New Medicare Health Insurance Companies for 2023 in New Mexico

The Medicare landscape in New Mexico is constantly changing. Every October, Medicare Advantage (Part C) plans and Part D Prescription Drug plans are released for the upcoming year.

In New Mexico for 2023 there are 14 private health insurance companies which offer Medicare Advantage plans. 1 of these companies are new to the New Mexico Medicare marketplace for 2023.

There are 9 private health insurance companies in New Mexico which offer Medicare Part D Prescription Drug plans. All of these insurance companies are returning to the New Mexico Part D market for 2022 and there are no new insurance companies offering plans.

Below is a summary of new and returning health insurance companies offering Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D) in New Mexico.

New Mexico Medicare Advantage (Part C) Insurance Companies

New Insurance Companies Offering Plans for 2023

 

Returning Insurance Companies Offering Plans for 2023

New Mexico Medicare Prescription Drug (Part D) Insurance Companies

New Insurance Companies Offering Plans for 2023

There are no new insurance companies offering Medicare Prescription Drug plans for 2022. The existing insurance companies listed below are returning to the New Mexico Part D market.

Returning Insurance Companies Offering Plans for 2023

More About Private Health Insurance Companies Offering Medicare Plans

The Federal and State governments allow private health insurance companies to offer Medicare Advantage and Prescription Drug plans. Medicare Advantage plans combine Original Medicare Part A and Part B into a single plan which typically include other benefits such as dental, vision, hearing, prescription drugs, and more. Standalone Part D Prescription Drug plans are also offered and can be combined with Original Medicare, Supplement plans, or Medicare Advantage plans which do not include Part D benefits. The New Mexico government is responsible for regulating insurance companies which offer plans, while the federal government is more responsible for regulating Part A and B benefits and plan design structure.

More About Our Analysis

Information shown regarding health insurance companies in New Mexico’s Medicare marketplace is based on our evaluation of HIOS plan ID and issuer ID data available from medicare.gov. An insurance company is considered new to the market if their issuer ID is new and was not present the previous year. Insurance companies returning to the market are shown if their issuer ID was present last year and is also present this year. We do not show insurance companies who have exited the market, meaning their issuer ID was present last year but is no longer present this year.


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