Best Cheap Health Insurance in New Mexico (2026)
Blue Cross Blue Shield sells the best health insurance in New Mexico. Gold plans from BCBS start at $354 per month before discounts.
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Best and cheapest health insurance in New Mexico
Cheapest health insurance companies in New Mexico
Molina Healthcare of New Mexico has the cheapest health insurance plans in New Mexico, with Gold plans starting at $465 per month before discounts.
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Affordable health insurance in New Mexico
Company |
Cost
| |
|---|---|---|
| Molina Healthcare of New Mexico | $465-$684 |
| BlueCross BlueShield of New Mexico | $515-$763 |
| Presbyterian Health Plan, Inc. | $575-$1,046 |
| UnitedHealthcare of New Mexico, Inc. | $664-$856 |
- Molina has the cheapest Gold plan for 93% of the population of New Mexico. Their rates are the cheapest in rural areas as well as cities, including Carlsbad, Las Cruces and Albuquerque.
- Blue Cross Blue Shield (BCBS) isn't the cheapest option, but it offers a wide network of physicians, hospitals, urgent care facilities and treatment centers, making it easy to seek coverage throughout the state.
- Presbyterian has similar coverage but offers a large network of hospitals throughout the state, all of which accept Presbyterian Health Plan insurance.
Best extra perks: Presbyterian Health
Presbyterian plans are a good option if you want extra perks like discounts on gym memberships.
Presbyterian Health offers good coverage throughout the state, including at Presbyterian Hospital locations. They have hospitals in Albuquerque, Santa Fe, Rio Rancho, Española, Ruidoso, Tucumcari, Socorro and Clovis, but plans are accepted at most major healthcare facilities in the state.
They also offer perks, including caregiver support that connects caregivers with resources for stress relief, training and support groups. You may also be able to get free or low-cost gym memberships at participating locations.
However, if you're looking for the cheapest coverage or the lowest out-of-pocket maximum in New Mexico, you may be better off with Molina or BlueCross BlueShield.
Best health insurance companies in New Mexico
Blue Cross Blue Shield (BCBS) sells the best health insurance plans in New Mexico.
BCBS has a 3-out-of-5 star rating from HealthCare.gov. That's not the highest rating in the state, but BCBS is still the best for most people because of its cheap rates and large provider network. Plus, Blue Cross Blue Shield of New Mexico got a high 5-star rating for member experience, which means most of its customers are happy with their plans.
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Best-rated health insurance companies in New Mexico
Company |
ACA rating
|
VP rating
|
|---|---|---|
| Molina Healthcare of New Mexico | ||
| BlueCross BlueShield of New Mexico | ||
| UnitedHealthcare of New Mexico, Inc. | N/A | |
| Presbyterian Health Plan, Inc. |
Not only does a BCBS plan have cheap rates, it also lets you more easily get medical care. Choosing a company with a large network, like Blue Cross Blue Shield, makes it more likely that the doctors you want to see will take your coverage. Most doctors and hospitals take BCBS plans, which gives you more flexibility to choose where to get health care. In New Mexico, the only kind of plans available are HMOs, which means you have to use certain doctors to have coverage.
Blue Cross Blue Shield is the most popular health insurance company in New Mexico. 61% of health insurance plans in the state come from BCBS.
BCBS also has excellent customer satisfaction. Health Care Service Corporation, the parent company of Blue Cross Blue Shield of New Mexico, gets fewer complaints than expected for a company its size.
How much does health insurance cost in New Mexico?
Health insurance in NM costs $749 per month, on average, but you could pay an average of $143 per month if you get discounts based on your income.
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- In New Mexico, Gold plans are often cheaper than Silver plans and are available from more insurance companies than Bronze plans. Gold plans also give you more coverage than Silver or Bronze, so they're a better option for most people.
- Your age also impacts how much you pay for health insurance. You'll usually pay less when you're younger since it's less likely that you'll need expensive medical care.
Health insurance discount changes in New Mexico for 2026
Health insurance in New Mexico might cost around $143 per month , on average, if you can get discounts based on your income.
For people who can get subsidies, rates could increase from about $126 in 2025 to $143 in 2026. That's because discount levels are changing for 2026.
Since 2021, shoppers on HealthCare.gov and state marketplaces have gotten higher discounts called "expanded subsidies." These discounts expire at the end of 2025, and while you may be able to get discounts based on your income, they won't be as good as they were before.
You can use subsidies to buy a Bronze, Silver or Gold plan from any company in New Mexico. And if you can get subsidies and you choose a Silver plan, you might also be able to another discount that lets you pay less when you go to the doctor.
