New Mexico has a total of 429,618 Medicare beneficiaries. Approximately 263,913 enrollees have opted for Original Medicare, and the rest have Medicare Advantage plans.
In the following sections, we will discuss the benefits and drawbacks of the New Mexico Medicare plans.
New Mexico Medicare Facts & Figures
- Around 227,611 people have enrolled in Medicare Part A and Part B
- Of those 192,637 aged into Medicare Part A and Part B
- About 34,975 of those have disabilities
- Nearly 165,705 have Medicare Advantage plans
- In New Mexico, 289,616 people have Medicare Part D plans
Medicare Costs in New Mexico for 2024
In New Mexico, Medicare provides health insurance to seniors and pays for medical expenses. Medicare Part A covers hospital stays, nursing home care, and home health care. Medicare Part B pays for medical services, including ambulance services, medical equipment, and mental health.
Generally, Medicare costs remain the same across the states. Medicare Part A has an annual deductible of $1,556 for hospital services. Other charges include inpatient hospital stay for 61-90 days at $389 per day.
Medicare Part B has an annual deductible of $233. Part B uses an 80/20 split for all Medicare services. Medicare pays 80% of the cost, and the beneficiary pays the rest as out-of-pocket expenses.
|Medicare Part A Costs in 2023
|Medicare Part B Costs in 2023
Original Medicare Coverage
Medicare beneficiaries can sign up for Original Medicare in all 50 states and US territories. Medicare Part A and Part B coverage does not change from state to state. As a result, Original Medicare covers your basic inpatient and outpatient nationwide.
In New Mexico, people 65 and over qualify for Original Medicare. About 262,852 have Medicare Part A coverage, of which 222,881 have aged into the program, and 39,972 have a disability.
Medicare Part B has 232,614 enrollees, of which 197,634 have aged in, and 34,980 have disabilities.
|Medicare Part A (Hospital Coverage)
|Medicare Part B (Medical Insurance)
Supplemental Medicare Plans in New Mexico
Supplemental Medicare plans pay for out-of-pocket expenses not covered by Original Medicare. Original Medicare costs can quickly add up in the form of coinsurance, copayments, and deductibles. Before choosing a plan, understand the limitations and benefits of the supplemental policy.
Medigap plans cover expenses that Original Medicare doesn’t. These plans can pay copayments and deductible costs left over from Medicare Part A and Part B. You can visit an extensive network of Medicare-approved doctors with a Medicare Supplement plan.
Medigap plans have many benefits as they work in conjunction with Original Medicare. Medicare Supplement Plans have higher premiums but low out-of-pocket expenses. Medigap plans also pay for Medicare Part B excess charges and foreign travel care.
Medicare Advantage, or Part C, plans provide an alternate way to receive Original Medicare, and these plans offer the same benefits as Medicare Part and Part B. Some programs include coverage for Medicare Part D or drug coverage.
Medicare Advantage plans offer extra services, including dental, hearing, vision, and home health care. Part C has four types of programs: Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Private Fee-For-Service (PFFS), and Special Needs Plans (SNPs).
Medicare Part D
Medicare Part D plans pay for prescription medication costs. No Medigap plan offers drug coverage, but some Medicare Advantage plans do. Medicare beneficiaries can also purchase standalone Part D plans.
Beneficiaries can enroll in Part D plans when they enroll for Original Medicare. After becoming eligible for Medicare, you can join, switch, or drop a drug plan. Avoid delaying enrollment, or you might face gaps in coverage and penalties.
New Mexico Medicare beneficiaries who need additional coverage should consider purchasing a supplemental plan. Medigap and Medicare Advantage plans can help you if Original Medicare does not cover all your healthcare needs.
Cities in New Mexico with Estimated Premiums for Supplemental Medicare Coverage
Estimated premiums for each type of supplemental Medicare coverage for the cities listed below can be accessed with the accompanying charts linked below:
New Mexico Medicare Resources
Medicare beneficiaries in New Mexico have access to many different resources to help them with Medicare. The State Health Insurance Assistance Program (SHIP) provides free counseling and educates individuals and families on Medicare.
The Human Services Department in New Mexico assists individuals with the Medicaid program and aims to provide high-quality healthcare services.
The New Mexico Office of Superintendent of Insurance enforces health insurance laws and helps policyholders make informed decisions. Another great resource, the New Mexico Aging and Long Term Services Department, assists people with chronic disabilities and diseases such as End-Stage Renal Disease (ESRD) enroll in Medicare.
Lastly, Medigap.com can help individuals living in New Mexico enroll in a supplemental plan.
Who is eligible for Medicare in New Mexico?
In New Mexico, those 65 or older become eligible for Medicare. However, people with disabilities and specific diseases such as End Stage Renal Disease can apply for Medicare earlier.
What Medicare region is New Mexico in?
The Durable Medical Equipment Administrative Contractors (DME MACs) process claims for their respective states and territories, and Medicare beneficiaries must submit their claims to New Mexico’s DME MAC. The state of New Mexico falls under Jurisdiction C.
What are the four parts of Medicare in New Mexico?
The four parts of Medicare in New Mexico include Medicare Parts A, B, C, and D. Each part provides different services and medical health care.
Part A provides hospital insurance, and Part B pays for medical bills. Medicare Part C offers Medicare Advantage plans, and Part D covers prescription costs.
Can I be enrolled in Medicare and Medicaid simultaneously in New Mexico?
Yes. Some people can have both Medicare and Medicaid. About 20% of Medicare enrollees have dual-eligible plans with Medicare and Medicaid benefits. Most beneficiaries can receive limited or complete Medicaid benefits.
Does Social Security automatically enroll you in Medicare in New Mexico?
Yes. Beneficiaries who start receiving Social Security benefits at least four months before turning 65 get automatically enrolled in Original Medicare.
While Medicare Part A has no costs, the Part B premiums get deducted from your Social Security, Railroad Retirement, or Civil Service Retirement check.
How to Sign Up for Supplemental Medicare in New Mexico
Supplemental Medicare in New Mexico can be a great way to get the coverage you need and protect yourself from large medical bills. However, it’s essential to understand your options and ensure you’re getting the best plan for your needs.
Our team of licensed insurance agents is here to help you do just that. Give us a call or complete our online rate form to receive the best rates.