New Mexico Medicare Plans
Medicare Supplement (Medigap) Policies
New Mexico does not require insurers to offer Medicare Supplement policies to adults under sixty-five.
The State mandates small employer's continuation coverage for up to nine months. The New Mexico Health Insurance Alliance permits some individuals to continue to maintain Alliance coverage indefinitely. In order to be eligible, an individual must have maintained Alliance group coverage for six months and no longer be eligible for this coverage for almost all reasons (e.g. loss of employment, loss of policy, death and divorce).
Medicare Savings Programs (Premium Support)
New Mexico has three Medicare Savings Programs:
- Qualified Medicare Beneficiaries (QMBs): For individuals with a monthly income under $903 and for couples with a monthly income under $1215, the state pays all premiums for Part B and all Co-Pays and Deductibles for Parts A & B
- Specified Low-Income Medicare Beneficiaries (SLMBs): For individuals with income under $1083 or couples with income under $1457, the state pays premiums for Part B.
- Qualified Individuals (QIs): For individuals with income under $1219 or for couples with an income under $1640, the state pays premiums for Part B.
To qualify for any one of these programs, participants must have assets below $6,600 or be part of a couple with assets below $9,910.
State Health Insurance Assistance Program (SHIP)
The ADRC/ SHIP is the single point of entry for older adults, people with disabilities, their families and the general public to access a variety of services, including state and federal benefits, adult protective services, prescription drugs, in-home and community-based care, housing, and caregiver support. New Mexico State Health Insurance Assistance Program (SHIP) is a national program that offers one-on-one counseling and assistance to people with Medicare and their families. Coordinators provide benefits counseling on Medicare, Medicare prescription drug program, Social Security, Medicaid, and Veteran's benefits. NM SHIP ensures that older New Mexicans receive accurate, unbiased information about health care options and other entitlements. It does not sell, endorse or recommend any specific insurance or other health plans.
State Coverage Options
- The New Mexico Health Insurance Alliance is a public-private partnership providing coverage for those who have lost group coverage and small employer with difficulty buying commercially available group plans.
- The New Mexico Medical Insurance Pool provides coverage to those uninsurable in the commercial market. The program is administered by Blue Cross Blue Shield of New Mexico.
Low-Income Subsidy (“extra-help”) for Prescription Drugs:
This program is a subsidy for Part D recipients with resources under $13,070 (or $26,120 for a couple) to receive money towards a Medicare prescription drug plan. The benchmark of support is different depending on which region of the country you live in. In New Mexico in 2012, the low-income subsidy was $21.27 per month.
If you live in New Mexico, consult with one of our MedicareSolutions.com insurance specialists to get personal assistance that is specific to your area. One of our experienced specialists can compare plans in your area and help you find the Medicare insurance benefits that are right for your needs.