New Mexico Medicare Plans
Medicare Supplement Insurance (Medigap) Policies
New Mexico does not have a requirement for insurers in the state to sell Medicare Supplement Insurance policies to people who are under the age of 65.
The New Mexico Medical Insurance Pool (NMMIP) is the high-risk insurance pool (established in 1987) created to help people who are residents in need of assistance with obtaining health insurance coverage. NMMIP provides health insurance coverage for people who have been denied adequate coverage or who may be considered uninsurable (as in the case of a pre-existing condition). NMMIP offers three individual deductible options under its 80% plan (which covers 80% of covered charges once the deductible has been met) and one individual deductible option under the 100% plan. The deductibles are $500, $1,000, and $2,000 for the 80% plan and $5,000 for the100% plan.
Mini-COBRA Policies (Small Group)
New Mexico does mandate insurance continuation coverage (under the state’s continuation coverage law) for small employers of two to 19 employees.
Medicare Savings Program
In the state of New Mexico, there are four Medicare Savings Programs:
State Health Insurance Assistance Program (SHIP)
The state of New Mexico’s Aging & Disability Resource Center (ADRC) provides services for you in order to help with questions about your Medicare benefits. These services are provided via the State Health Insurance Assistance Program (SHIP), funded in part through a grant from the Centers for Medicare and Medicaid Services (CMS).
Low-Income Subsidy (ExtraHelp) for Prescription Drugs
The 2015 low-income subsidy for Extra Help with prescription drugs in New Mexico is $21.20.
If you live in New Mexico, you should consult with one of MedicareSolutions.com insurance specialists, who are available to provide you with personal assistance and the information you need specific to your area. A knowledgeable professional can provide you with plan comparisons for New Mexico and assist you with locating the Medicare insurance benefits that meet your needs.