Medicare Supplement Plans in New Mexico
Medicare Supplement insurance in New Mexico helps cover coinsurance, deductibles, copayments, and other costs that Original Medicare does not cover. There are ten Medicare Supplement plans available to Medicare beneficiaries.
- Of the ten plans offered, Cigna's Plan G is one of the best options available to residents in New Mexico who are exploring their Medicare Supplement Plan options. The monthly price tag of $104.81 provides the most comprehensive coverage.
- Cigna's Plan N is an affordable option for anyone looking for high-quality insurance. With this valuable coverage plan, you only have to pay $86.88 per month.
- For those looking for an option that is more affordable but still offers great coverage, Mutual of Omaha's High Deductible Plan G only costs $42.24 per month instead of the usual high costs, with access to the same Plan G benefits. There is a requirement for this plan though: you must meet the annual deductible which amounts to $2,700 before medical claims are paid.
Below are highlights of the features and benefits of each plan.
Cigna Medicare Supplement Plan G
- Cigna Medicare Supplement Plan G is the most comprehensive option for New Mexico beneficiaries.
- It covers many out-of-pocket costs except the deductible for Medicare Part B.
Choosing Cigna's Plan G offers several key advantages:
- Coverage for Part B excess charges, Medicare Part A deductible, and Part B coinsurance.
- No referrals are required.
- Freedom to see any medical provider who accepts Original Medicare.
Monthly Plan Cost: $104.81
*Prices based on a 65 year old non smoking female living in zip code 87121 New Mexico.
Cigna Medicare Supplement Plan N
Cigna Medicare Plan N is a cost-effective option for those who want to keep their premiums low compared to other plans such as Medicare Plan F and G.
Plan N benefits include, but are not limited to:
- Skilled nursing facilities
- $0 Part A deductible
- Foreign travel emergency healthcare
- Maximum $20 copay for office visits
- Maximum $50 copay for an ER visit (waived if admitted)
Out of Pocket Expenses:
- Must pay Part B deductible
- Must pay Part B excess charges
- Must pay copays for office visits and ER visits
Monthly Plan Cost: $86.88
*Prices based on a 65 year old non smoking female living in zip code 87121 New Mexico.
Mutual Of Omaha High-Deductible Plan G
- For those looking for an affordable alternative to Medicare Supplement Plan G, Mutual Of Omaha High-Deductible Plan G is worth considering. It offers the same coverage at a much lower monthly cost - but beneficiaries must pay the $2,700 deductible upfront before coverage takes effect.
Monthly Plan Cost: $42.24
*Prices based on a 65 year old non smoking female living in zip code 87121 New Mexico.
Cigna Medicare Supplement Plan F
- To ensure the most comprehensive coverage, Cigna Medicare Plan F is your optimal choice. It covers not only Part A and Part B deductibles but also all coinsurances.
- To be eligible for the benefits of this program, it is essential that you have enrolled in Original Medicare before January 1st 2020.
Monthly Plan Cost: $124.76
*Prices based on a 65 year old non smoking female living in zip code 87121 New Mexico.
What's the Best Medicare Supplement Company in New Mexico?
Based on our review of several key factors, Cigna is the best Medicare Supplement company in New Mexico.
While Cigna Medigap plans tend to be more affordable in New Mexico, it's not the only factor when selecting the best Medicare Supplement company. For example, depending on your plan letter of choice, one provider might offer Plan N at a lower cost but may be pricier for Plan G; every insurer has its own set of advantages and drawbacks depending on their levels of coverage. For this reason, Cigna remains our top selection during the review process due to its affordability, expansive range of plan choices, household premium discounts, and high customer satisfaction rates.
This chart compares different Medicare Supplement companies to Cigna that are also available in New Mexico, including sample premiums, ratings, and market share:
Cigna
Market share: 4.66%
Plan G cost: $104.81
Plan N cost: $86.88
Financial strength: A
Mutual of Omaha
Market share: 19.19%
Plan G cost: $116.65
Plan N cost: $88.30
Financial strength: A+
Aetna
Market share: 6.74%
Plan G cost: $120.20
Plan N cost: $90.13
Financial strength: A
United Healthcare
Market share: 43.90%
Plan G cost: $116.51
Plan N cost: $98.05
Financial strength: A
For illustrative purposes only: The premiums listed are for a 65-year-old female, non-smoker from a local zip code. Many insurance companies offer household discounts - eligibility for premium discounts can be determined when enrolling in a plan. The AM Best rating determines the financial rating of each carrier. No warranties or guarantees of any kind have been expressed.
How Much Does a Medigap Plan Cost in New Mexico?
The best price for Medicare Supplement Plan G in New Mexico is $124.76 per month with Cigna.
Your age and plan choice will have the most significant impact on your premium.
Here you can see how the prices compare for several different plans:
Medigap Plan
Plan F
Plan G
Plan N
High Deductible G
Plan A
Monthly Cost
$124.76
$104.81
$86.88
$42.24
$92.51
Plan Popularity in New Mexico
60%
45%
25%
15%
8%
Quotes are for sample purposes only. Prices are the average monthly rate in New Mexico for a 65-year-old female nonsmoker. Part B start date and or medical underwriting may affect your rate.
When Can I Apply for a Medicare Supplement Plan?
Every New Mexico beneficiary has a unique six-month Medigap Open Enrollment Period that only occurs one time.
It starts the first day that the beneficiary meets the following qualifications:
- At least 65 years old.
- Enrolled in Medicare Part B.
Beneficiaries receive the lowest possible rates during this enrollment period due to guaranteed issue rights. In addition, no Medicare insurance company can deny the beneficiary access to any plan, and they must offer the lowest monthly rate available in the beneficiary's zip code.
Medical underwriting is not allowed during the open enrollment period. This means that a beneficiary's current and pre-existing health conditions are not a factor in pricing.
Unless a beneficiary qualifies for a special enrollment period with guaranteed issue rights, the insurer can use medical underwriting to determine rates for applications received outside the open enrollment period. In addition, beneficiaries may apply for a supplemental insurance policy at any time if willing to accept higher rates and potential denial.
Ready to Learn More?
We help educate Medicare beneficiaries on their Medigap options and help them go through the process of reviewing and comparing plans. We work with some of the nation's top-rated Medigap carriers. So give us a call today, or request a quote online to learn more about Aetna Medicare Supplement plan G and Mutual of Omaha Medicare Supplement plan G in your state.
For over 15 years, Matt Kiggins has been the senior editor at Senior Life Insurance Plans, giving detailed advice on Medicare, life insurance, and dental coverage to thousands of clients in more than forty states. His demonstrated expertise in assisting people with their health plan selection is remarkable — it’s evident that he stands out among competitors as the go-to source for knowledge and support.
Matt holds a resident 2–15 Florida Health & Life (Including Annuities & Variable Contracts) Agent License in Florida, his state license number is P116762 (Issued 10/1/2007).
Key Takeaways
- New Mexico beneficiaries only receive essential benefits after enrollment in Medicare Part A and Medicare Part B. Those benefits leave a lot of gaps that force Medicare beneficiaries to pay some costs out-of-pocket.
- There are 10 Medicare Supplement plans in New Mexico to choose from.
- In New Mexico, care Supplement Plan G is the most popular plan for 2023.
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