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Best Medicare Supplement Plans in New Mexico – F, G & N Benefits

Since you are looking for the best Medicare Supplement plans in New Mexico, you already have your Original Medicare insurance in place. You may already know that Original Medicare doesn’t cover all of your costs, such as co-payments, coinsurance, and deductibles, and the amount that you are left to pay can be a large sum of money. You can lower the amount that you are responsible for paying by purchasing one of the best Medicare Supplement insurance plans in New Mexico.

Medicare Supplement plans are also known as “Medigap policies,” and you can purchase them from a private Medicare insurance company. To buy a Medigap policy, you must be enrolled in Medicare Part A and Medicare Part B. You must also pay your Medicare Part B deductible for your Medicare coverage to sign up for New Mexico Medicare Supplement plans.

Best Types of Medicare Supplement Plans in New Mexico

Insurance companies have up to 10 Medigap policies to offer residents of New Mexico. The plans A, B, C, D, F, G, K, M, L, and N provide you with distinct benefits, and these benefits are different from the ones that you can obtain from Medicare Advantage. If you are a beneficiary of Medicare Advantage and you want to take a look at Medigap plans in New Mexico, you will need to return to your Original Medicare insurance before you will be able to purchase one. Then, you can search for the best Medicare Supplement insurance plan in New Mexico for your needs.

It is important to remember that Medigap plans do not cover everything. Some of the services that Medigap plans in New Mexico do not cover include the following:

  • Private nursing care
  • Eyeglasses
  • Hearing aids
  • Dental care
  • Vision
  • Long-term care

Although Medicare Supplement insurance plans in New Mexico don’t cover the services listed above. For example, once you have purchased a Medigap plan, it will be “guaranteed renewable.” This means that the policy cannot be canceled if you have been paying your premiums.

In addition to signing up for a Medicare Supplement plan, many other people who are enrolled in the federal Medicare program also look into Medicare Part D prescription drug plans. Since paying for all of your prescription medication yourself can really add to the out of pocket costs of your health care, and since this coverage does not come with any of the Supplemental health plans, it’s worth talking to your insurance agent about Medicare Part D prescription drug coverage.

Benefits of Medicare Supplement Plan F in New Mexico:

The most popular of the Supplemental Medicare plans in Albuquerque and elsewhere in New Mexico is Medigap Plan F. When compared to the other plan options like Plan A, you’ll see that Medicare Supplement Plan F in NM offers many more benefits. You can expect your monthly premiums to be a little higher, but you might find that it’s worth it so that you can enjoy all of these benefits in addition to your standard Medicare benefits:

  • Part A hospital coinsurance
  • Hospital costs up to 365 days after benefits through Original Medicare are exhausted
  • Part A hospice care copays or coinsurance
  • Part A deductible
  • Part B deductible
  • Part B preventive office visit coinsurance
  • Part B coinsurance or copays
  • Excess charges for Medicare Part B
  • First three pints of blood needed for a medical procedure
  • Coinsurance for care in a skilled nursing facility
  • Limited foreign travel emergency care

Benefits of Medicare Supplement Plan G in New Mexico:

For a plan with almost as much coverage and benefits as Plan F but with a lower monthly premium, you should check out Medigap Plan G in New Mexico from your favorite insurance agency.

  • Does NOT cover Medicare Part B deductible

Benefits of Medicare Supplement Plan N in New Mexico:

Medicare Supplement Plan N in New Mexico is popular because it covers more than the U.S. government Medicare plan, but it has a lower premium than many other plans. The benefits are not as comprehensive, though, so you’ll need to be prepared to pay more out of pocket costs with this plan than with plans like Plan F or G.

  • Does NOT cover Part B Deductible
  • Does NOT cover Excess Charges for Part B
  • Requires $20 copay for office visits
  • Requires $50 copay for emergency room visits

Medicare Supplement Plans in New Mexico: When Can I Enroll?

The best time to enroll in a Medigap plan is during your Medigap Open Enrollment Period. This period begins the month that you turn 65 years old and enroll in Medicare Part B, and it lasts for six months. You won’t be able to purchase Medigap coverage if you fail to purchase it at that time. Sometimes, people can obtain permission to purchase after the enrollment period is over, but the plan will be more expensive.

Another thing to consider is the fact that insurance companies are entitled to use medical underwriting to determine whether or not they will offer you Medicare Supplement plans in New Mexico. If you have a health issue and apply during the initial enrollment period, the insurance company will be required to sell you any one of the Medicare Supplement insurance plans that you like for the same price as someone who is not experiencing any medical problems.

The insurance company from which you will purchase the best Medicare Supplement insurance plan in New Mexico will determine how much to charge you for your premiums, and it will do this in one of three of the following ways:

  • Community-rated: Your rates will not be determined by your age in this instance. Everyone who purchases the policy that you are thinking of purchasing will be charged the same rates.
  • Issue-age-rated: Your rates will be determined by the age you currently are when you purchase the policy, and they will not increase at any time in the future. This ensures that your premiums remain the same throughout the life of the policy, but they may be adjusted due to inflation.
  • Attained-age-rated: Your rates in this instance will be determined by your age, so they will be able to increase as you grow older. They can also increase because of inflation and other factors.

The way that you can find the best Medicare Supplement plan in New Mexico is to compare rates between several insurance companies in the Medigap Open Enrollment Period. This strategy will work best when you compare the same type of coverage across companies.

Medicare Supplement Plans in New Mexico: Enrollment Statistics

The top 5 most populous counties in New Mexico are as follows:

  • Bernalillo County with 674,855 people
  • Dona Ana County with 213,849 people
  • Santa Fe County with 147,514 people
  • Sandoval County with 138,815 people
  • San Juan County with 128,221 people

According to America’s Health Insurance Plans or AHIP, 21.3 percent of Medicare beneficiaries also enrolled in a Medigap plan in the year 2015.

New Mexico Medicare Resources

To learn more about Medicare Supplement insurance plans in New Mexico, as well as other options like Medicare Advantage plans, visit the following links:



CMS: Centers for Medicare and Medicaid Services

Related Topics for Comparing Medicare Supplement Companies and Plans in NM

My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as AetnaCigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.

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