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What Are Medicare Supplement Plans in New Mexico?

HealthCare Writer

Updated on February 23rd, 2022

We aim to help you make informed healthcare decisions. While this post may contain links to lead generation forms, this won’t influence our writing. We follow strict editorial standards to give you the most accurate and unbiased information.

What You Need to Know

Medicare Supplement plans in New Mexico are extra coverage from private insurance providers.

Medigap policies help pay for costs not covered by Medicare, like deductibles and copayments.

You’ll need to purchase a separate Medicare Part D plan for prescription drug coverage.

You might know you can sign up for Medicare, the federal health insurance program for seniors, after turning 65. You’ll first sign up for Original Medicare, or Medicare Part A and B. Original Medicare covers a lot of medical costs, but there are still out-of-pocket costs to consider.

You can help pay for these expenses with a Medicare Supplement plan, or Medigap policy. Medicare Supplement Insurance plans in New Mexico are offered by private insurance companies. They provide additional coverage to help cover out-of-pocket costs related to Original Medicare.

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When Can You Enroll in Medigap?

Before you sign up for a Medicare Supplement plan in New Mexico, you’ll first need to enroll in Original Medicare.

  • Medigap Open Enrollment Period (OEP): Your first chance to enroll is during the six months after you turn 65 and join Medicare Part B. This is the best time to enroll in a Medicare Supplement plan in New Mexico. Insurance companies aren’t allowed to deny your application based on preexisting health conditions such as diabetes or cancer. They also can’t charge you more because of your health.1 This means you’ll have access to the most plans at the best prices.
  • Outside Open Enrollment Period: You can still buy a Medigap policy outside of your OEP. However, insurance companies can turn you down or charge you more based on your health.
    • Guaranteed Issue: Certain circumstances give you the right to buy a Medigap policy in New Mexico outside of your OEP, known as guaranteed issue rights. Insurance companies can’t charge you more, reject your application or impose a waiting period because of your health.2
  • Special Enrollment Period: You can enroll in any Medicare Supplement plan outside of your OEP if you have a guaranteed issue right. Times where you have guaranteed issue include:
    • You have coverage from a group plan, such as an employer, and that coverage is ending
    • You’re moving out of a Medicare Advantage plan’s service area
    • You joined a Medicare Advantage plan and decide to switch to Original Medicare within a year of enrolling
    • Your current insurance company committed fraud and was terminated

When to Sign Up

The best time to sign up for a Medicare Supplement plan is during your Medigap Open Enrollment Period.

Plan TypeTotal Enrolled (Rounded)Percent of Total Enrolled
Plan F40,00057%
Plan G16,00024%
Plan N6,0009%
Source: The State of Medicare Supplement Coverage. ahip.org. Accessed on December 05, 2021.

Over 69,000 Medicare beneficiaries are enrolled in Medicare Supplement Insurance plans in New Mexico. The most popular plans are F, G and N.

  • Plan F: This plan covers most of the costs of Medicare Part A hospital insurance, including up to three pints of blood. It pays for hospital and hospice care and skilled nursing facility coinsurance. The plan also covers your Medicare Part A and B deductibles. You can’t sign up for Plan F if you became eligible for Medicare after January 1, 2020.
  • Plan G: Plan G is a good alternative if you’re not eligible for Plan F. It covers similar things, including hospital and skilled nursing facility coinsurance. However, the plan doesn’t cover your Medicare Part B deductible.
  • Plan N: This plan covers your Medicare Part A coinsurance and deductible. It also pays for Medicare Part B copayments. It doesn’t cover your Part B deductible or Medicare Part B excess charges.

How Do You Choose a Medicare Supplement Plan?

If you think a Medigap policy provides the coverage you need, start comparing plans before your OEP. Plans are standardized, making it easy to compare costs between private insurance providers.

You should also consider other healthcare needs like prescription drugs. Medicare Supplement plans in New Mexico don’t cover medications. You can get prescription drug coverage from a separate Medicare Part D plan.

How Much Do Medigap Policies Cost?

Insurance providers use three ratings to price plans.

