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New Mexico Health Insurance
If you are looking for health insurance, you are likely to get
it in two broad categories: individual and group. Individual insurance
seekers are mostly self-employed, or are employed by a company that
does not have provision for health insurance, or who have a family
and who require individual insurance for their family members. In
case you opt for an individual policy, you will have to pay an annual
premium as well as a deductible for each insured dependent, up to
a base amount. Or if you opt for a group policy instead, you have
to pay an annual premium, co-payments payable at each medical service,
and a deductible payable before the insurer company starts to pay
your legitimate medical bills.
New Mexico allows health insurance companies to turn down your
application for individual insurance because of a medical condition.
In case you have a pre-existing condition, insurers can impose elimination
riders on policies. The insurers can also require exclusion periods
not exceeding six months at the beginning of new individual coverage.
In New Mexico, neither pregnancy nor genetic information can be
considered a pre-existing condition. Individual premium costs cannot
be changed because of changes in health status, but there are no
limits to increases otherwise. Your insurance cannot be cancelled
due to illness.
In New Mexico, no qualified person can be refused group health
insurance or charged more for a policy on account of a health problem.
Life changes concerning family problems, children, marriage, and
job loss can affect your opportunities for group health coverage.
Your new employer may need a waiting period before offering group
health coverage. Pre-existing conditions are set by the new insurer
which can look back at your health records for the six months prior
to insurance coverage. It can then apply an exclusion period not
exceeding six months for fully insured groups on the pre-existing
condition, before providing coverage. If you have had unbroken coverage
of more than 63 days, you qualify for continuous coverage.
Small businesses with two to 50 employees in New Mexico cannot
be refused small group health coverage; their insurance cannot be
cancelled either because of illness in the employee group. New Mexico
regulations require that you be offered several insurance plans.
Annual rise in premium costs has certain limits. You may also purchase
your group coverage through the New Mexico Health Insurance Alliance.
Normally self-employed individuals cannot buy group health insurance
in New Mexico. However, if you and at least one other family member
apply jointly for small group coverage, you can purchase it from
the New Mexico Health Insurance Alliance. For joining professional
associations which offer group health insurance to its members,
one should contact the New Mexico Insurance Division for regulations.
The New Mexico Health Insurance Alliance offers statewide private
health insurance to HIPAA eligible persons, small businesses, and
the self-employed who qualify. New Mexico Medical Insurance Pool
offers individual coverage to residents who have been refused individual
insurance. Medicaid and New Mexi Kids also help low income residents
of the state.
Since selecting the right quotes is not easy, you should do some
research before arriving at a final decision. However, it is certainly
better if you appoint professional health insurance agents and brokers
who can be of great help in this regard.
Prominent health insurance providers in New Mexico are American
Medical Security, Assurant Health (formerly Fortis), Blue Cross
and Blue Shield of New Mexico, Celtic and Security Life.