About 20 percent of New Mexico’s population is without health coverage; That is about 400 thousand people. This is a reflection of the nationwide epidemic of uninsured people. Many of those without health insurance are from working families and are left feeling like there is no affordable coverage available. While it is a daunting task to find low cost insurance in New Mexico it is not impossible. The state has implemented regulations to help protect those with health insurance and others who are seeking coverage. Here is additional details on finding affordable health coverage in New Mexico.
Individual health coverage may be the best option for you. However,if you’re employer is offering a group heath plan it is best to buy this coverage. Individual coverage may cost you more and offer you fewer benefits than a group plan. For example, many individual plans do not offer prescription drug coverage or coverage for pregnancy. It is usually better to get health coverage through a group if you can. You should know that New Mexico carriers also reserve the right to deny you. The states law permits all individual health insurance plans to be medically underwritten, allowing the health insurance carrier an opportunity to review your past and current health history.
New Mexico group health insurance is sold to businesses and organizations in New Mexico who then provide coverage to their employees and members. These group and business health insurance plans are inexpensive compared to individual or family coverage because the cost of medical services can be spread among a larger group of people. Since the risk associated with small group health insurance is lower for the insurance company, they are also more willing to underwrite policies for those with pre-existing conditions. In fact, all small group health insurance plans are required to be guaranteed issue according to federal law.
New Mexico ranks second in the nation, along with Florida, for the highest percentage of children without health insurance. Finding and keeping health insurance is essential; It’s one of the best ways to protect your family’s health. Normally, family health insurance plans consist on an individual (usually a parent or other adult) adding immediate family members to their policy. Affordable family health insurance in New Mexico usually costs less than having a separate health insurance policy for each person. Also, a family health insurance plan usually has a higher coverage cap or lower combined deductible than an individual one.
Short term coverage is offered in New Mexico so you’ll never have to go without insurance. This health coverage that is purchased for only a short period of time. Most companies who offer this type will allow you to choose from coverage lengths ranging from 30 days to 12 months. Short term medical insurance coverage can protect you in the event of an unexpected illness or injury. Unlike many health insurance plans out there, short term health insurance allows you to choose your doctors and hospitals and pays for all covered expenses once your deductible and coinsurance amounts have been met.
When attending college in New Mexico, it is very important to have student health insurance. Many colleges and universities require proof of health insurance for students; even if yours does not, cheap student health insurance will probably end up paying for itself. While you may be young and healthy now, sudden illness and accidents can happen. In that case, you will be very happy if you have college student health insurance. Don’t end up graduating with medical debt in addition to student loans!