Affordable Health Insurance in New Mexico
Affordable Health Insurance in New Mexico

With a population of more than one million, the state is keen on protecting and improving the health status of its residents. As such, various state measures enable you to have high chances of purchasing affordable health insurance in New Mexico.

Certain bodies in New Mexico protect consumers and insurers alike, contribute to reducing the number of uninsured individuals, and work for the improvement of the overall health status within the state. 

Protective Bodies and Agencies in the State
1. The Insurance Division of New Mexico Public Regulation Commission is in charge of regulating the health insurance industry within the state. It enables consumers to access reliable insurance products that are simultaneously provided or underwritten by licensed, credible, and stable health insurance companies. It also ensures fraud deterrence and prevention in the health insurance industry.
The New Mexico Department of Health aims to protect and uphold public welfare through promoting health and sound health policy, preventing disease and disability, and improving the good status of health services systems.
3. The New Mexico Health Policy Commission is an agency in the state that provides independent research and guidance regarding health policy issues in the state.
4. The New Mexico's Human Services Department manages programs and other coverage alternatives for pregnant women, children, working disabled individuals, and employees of nonprofits and small businesses.
You may approach these bodies for a more in-depth knowledge and understanding of enforced regulations and health insurance choices in the state. These also provide educational materials for consumers, which you may use as essential guides to purchasing affordable health insurance in New Mexico.
Understanding Coverage Options

Several health plans are sold in the private-market, including individual and family, group, and student health insurance. If you are financially capable of acquiring coverage from the private market and not from public health alternatives, there are two general classifications of getting insured -- through group or individual health insurance.

1. Although group plans are purchased in the private market; if you are a New Mexico employee, your access to getting group health insurance is through enrolling in the plan offered by your employer. Your eligibility to obtain coverage does not rely on your health status, which means that state laws prohibit employers from rejecting your application or charging additional fees based on health status grounds.

If you’re a student and you are no longer covered by your parents’ health plan, you may obtain student health insurance from the group plan that is sponsored by your school. Family coverage may also be obtained if the employer-sponsored group plan extends coverage to dependents.

Group plan rates are generally lower than individual plans, because certain percentages are shouldered by the employer or school. However, these are not as capable as individual plans in catering to your coverage preferences. Group plans give more emphasis on the group as whole than on the unique needs of each member.

2. Individual plans are individually set up and directly purchased from a private health insurance company or insurer. Usually, people purchase it if they prefer a more individualized coverage than what their current group policy provides. Your eligibility will be based on your health status, and the health insurance company has the discretion to refuse to sell you a policy, apply added charges, or impose elimination riders due to health status grounds.

This is also called family health insurance because you may pay for an individual policy that covers your dependents. If the school-sponsored group plan is also too limited, you can choose to obtain student health coverage through an individual policy at affordable rates.
As stated earlier, rates may vary due to several factors such as your health status and age. As such, an individual policy is usually an affordable health insurance in New Mexico if you purchase it while you and your family are still young and healthy.
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Affordable Health Insurance in New Mexico