The affordable health insurance in New Mexico for most people is the silver plan, which is the cheapest silver plan in 79% of the counties.
- Gold Level: Best if high medical costs are expected
- Silver Level: Best for average consumers
- Bronze Level: Best for young and fit or income eligible Through Medicaid. Health insurance plans and rates vary by county, so finding the best health insurance can be difficult.
Metal Cheapest Health Insurance By Level
Health New Mexico insurance plans by metal level can help you when looking for affordable health insurance. Fees and charges varies state by state, so the guidelines below may not be available in your area.
Higher metal tier health insurance plans mean higher monthly premiums, but lower out-of-pocket costs. For example, the Ind HMO Bronze 2 plan has a monthly premium of $302, which is $22 less per month than the cheapest Silver plan, the Anbetter Silver Balance Care 31. Less than Bronze plan.
Your monthly health insurance premium also increases with age, regardless of your plan’s metal tier. For example, 40-year-olds in New Mexico pay an average of 27% more for the Silver plan than 21-year-olds. So if you’re 40, you’re paying an average of $101 more per month for a Silver health plan. You may also have interest in Florida affordable housing
Cost of Health Insurance in New Mexico
1. Gold Plan
The health insurance plan that best suits your needs will depend on the policies available in your county and your financial situation. Health plans with higher metal tiers, such as Gold Insurance, tend to have the highest premiums, but have affordable copays such as deductibles, copayments, and coinsurance.
This means that if regular medical expenses such as prescriptions are high or if you think you may need medical care, a plan with a higher metal tier may be your best option. means there is However, if you are young, in good health, have no anticipated medical expenses, and can cover higher out-of-pocket costs, a lower metal tier policy may be selected. Best when medical expenses are expected
If you use or plan to use insurance often, the Gold plan typically has the lowest net cost due to lower deductibles and out-of-pocket costs. Gold plans typically have the highest monthly premiums expected to pay, but in reality the average monthly premium for the Gold plan is lower than the average monthly premium for the Silver plan in New Mexico.
Finally, if you anticipate high medical costs, the Gold plan is for you. B. If you fear that you will not be able to pay for a chronic illness that requires ongoing medical care or an unexpected illness out of your own pocket. The cheapest Gold plan in New Mexico is Friday Gold.
2. Silver Plan
Great for those with low income or average healthcare costs. However, the Silver plan has the highest average monthly premium in New Mexico due to the Cost Sharing Reduction (CSR) grant, which is no longer funded by the federal government. However, For low-income households, his CSR grant for Silver Health Plan may be available. This will further reduce your out-of-pocket costs.
A typical Silver plan covers about 70% of your medical costs and you pay 30%, but under the CSR subsidy you can qualify for a Silver plan that covers up to 94% of your medical costs. increase. New Mexico’s cheapest silver plan is Ambetter Silver Balanced Care 31. Compare all New Mexico rates above.
3. Bronze and Enhanced Bronze Plans
Best for young and healthy Individuals. Bronze and enhanced bronze plans generally have lower premiums than Silver and Gold plans. These cheaper policies have lower coverage and higher deductibles. So if you need medical care that year, you’ll have to pay more money yourself in the form of deductibles and co-payments before the policy can provide coverage.
We do not recommend these policies unless you can afford higher deductibles, copayments and coinsurance in the event of a medical emergency. Expanded, it can cover about 60% (up to about 65%) of medical expenses. The cheapest Bronze plan in New Mexico is Ind HMO Bronze 2. The cheapest Advanced Bronze plan is Friday Bronze Plus. Compare all levels in New Mexico above.
Affordable Health Insurance In New Mexico: Company
New Mexico residents require insurance companies to offer at least one silver and gold tier plan statewide, so most areas of the state have more health insurance options compared to people with Six of his health insurance companies are now listed on the New Mexico Stock Exchange. Cheapest Silver Health Plans Through Friday Silver.
Cheapest Health Insurance Plans By County
Insurers must offer plans at both silver and gold levels statewide, but plans and prices vary by county. There are cases. To help you start finding the health insurance plan that’s right for you, we’ve identified the cheapest silver health plans available on the New Mexico Stock Exchange by county.
For 40-year-olds, the average cost of health insurance in New Mexico in 2022 will be 16% higher than in 2021. Conversely, health insurance costs have increased over the past year for all Metal tiers, except for advanced Bronze plans. Bronze plans saw the largest increase during this period, with an average increase of 50% statewide.
Frequently Asked Questions
What is the average cost of health insurance in New Mexico?
The average cost of health insurance in New Mexico in 2022 is $394 at age 40. However, the cost of health insurance depends on your insurance level, place of residence and age. What is the cheapest health insurance company in New Mexico? In most of New Mexico, Friday Health Plans is the cheapest silver health plan company.