In New Mexico, as in other states, Medicare Supplement insurance (also known as Medigap) is a form of optional health insurance provided by private insurance companies. Copayments, deductibles, and coinsurance are examples of out-of-pocket expenses not covered by Original Medicare.
In most states, including New Mexico, ten uniform Medigap policy choices are available, each labeled with the letters A through N. (Medigap Plans E, H, I, and J are no longer available for purchase.) Any uniform plan with the same letter name covers the same portion of Original Medicare out-of-pocket costs; for example, Medigap Plan K coverage is the same regardless of where you purchase the program. Other Medigap programs, such as Medigap Plan A (not to be confused with Medicare Part A), cover varying amounts of out-of-pocket costs under Original Medicare. However, although each Medigap plan provides the same coverage as other plans with the same name, costs and availability can differ.
If you want to apply for a Medicare Supplement insurance plan in New Mexico, the six-month Medigap Open Enrollment Period is a good time to do so (OEP). The OEP starts on the first day of the month in which you are both 65 and enrolled in Medicare Part B.
Beneficiaries have the guaranteed problem right to participate in a Medigap plan during the Medigap OEP, which means they are not subject to medical underwriting, have lower out-of-pocket expenses, and are not refused coverage due to pre-existing conditions*.
You can still qualify for a Medicare Supplement insurance plan in New Mexico after the six-month Medigap OEP has expired, but you won't have the same guaranteed problem privileges as before, and plans won't have to approve your application. However, you can also apply with assured approval outside of the Medigap OEP under certain circumstances.