New Mexico Student Health Insurance

If you’re heading off to a college or university in the Land of Enchantment, have you made plans for health insurance? Maybe you’re wondering why you need insurance if you’re young and healthy. But even as a student, it’s important to understand your choices for health insurance in New Mexico. Learn more about available options and how to enroll.

What to Consider When Searching for Student Health Coverage in New Mexico

Here are the key factors for students in New Mexico:

• Are you a resident? In-state students may find it easier to remain on their parents’ plan.
• Dependent status? If claimed as a dependent, you can stay on your parents’ plan until age 26. If you’re turning 26 soon, you may want to find your own health insurance coverage.
• Stay on parents’ plan or get your own? Staying may save money, but you only qualify for ACA subsidies if you buy your own.
• Cost vs coverage tradeoff? Choose a plan that fits your expected healthcare needs—more benefits usually mean higher premiums.
• Skip insurance? Risky—lack of coverage could result in overwhelming medical bills.

How Do You Get Covered Under Your Parents’ Plan?

If you’re under 26, you can stay on your parents’ plan—whether you’re studying in-state or out-of-state.

Be sure to check if local doctors or hospitals are in-network to avoid high out-of-pocket costs.

Enrollment rules:

• ACA Marketplace plans: Dependents can be added during Open Enrollment or a Special Enrollment Period.
• Employer-sponsored plans: Similar rules apply through the employer’s designated periods.

How Do You Get Covered Through Your School in New Mexico?

Many schools require students to have health insurance and may offer plans that meet minimum coverage standards.

Examples:

• University of New Mexico (UNM): Offers a Student Health Insurance Plan administered by Blue Cross Blue Shield of New Mexico (AcademicBlue) to full-time students. Benefits include national coverage with a cost-sharing structure (typically 80/20).
• New Mexico State University (NMSU): Offers an optional student health plan to eligible students taking 6 or more credit hours.

ACA Health Plans in New Mexico

The Affordable Care Act (ACA) allows individuals and families to buy health insurance through the federal Marketplace. ACA plans offer essential health benefits, free preventive care, and protection for preexisting conditions.

Subsidies may be available to reduce premium costs. You can check your eligibility using our ACA Subsidy Calculator.

ACA plans are offered in different metal tiers:

• Bronze: Low monthly premiums, higher out-of-pocket costs; ideal for minimal healthcare usage.
• Silver: Moderate costs; eligible for cost-sharing reductions (CSRs).
• Gold: Higher monthly premiums with lower out-of-pocket costs; best for frequent healthcare users.
• Platinum (if available): Highest premiums, lowest out-of-pocket costs

Enrollment can be done via Healthcare.gov or New Mexico’s health insurance exchange at BeWellnm.

Medicaid or CHIP in New Mexico

Medicaid is a government-funded health insurance program that provides free or low-cost coverage to eligible low-income individuals and families. CHIP (Children’s Health Insurance Program) offers affordable coverage for children in families that earn too much for Medicaid but can’t afford private insurance.

New Mexico Programs:

• Medicaid: Available via YesNM.com, the state’s Medicaid portal.
• New MexiKids (CHIP): Covers children and teens under 19 who meet income and residency criteria.

Other Options for Coverage in New Mexico

1. Short-Term Medical Plans

Short-term health insurance provides fast, flexible solution ideal for recent grads or those aging off a parent’s plan. Offers next-day coverage and national networks.

Features: Preventive care, urgent care copays, telemedicine, prescription discounts, quick signup.

2. Supplement Plans

Supplemental insurance fills gaps left by primary coverage. Helpful for students on high-deductible plans.

Types: Accident, critical illness, hospital indemnity. Offers year-round enrollment.

3. Dental and Vision Insurance Plans

Bundle with your medical coverage for comprehensive care and savings on routine services and eyewear.

4. Healthcare Sharing Ministry Programs

Faith-based plans are community-driven alternatives to traditional insurance. Members share each other’s medical costs.

5. Fixed Benefit Medical Insurance

Fixed Benefit medical plans pays a set cash amount per service. Great supplement to primary coverage, especially for those on a tight budget.

Understanding Health Insurance Costs

When selecting a plan, understand these key cost terms:

• Premium: Monthly payment to maintain your plan.
• Deductible: What you pay before insurance kicks in.
• Copayment (Copay): Fixed amount per visit or service.
• Coinsurance: Your share of costs after meeting the deductible.
• Out-of-Pocket Maximum: The most you’ll pay per year for covered services.
• In-Network vs. Out-of-Network: In-network providers cost less.

Refer to this glossary for more insurance definitions.

Next Steps

If you’ve decided you need health insurance, compare plans and sign up before your semester begins. Evaluate coverage levels, premiums, and provider networks to make the best choice for your health—and your wallet.

evels, premiums, and provider networks to make the best choice for your health—and your wallet.