New Mexico Medicare Plans
There are numerous Medicare options in New Mexico. These plans include Original Medicare, Supplements and Advantage Plans. Many beneficiaries also choose to enroll in Part D plans to limit out-of-pocket costs at the pharmacy. With so many options to meet your needs, it’s best to shop and compare plans carefully.
New Mexico Medicare plans open enrollment
In New Mexico open enrollment begins at age 65. This period begins three months prior to your birthday and continues for the three months following your birthday. At this time it is best to enroll in a Supplement as you cannot be denied coverage based on your health.
While you can enroll in a Supplement at any time during the year, it is best to do so during this open enrollment period otherwise you will be required to complete a health survey and can be declined coverage because of health conditions.
The Medicare plans in New Mexico are best when combined with a Supplement. Original Medicare leaves behind coinsurance and deductible costs. You may have additional costs as Original Medicare only covers about 80% of outpatient costs.
A Supplement can put a cap on out-of-pocket spending. Another benefit is you can see any doctor that accepts Medicare.
There are ten standardized plans lettered A-N. Similarly, lettered plans offer similar cover, the only difference being the cost. It is so important to compare and shop the best plan for your healthcare needs and your budget. We offer a service to assist you with this process that free!
If you were enrolled in Medigap plans C or F before 2019, you could remain enrolled in those plans; however, new beneficiaries cannot enroll in those two plans.
Medicare Advantage Plans
There are 23 Advantage (Part C) plans in New Mexico depending on which county you live in. These plans are private insurance plans that provide all the existing benefits of Original Medicare and include additional benefits. These additional benefits include dental, vision and prescription drug coverage.
New Mexico has a dedicated Part C enrollment period that runs from January 1st through March 31st. During this period you may change to a different Part C plan or you can choose to switch to Original Medicare.
Medicare Part D
There are 27 Part D plans in New Mexico. These plans help to limit out-of-pocket expenses at the pharmacy. Original Medicare and Supplements do not provide coverage for prescription drugs. This is why many people choose to enroll in a Part C or Part D plan in order to cover prescription drugs.
How we can help
Remember, all plans provide standardized coverage and the only difference is the cost. Our New Mexico licensed agents are ready to help you shop these plans to create the best combination of coverage for your needs and your budget. We offer this service at no cost to you. Reach out today and allow us to assist you through this enrollment process.