  • Community-rated: Everyone on the plan pays the same premium.
  • Issue-age-rated: Premiums are based on your age when you sign up and don’t go up as you age.
  • Attained-age-rated: Your premium increases as you get older.

65-Year-Old Woman, No Tobacco Use

Plan TypePremium Range
Plan F$113-$348
Plan G$92-$329
Plan N$68-$300
Source: Supplement Insurance (Medigap) plans in New Mexico. medicare.gov. Accessed December 05, 2021.

65-Year-Old Man, No Tobacco Use

Plan TypePremium Range
Plan F$129-$392
Plan G$103-$372
Plan N$76-$338
Source: Supplement Insurance (Medigap) plans in New Mexico. medicare.gov. Accessed December 05, 2021.

What Companies Sell Medigap in New Mexico?

AARP – UnitedHealthcare Insurance Company
Accendo Insurance Company
American Benefit Life Insurance Company
American Continental Insurance Company
Bankers Fidelity Assurance Company
Blue Cross and Blue Shield of New Mexico
Capitol Life Insurance Company
Catholic Life Insurance
Cigna Health & Life Insurance Company
Colonial Penn Life Insurance Company
Garden State Life Insurance Company
Globe Life and Accident Insurance Company
Great Southern Life Insurance Company
Heartland National Life Insurance Company
Humana
Humana Value
Lumico Life Insurance Company
Manhattan Life Assurance Company
Mutual of Omaha
Nassau Life Insurance Company
National Guardian Life Insurance Company
National Health Insurance Company
Philadelphia American Life Insurance Company
Puritan Life Insurance Company of America
Southern Guaranty Insurance Company
State Farm Mutual Automobile Insurance Company
Transamerica Life Insurance Company
USAA Life Insurance Company
Union Security Insurance Company
United American Insurance Company
United Insurance Company of America
United States Fire Insurance Company
WMI Mutual Insurance Company

What If You Want to Change Your Medigap Policy?

Switching Medigap policies in New Mexico is as simple as applying for a new plan. However, you could be denied or charged higher rates if you don’t have a guaranteed issue right or are outside of your OEP. If you join a new plan, you’ll need to contact your old provider and request to cancel your existing plan.

Other Exceptions

Outside your OEP, signing up for a Medigap policy can be more difficult and more expensive, except in certain situations.

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Considering a Medicare Plan?

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What Are Alternatives to Medicare Supplement?

You can replace Original Medicare in New Mexico with a Medicare Advantage (MA), or Medicare Part C, plan. MA plans are private insurance that must offer the same coverage as Original Medicare. Most plans use a provider network, such as an HMO or PPO, and include coverage for prescription drugs.

What Are Medicare Resources in New Mexico?

  • New Mexico Aging & Disability Resource Center: The ADRC runs the New Mexico State Health Insurance Assistance Program (SHIP), which offers free, unbiased counseling to help you enroll in Medicare and find the right coverage.
  • NM Office of Superintendent of Insurance: This state department provides resources to protect insurance consumers, including Medicare beneficiaries.
  • New Mexico Medicaid, or Centennial Care: Low-income seniors and those with certain disabilities may qualify for free or low-cost medical coverage through Medicaid.

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Considering a Medicare Plan?

Get online quotes for affordable health insurance


Considering a Medicare Plan?

Get online quotes for affordable health insurance


Considering a Medicare Plan?

Get online quotes for affordable health insurance


Next Steps

Does a Medigap policy provide the right coverage for you? If so, you’ll want to compare Medicare Supplement Insurance plans in New Mexico before you turn 65. This way, you’ll be ready to buy a Medigap policy as soon as you enroll in Original Medicare.



Share this article

  1. U.S. Government Website for Medicare. When can I buy Medigap? medicare.gov. Accessed April 7, 2021.

  2. U.S. Government Website for Medicare. Guaranteed issue rights. medicare.gov. Accessed April 7, 2021.

  3. America’s Health Insurance Plans. State of Medigap 2020. ahip.org. Accessed April 7, 2021.

  4. U.S. Government Website for Medicare. Find a Medigap policy that works for you. medicare.gov. Accessed April 7, 2021.