Jul. 4—Employee health care premiums for New Mexico small businesses with 50 employees or fewer went down 10 percent with five major carriers through funding provided by the state's Health Care Affordability Fund, the New Mexico Office of Superintendent of Insurance reported.

The Small Business Health Insurance Premium Relief Initiative within the fund applies to health insurance that is compliant with the Affordable Care Act.

"This premium relief comes at a critical moment in our state's economic recovery," Superintendent Russell Toal said in a news release.

The 10 percent premium reduction, which went into effect last Friday, will be included for qualifying small group health plans offered by Blue Cross Blue Shield of New Mexico, Friday Health Plan, Presbyterian Health Plan, True Health New Mexico and United Healthcare.