Health insurance rates in New Mexico after subsidies (2025 vs. 2026)
Income | 2025 rate | 2026 rate | Difference |
|---|---|---|---|
| $30,000 | $0 | $0 | N/A |
| $40,000 | $98 | $78 | -20% |
| $50,000 | $255 | $237 | -7% |
| $60,000 | $422 | $396 | -6% |
| $70,000 | $496 | $623 | 26% |
Average cost after subsidies for a single 40-year-old with a Benchmark Silver plan.
- Who can get subsidies? To qualify, you have to make between $15,650 and $62,600 as a single person or $32,150 and $128,600 as a family of four. Your subsidy will be higher if you make less money.
- How do subsidies work? You can use your subsidy to help you buy a plan from any company. Subsidies can be used for Bronze, Silver or Gold plans, but they can't be used on Catastrophic plans.
- How much do you save? You can use ValuePenguin's subsidy calculator to find out how much a subsidy will lower your health insurance rate.
Cheap New Mexico health insurance plans by city
Molina Healthcare of New Mexico sells the cheapest health insurance in Albuquerque and Rio Rancho.
Presbyterian sells the cheapest plans in Santa Fe. But in the rest of the state, including Las Cruces and also most rural areas, Molina is the cheapest company. In fact, Molina sells the cheapest health insurance for nearly all of New Mexico's population.
Cheapest health insurance plans by NM county
County | Cheapest plan | Monthly rates |
|---|---|---|
| Bernalillo | Molina Gold Low-Cost Generic Rx | $465 |
| Catron | Molina Gold Low-Cost Generic Rx | $565 |
| Chaves | Molina Gold Low-Cost Generic Rx | $565 |
| Cibola | Molina Gold Low-Cost Generic Rx | $565 |
| Colfax | Molina Gold Low-Cost Generic Rx | $565 |
Cheapest Gold plan with rates for a 40-year-old
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Best health insurance by level of coverage
The best health insurance plan for you depends on your health needs, your finances and the plan options in your area.
Because Gold plans are so affordable in New Mexico, they're the best choice for most people. A Gold plan will also give you the best coverage for your medical costs. However, if you have a low income, you may get a better deal with a Silver plan because of the cost-sharing reductions discounts, or you could get free health insurance through Medicaid.
Gold plans: Best coverage in New Mexico
| Gold plans pay for about 80% of your medical care. |
Gold plans cost an average of $749 per month in New Mexico.
A Gold health insurance plan has the best medical benefits in New Mexico. This means you'll have the lowest costs when you need medical care. Usually, you would pay more for health insurance to get the good coverage of a Gold plan. However, in New Mexico, Gold plans usually have the cheapest rates of any plan tier.
Silver plans: Moderate-coverage health insurance
| Silver plans pay for about 70% of your medical care. |
In New Mexico, Silver plans cost $800 per month, on average.
Silver health insurance plans give you coverage that's between what you'll get with either a Bronze or Gold plan. A Silver plan will pay about 70% of your medical bills, while you pay 30%.
Because they're more expensive than Gold plans in New Mexico, Silver plans aren't the best option for most people. But if you have a low income, Silver plans might make sense because you can get an extra discount that makes your medical care cheaper by covering a larger share of your bills.
Turquoise and Clear Cost plans in New Mexico
New Mexico has two special types of plans that are available in both Gold and Silver.
- Turquoise: These are special Gold or Silver plans for people with low incomes. Compared to other Gold or Silver plans, you'll pay less with a Turquoise plan when you go to a doctor or need other medical care. You can get a Turquoise plan if you make less than $45,180 per year as an individual or $93,600 per year as a family of four.
- Clear Cost: These plans have fixed costs for when you go to the doctor. This can make it easier to understand how your medical insurance works and also lets you focus on other metrics, such as customer service and which doctors accept the coverage, when comparing plans.
Bronze plans: Basic plans with low coverage
| Bronze plans pay for about 60% of your medical care. |
Bronze plans cost $531 per month, on average, in New Mexico.
Bronze plans cover only about 60% of your medical care. However, if you qualify for discounts, you may be better off buying a Silver plan. On average, people who qualify for subsidies could pay $143 per month . You'll have lower medical bills when you do get care.
Bronze plans are often a good choice if you're young, generally healthy and don't go to the doctor often.
Cheap or free health insurance in New Mexico if you have a low income
If you can't afford medical insurance because you have a low income, you might qualify for Medicaid. If you can't get Medicaid, a Silver plan might be a good option because you could get extra discounts that make medical care cheaper.
Medicaid in New Mexico
New Mexico's Medicaid program offers low-cost or free health insurance for people who have a low income. New Mexico has expanded its Medicaid eligibility. So you can qualify for Medicaid if you earn less than about $22,000 per year as a single person. If your family has four people, you have to earn less than about $44,000 per year.
