Jeff Bingaman United States Senator from New Mexico

WASHINGTON – The Senate Finance Committee today began crafting health insurance reform legislation. U.S. Senator Jeff Bingaman is a member of that panel.

Bingaman said the time has come to pass health insurance reform legislation to both contain skyrocketing costs and extend coverage to the uninsured.  

"The average premium for a family of four in New Mexico was about $6,000 in 2000. By 2006, this rate had almost doubled to over $11,000. By 2016 this amount is expected to rise to an astonishing $28,000," Bingaman said. "Unchecked, New Mexico is expected to experience the greatest increase in health insurance premiums in the nation. The legislation we are considering today will address this very serious problem."

Bingaman also pointed out that New Mexico continues to have one of the highest uninsured rates in the country, and that he hopes to adopt a public option that will introduce more competition into the insurance market.

Finally, Bingaman said the bill before the Finance Committee will benefit the country's long-term financial stability. 

"According to the non-partisan Congressional Budget Office, not only does this proposal not add to deficit but it actually cuts health care costs in the long run, reducing the suffocating burden of health care costs on our economy projected for the future," Bingaman said.