In New Mexico operates, you can enroll for health insurance plans via a state-run health insurance exchange. The state also uses the federal enrollment platform at HealthCare.gov for individual enrollments. In the state, open enrollment for 2020 coverage ends on December 15, 2019.
As of 2019, short term health insurance plans are no more available for the citizens. In the state, you can buy affordable individual insurance from four insurers. For 2019 coverage, 45,000 New Mexico citizens enrolled in 2019 coverage through the exchange. The state implemented the ACA’s Medicaid expansion in 2014 itself.
New Mexico Health Marketplace:
Open enrollment for 2020 coverage continues until December 15, 2019. After that, enrollment in 2020 coverage will only be possible for residents who have qualifying events. New Mexico utilizes a state-run health insurance exchange based on the federal enrollment platform at HealthCare.gov. The state is now is planning to operate its own enrollment platform with a fully state-run exchange at that point.
Four insurance carriers are offering healthcare plans via New Mexico’s exchange for 2020. They are Blue Cross Blue Shield of New Mexico, New Mexico Health Connections, Molina and True Health.
Medicaid/CHIP in New Mexico:
In early dates of 2014, New Mexico agreed upon receiving federal fund to expand Medicaid eligibility under the Affordable Care Act. As of mid-April 2014 (reported), 30,147 citizens in the state had enrolled in Medicaid through the New Mexico exchange.
New Mexico Individual and Family Health Insurance Plans:
For self-employed or people without insurance, New Mexico health market place has a number of individual or family health insurance plans in budget. These plans are affordable and designed to fulfill your exact health insurance needs. Since every person’s health needs are different, their health insurance plans are also different.
Short Term health Insurance Plans:
In the state, short term health insurance plans are under written by Golden Rule Insurance Company. These plans offer flexible health insurance coverage when you need it the most. There are multiple situations when you should go for the plan. If you unfortunately missed to enroll for Affordable Care Act (ACA) or don’t qualify for Special Enrollment, you may go for short term plans. In case you are turning 26 and still waiting for your ACA coverage to start, the plan is handy one.
In some states, Short term health insurance is also called temporary health insurance or term health insurance. The plan is the best fit to fill that gap in coverage until you can choose a longer term solution.
Short term plans offer many benefits. Its coverage starts as soon as you apply for the plan. With short term health insurance, you have the opportunity Pick your deductible amount from several options. You can also pick the overall length of coverage that may last 1 to 12 months. Beneficiary can buy another short term plan if the existing one ends.
Dental Insurance Plans:
Dental insurance is designed to offer beneficiary coverage for common dental care issues. These dental insurance plans in New Mexico offer budget for preventive, basic and major dental care services. In the state, Golden Rule Insurance Company underwrites dental insurance plans to help you get the right dental insurance plans in affordable price tag.
Since ACA doesn’t cover dental insurance, dental insurance plans in New Mexico can fill the gap. To purchase a plan in the state, you pay a monthly premium. You pay a deductible sometime that is a certain amount out-of-pocket for services covered by your plan before your insurance starts paying. Once you are done with the deductible, you have to pay a percentage of covered expenses (coinsurance).
Dental insurance in New Mexico offers preventive care like routine cleanings and fluoride treatments without paying any deductible or waiting period. Other coverage options like fillings or emergency treatment like retainers and root canals are available with deductible and waiting periods.
Moreover, you needn’t to be of a certain age to become eligible for the dental insurance plan in New Mexico.
Vision Insurance Plans:
In the state, Vision insurance plans are underwritten by Golden Rule Health Insurance Company. These plans are designed to help beneficiaries with coverage for ongoing vision care expenses like routine eye exams, prescription glasses and contact lenses. The coverage is available for people of all ages without any waiting period. Throughout the state, a wide national network of vision service providers are linked together to provide coverage.
Furthermore, vision insurance in the state can be purchased in two ways. Standalone vision insurance plans come with huge range of benefits and great flexibilities that covers glasses, contacts or both.
You may also take the plan as a dental and vision insurance combo. The plan brings seamless access to vision care plan benefits like routine eye exams, discounted prescription glasses and contacts.
Term Insurance Plans:
Term life insurance is a kind of life insurance policy that offers lump sum financial coverage to beneficiary’s family if he or she meets an untimely death. Underwritten by Golden Rule Insurance Company, the plan features an optional Critical Illness Benefit coverage that pays cash benefits to the beneficiaries upon diagnosis of a qualifying illness or death.
Term insurance plans enable beneficiaries to choose from multiple terms and benefit levels. Moreover, you needn’t to go through medical examination to purchase the plan. A person is eligible for coverage until age 75.
Term insurance acts in a very straight forward manner. It provides financial aid to the deceased if he dies before the selected policy term. If the beneficiary has opted for the optional Critical Illness rider and are diagnosed with a qualifying illness, cash benefits are provided according to the terms of your policy.