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Best Medicare Plans in New Mexico

If your Medicare Initial Enrollment Period is coming up, then it’s time for you to start thinking about Medicare in New Mexico. Medicare in New Mexico refers to Medicare Part A and Medicare Part B, which is designed for individuals who are 65 or older or who are on disability. If either of these things apply to you, then you will probably soon become one of the Medicare beneficiaries in New Mexico. Then, you can use the federal Medicare program to save on out-of-pocket costs for healthcare.

Overview of Medicare in New Mexico

Medicare Part A is the type of Medicare in New Mexico that applies to your hospital insurance. It helps pay for things when you’re in a hospital or a hospice care facility. Although there are coinsurance, deductibles and copayments (copays) that have to be paid, you don’t typically have to pay a premium for Medicare Part A.

Medicare Part B is the second part of Medicare. It does have a monthly Medicare Part B premium. The amount you have to pay is based on your income. Unless you are considered a higher-income beneficiary, you’ll pay the lowest amount. Medicare Part B is medical insurance, and it helps provide coverage when you visit the emergency room, need care in a skilled nursing facility or go in for a doctor’s office visit.

Some Medicare beneficiaries in New Mexico rely simply on the typical New Mexico Medicare benefits on their own. Many purchase one of the Medicare plans in New Mexico that are available so that they can get more out of their Original Medicare insurance, such as a Medicare Advantage plan or Medicare Supplement insurance.

Signing up for one of the Medicare plans in New Mexico is a good idea for many. You’ll need to choose the right plan and the right insurance company when you do this, though. Using our site to check out a Medicare Supplement plans comparison chart and to get Medicare Supplement plan quotes is a good idea. You can also call and chat with one of our licensed insurance agents so that you can get one-on-one help with enhancing Medicare in New Mexico.

Enrollment Statistics for Medicare in New Mexico

There are many people who are enrolled in New Mexico Medicare insurance, whether they are just enrolled in Original Medicare in New Mexico or if they have purchased one of the Medicare plans in New Mexico.

Here are a few quick stats:

  • 417,438 total New Mexico beneficiaries of Medicare, as of 2018
  • 138,316 New Mexico beneficiaries of Medicare Advantage, as of 2018

Best Types of Medicare Plans in New Mexico

After reading a complete description of benefits, you might find that you want additional health insurance coverage on top of the Original Medicare coverage. You can purchase insurance plans from an insurance agency with top star ratings, such as Aetna, Cigna and Mutual of Omaha. Listed here are some of your plan options; you can also look into a state assistance program to see if you qualify for Medicaid to use along with Medicare.

  • Medicare Supplement Plans in New Mexico – Also known as Medigap plans, you can sign up for one of these plans after you are enrolled in Original Medicare Part A and Part B and use it to cover the gaps in their coverage. When buying a plan, you can choose between 10 different plans. There are no network restrictions for health care providers when you choose a Supplement, and there are plans available with different monthly premiums, so finding one that fits your budget should be easy.
  • Medicare Advantage Plans – Also referred to as Medicare Part C, Medicare Advantage is an alternative to using your New Mexico Medicare benefits. The great part about these plans is that they often include a lot of perks that you can’t enjoy otherwise, although you’ll need to compare plans so that you can pick the one that offers the most in exchange for the rates that you pay. For example, you may want to look for a plan with Medicare Part D prescription drug coverage. Some plans include vision, dental and hearing coverage. Wellness benefits might also be included. Many of these health plans are HMO or PPO plans with network restrictions, though.
  • Medicare Prescription Drug Plans – Part D – You probably don’t want to pay the Medicare Part D late enrollment penalty later on, which you could be subject to if you don’t sign up as soon as you’re Medicare eligible. Signing up can help you enjoy great savings on your medication. If you purchase an Advantage plan with a Medicare Advantage prescription drug plan included, then you will not have to buy a separate plan.
  • Special Needs Plans – If you have certain chronic and severe medical conditions, you might be able to purchase an SNP.

New Mexico Medicare Resources

If you want to learn more about New Mexico Medicare insurance, check out these resources. In addition to checking out these sites, it’s best to use our site or give us a call for more help. We’ll help you compare benefits and rates for premiums. Then, you can find the best option for enhancing your Original Medicare insurance.

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