaid income eligibility limits to buy the same coverage on a sliding scale. There’s a misconception that expanding health care coverage would be costly for the state. This couldn’t be further from the truth. In fact, it’s a win-win for our state.
Expanding Medicaid would bring tens of millions of dollars in federal funding to New Mexico — funds that will directly support doctors, nurses, hospitals and other vital health care infrastructure. According to the state’s recent study, Medicaid Forward would address critical health care access needs, and the state’s revenue is projected to exceed the program’s costs, resulting in a net financial gain for New Mexico.
This time of the year is when most businesses renew their health care plans. Nearly every year, our company sees double-digit increases and changes to plans and coverage; this year is no exception. Medicaid Forward would help reduce health care costs for employers like me, making it easier to plan for the future and invest in our workforce. Expanding coverage and improving access to care can ease the strain on our health care system, lowering costs for everyone and creating a better environment for businesses to thrive. This, in turn, boosts our economy, attracting more investment, creating jobs and supporting the growth of local businesses and entrepreneurship.
The time to act is now. Medicaid Forward has widespread public support, with 3 in 4 New Mexicans in favor of expanding coverage. The debate shouldn’t be about whether to do this but how to get it done. Whether large or small, every business in New Mexico will benefit from a healthier, more productive workforce.
I urge lawmakers to put aside partisanship and focus on what’s best for New Mexico’s future. Medicaid Forward is not just a policy; it’s a pathway to a more prosperous New Mexico. Let’s seize this opportunity to make health care accessible to all, strengthen our economy and lead the nation in showing what’s possible when we come together to solve real problems.
It’s time for New Mexico to lead the way in health care reform. Let’s make it happen.
Jim Spadaccini is the founder and CEO of Ideum, a Corrales-based interactive design firm and touch screen manufacturer.
Originally published in Santa Fe New Mexican