Use cost-sharing reductions for cheaper medical care
If you don't qualify for Medicaid, consider buying a Silver plan. You can get cheaper rates with monthly subsidies, and you might also get a discount that makes your medical care cheaper.
These are called cost-sharing reductions, and they're only available on Silver plans. They make your deductible, coinsurance and out-of-pocket maximum lower, so you pay a lower share of your medical bill. If you can get cost-sharing reductions, your Silver plan might have better coverage than a Gold plan.
To get cost-sharing reductions, you have to make between $15,650 and $39,125 as a single person or between $32,150 and $80,375 per year as a family of four.
Are health insurance rates going up in NM in 2026?
New Mexico health insurance rates went up by an average of 24% from 2025 to 2026.
Bronze plans had the smallest change, decreasing in cost by 1% for an average rate of $531. Gold plans, the most popular plan level in NM, went up the most, with a 46% jump in cost. Since 2022, the cost of a Gold plan has gone up 89%.
Bronze
Silver
Gold
Year | Cost | Change |
|---|---|---|
| 2022 | $413 | – |
| 2023 | $452 | 9% |
| 2024 | $497 | 10% |
| 2025 | $538 | 8% |
| 2026 | $531 | -1% |
Monthly costs are for a 40-year-old. Expanded Bronze plans are included in 2024, 2025 and 2026 averages, when they're offered.
Bronze
Year | Cost | Change |
|---|---|---|
| 2022 | $413 | – |
| 2023 | $452 | 9% |
| 2024 | $497 | 10% |
| 2025 | $538 | 8% |
| 2026 | $531 | -1% |
Monthly costs are for a 40-year-old. Expanded Bronze plans are included in 2024, 2025 and 2026 averages, when they're offered.
Silver
Year | Cost | Change |
|---|---|---|
| 2022 | $480 | – |
| 2023 | $551 | 15% |
| 2024 | $577 | 5% |
| 2025 | $635 | 10% |
| 2026 | $800 | 26% |
Monthly costs are for a 40-year-old.
Gold
Year | Cost | Change |
|---|---|---|
| 2022 | $397 | – |
| 2023 | $443 | 12% |
| 2024 | $477 | 8% |
| 2025 | $513 | 7% |
| 2026 | $749 | 46% |
Monthly costs are for a 40-year-old.
Why is health insurance expensive in NM in 2026?
Health insurance rates are going up largely because of higher health care costs.
When it costs more to go to the doctor or get medication, your medical insurance company is the one that pays most of the extra amount. Because many companies have hundreds of thousands or even millions of customers, the higher cost for health care adds up. To make up for it, rates go up for everyone.
In New Mexico, health insurance companies raised rates by about 24%, on average.
Additionally, the high cost and popularity of weight-loss drugs, such as Ozempic and Wegovy, are pushing up health insurance rates. These medications can cost a lot of money, which means they're expensive for health insurance companies to cover. Companies have to raise rates to afford the added cost.
Rates are also higher in 2026 because of changes to health insurance discounts called subsidies. For the past five years, discounts have been bigger because of what were called "enhanced subsidies." However, these larger discounts expire at the end of 2025. Your savings likely won't be as big in 2026.
How to prepare for the 2026 rate increases
- Get quotes from other companies. If your plan's rates go up, take a look at the other companies and plans in your area and see if there's a cheaper option. Just make sure the coverage still works for you and that your doctors take the plan before you buy it.
- See if lower-tier plans are cheaper. For 2026, Gold plans were the cheapest plan tier in New Mexico, but things may change next year. Check the costs for other plan tiers and see if Silver or Bronze plans are cheaper. If you opt for a Bronze plan, you can also get a health savings account (HSA) to help you save for medical costs.
- Check if you get discounts. Marketplace discounts might not be as big for 2026, but they'll still help you save if you can get them. If you have a low income, use a subsidy calculator to see if you can save on health insurance.
- See if you can get a Turquoise or Clear Cost plan. Turquoise plans can help you get cheaper medical care by lowering your deductibles and coinsurance levels. They're available if you make up to $45,180 per year as an individual. Clear Cost plans give you straightforward, fixed medical costs.
- Find out if you can get Medicaid. If you make around $22,000 per year as an individual, you can get Medicaid in New Mexico. Medicaid is free health insurance from the government, and it makes your health care either free or very cheap.
To buy Affordable Care Act (ACA) plans, also called "Obamacare" plans, in New Mexico, you have to go to BeWellNM, the state's marketplace for health insurance. You can also buy a plan directly from a company, but you won't be able to get rate subsidies or cost-sharing reductions.
You can usually buy health insurance between Nov. 1 and Jan. 15 each year. This is called open enrollment. If you have recently moved, had a baby, gotten married, lost coverage from your job or had another qualifying life change, you might be able to buy coverage outside of this time period.
