How Much Is Health Insurance in New Mexico Per Month?
Discover the true cost of health insurance in New Mexico and how to find affordable coverage tailored to your needs.
Health insurance costs in New Mexico vary significantly. The monthly premium an individual or family pays depends on several factors and the specific health plan chosen. Understanding these variables is important for accurately estimating potential expenses.
Factors Influencing Monthly Premiums
Several factors influence monthly health insurance premiums. An individual’s age plays a role, with premiums generally increasing as people get older. For example, a 60-year-old’s average Bronze plan premium can be significantly higher than a 21-year-old’s.
Geographic location within New Mexico also affects costs; average Bronze plan premiums for a 30-year-old can range from approximately $345 in Bernalillo County to about $525 in rural counties like Catron or Chaves. Household size is another consideration, as adding dependents increases the total premium.
The selected health plan type, including its metal level and network structure, also impacts the monthly cost. New Mexico prohibits insurers from imposing tobacco surcharges in the individual health insurance marketplace, meaning tobacco users will not face additional premium costs.
Average Monthly Costs in New Mexico
Average monthly health insurance costs in New Mexico vary by age, plan metal level, and coverage type (individual or family). For example, in 2025, a 40-year-old’s average Gold plan was about $513 per month. A 30-year-old’s average Bronze premium was $433, Silver averaged $521, and Gold averaged $422.
Premiums increase with age; the average Bronze premium for a 21-year-old was $382, rising to $488 for a 40-year-old, and $1,036 for a 60-year-old. Silver plans consistently cost about 20% more than Bronze plans, while Gold plans were roughly 3% lower than Bronze in 2025 data.
Family costs are cumulative based on each member’s age and plan type. A family of four can expect significantly higher total premiums than an individual.
Understanding Plan Types and Their Costs
Health insurance plans are categorized into different “metal levels” based on how costs are shared between the plan and the enrollee, impacting both monthly premiums and out-of-pocket expenses. Bronze plans typically feature the lowest monthly premiums but have higher out-of-pocket costs, such as deductibles, copayments, and coinsurance. Conversely, Platinum plans come with the highest monthly premiums but offer the lowest out-of-pocket costs when medical care is needed. Gold plans generally have high monthly premiums but low deductibles and out-of-pocket costs.
Silver plans represent a middle ground, providing moderate monthly premiums and moderate out-of-pocket costs. These plans are particularly relevant because they are the only metal level eligible for cost-sharing reductions, which can further reduce deductibles, copayments, and coinsurance for eligible individuals.
Beyond metal levels, health plans also use different network types that influence both cost and provider choice. Health Maintenance Organizations (HMOs) generally have lower premiums but require members to choose a primary care provider and obtain referrals for specialists. Preferred Provider Organizations (PPOs) offer more flexibility in choosing providers, including out-of-network options, often at a higher premium. Exclusive Provider Organizations (EPOs) blend features of both, typically offering a defined network without requiring referrals.
Reducing Your Monthly Costs: Financial Assistance
Financial assistance is available to help New Mexico residents manage health insurance costs. Premium tax credits, also known as subsidies, directly reduce the monthly premium. Eligibility for these tax credits is based on household income relative to the Federal Poverty Level (FPL). For 2025, individuals and families with incomes between 100% and 400% of the FPL are generally eligible, with no upper income limit if the benchmark plan cost exceeds 8.5% of household income.
Cost-sharing reductions (CSRs) are another form of assistance, lowering out-of-pocket expenses like deductibles, copayments, and coinsurance. Unlike premium tax credits, CSRs are only available for individuals enrolled in a Silver-level plan who meet specific income thresholds, typically between 100% and 250% of the FPL.
New Mexico also has a state-funded premium assistance program, which supplements federal subsidies to further lower costs for those with incomes up to 400% of the FPL. Many New Mexicans receiving subsidies may pay very low premiums, sometimes $10 or less per month. Residents can determine eligibility by applying through New Mexico’s health insurance marketplace.
Finding and Comparing Health Insurance Plans
New Mexico residents can find and compare health insurance plans through several avenues. The primary resource for individual and family plans, and where federal and state subsidies are accessible, is beWellnm.com, New Mexico’s state-based health insurance marketplace. On this platform, individuals can input household and income information to receive estimated costs, including applicable premium tax credits. The marketplace allows for side-by-side comparison of various plans.
While the marketplace is the central hub for subsidized plans, some health insurance companies offer plans directly outside the exchange. However, federal premium tax credits and cost-sharing reductions are typically not available for plans purchased directly from an insurer outside the official marketplace.
Licensed insurance brokers or agents can also provide assistance. These professionals can help individuals navigate options, understand plan details, and enroll in suitable coverage.