New Mexico Medicare Insurance Plans
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.
Mini-COBRA Policies (Small Group)
New Mexico does mandate insurance continuation coverage (under the New Mexico continuation coverage law) for small employers of two to 19 employees.
New Mexico Medicare Savings Program
In the state of New Mexico, there are four Medicare Savings Programs:
- Qualified Medicare Beneficiaries (QMBs): New Mexico provides for individuals with a monthly income under $973 and married couples with a monthly income under $1,311 by paying all premiums for Medicare Part B and all copays and deductibles for Medicare Parts A and B.
- Specified Low-Income Medicare Beneficiaries (SLIMBs): For individuals with income of at least $973 but less than $1,167 or married couples with income of at least $1,311 but less than $1,573, the state of New Mexico provides payment of premiums for Medicare Part B (an individual must be enrolled in Medicare Part A).
- Qualified Individuals 1 (QI1s): For individuals with income of at least $1,167 per month but not to exceed $1,313 or married couples with a monthly income of at least $1,573 but not exceeding $1,770, the state pays premiums for Medicare Part B.
- Working and Disabled Individuals (WDIs): For individuals who because of earnings do not qualify for Medicaid benefits under the QMB, SLIMB, or QI1 programs.
State Health Insurance Assistance Program (SHIP)
The Aging & Disability Resource Center (ADRC) in New Mexico 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).
New Mexico SHIP provides education, counseling, and information concerning:
- Medicare Parts A and B (Original Medicare)
- Medicare Advantage Plans (Part C)
- Medicare Prescription Drug Plans(Part D)
- Medicare Supplement Insurance (Medigap Plans)
- Long-term care plans and services
- Low-income assistance programs
Volunteers and staff are available to help you with your questions and the application process; they do not endorse, sell, or recommend insurance plans.
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 our insurance specialists, who are available to provide you with personal assistance and the information you need specific to your area. A knowledgeable professional can help you compare New Mexico Medicare insurance plans and assist you in finding the plan with the benefits that meets your needs.