ACA plans don't use your health to determine your rates. Companies can only consider five factors to determine how much you pay for a plan:
- Your age
- The plan tier you buy
- Where you live
- How many people you want on your plan
- Whether or not you smoke or use tobacco
This means that, even if you have a pre-existing condition, you can buy a plan. You won't be charged more because of your health, and you won't be denied coverage.
Short-term health insurance in NM
Currently, you can't buy short-term health insurance in New Mexico. Temporary coverage is technically allowed in the state, but the strict rules mean no company is offering plans.
If you need coverage for a short time, like if you're between jobs, you can buy a plan on BeWellNM. You can cancel the plan at any time if you get other coverage.
Health insurance enrollment by income level in New Mexico
More than half of New Mexicans with a plan from BeWellNM make less than $37,651.
People with lower incomes are more likely to drop their coverage entirely if rates go up. New Mexico is trying to make health insurance cheaper by offsetting the lower federal discounts with their own assistance plan. This should help New Mexicans keep their insurance rather than letting it lapse.
Enrollment by income
Income | % of total enrollment |
|---|---|
| Less than $15,060 | 2% |
| $15,060 to $20,783 | 7% |
| $20,784 to $22,590 | 6% |
| $22,591 to $30,120 | 22% |
| $30,121 to $37,650 | 17% |
Enrollment in 2025 marketplace plans made during the 2024-2025 Open Enrollment period. Total may not be 100% due to rounding
Frequently asked questions
How much is health insurance per month in New Mexico?
Health insurance in New Mexico costs $749 per month, on average, for a Gold plan. Your rates will depend on how old you are, where you live, the company you pick, the plan level you choose and how many people you want your plan to cover. You'll also pay more if you smoke or use tobacco.
What is Obamacare called in New Mexico?
New Mexico's state health insurance website is called BeWellNM. You can buy Affordable Care Act (ACA) plans, sometimes called "Obamacare" plans, on the site. You can also buy plans directly from insurance companies. But if you get a plan straight from a company, you can't get discounts for having a low income.
What is the monthly income limit for Medicaid in New Mexico?
In New Mexico, you can get Medicaid if you make less than about $1,833 per month if you're single. If you have a family with four people, the limit is about $3,667 per month. You might be able to make more and still qualify if you're elderly or blind, you have a disability or you’re pregnant.
Is $200 a month expensive for health insurance in NM?
$200 per month for health insurance is pretty cheap in New Mexico. You may get a plan for that price or less if you have a low income and you can get discounts. If not, you'll likely pay more. On average, a Gold plan in New Mexico costs $586 per month for a 21-year-old or $749 per month for a 40-year-old. Gold plans have the best coverage in NM and also the cheapest average rates. They're usually cheaper than Silver plans.
Will I be eligible for health insurance subsidies in NM in 2026?
You may be eligible for subsidies if you meet the income requirements. For individuals, you'll qualify if you make between $15,650 and $62,600. For couples, you'll qualify if you make between $21,150 and $84,600. For a family of four, you'll qualify if you make between $32,150 and $128,600. Though the federal subsidies you may qualify for might not be as high as they were in 2025, the New Mexico Premium Assistance (NMPA) program could help you lower your rates further.
Keep in mind that these are the current requirements for 2026. They may change in the future as legislation changes.
Methodology
New Mexico health insurance rate data for 2026 is from BeWellNM, New Mexico's state health insurance exchange. ValuePenguin used BeWellNM data to find average rates for different plan tiers, geographic locations and family sizes.
Rates
Rates are for a 40-year-old with a Gold plan, unless another plan level is called out. Rates for Bronze plans include regular and Expanded Bronze plans for 2024, 2025 and 2026, when the plans are available. Your costs and plan options will vary; plans aren't always available in all parts of a state or county.
Subsidies
Rates after subsidies are estimates for a 40-year-old with a Benchmark Silver plan and are based on how subsidies were structured before 2021. Prices are calculated using KFF's rates for full-price Benchmark plans, federal poverty levels (FPLs), IRS rules about premium tax credits and Congressional reports about expanded tax credits. The total cost in the state uses rates calculated by income, which are weighted using CMS data on the incomes of those who purchased plans during last year's open enrollment. The median was used for each income range. Unknown incomes were excluded from the calculations. Incomes of 100% of the federal poverty line and 500% of the federal poverty line were assumed for enrollees who earn less than 100% FPL and more than 500% FPL, respectively. Information about state subsidies, when available, was sourced from state marketplaces.
Ratings
ValuePenguin's experts rank companies based on cost, coverage options, customer satisfaction and unique value. Ratings are out of 100 possible points. ACA ratings show how the company performs in New Mexico for medical care, member experience and plan administration. This 2026 plan quality data from CMS is based on data from last year. Ratings are not available for new plans or plans with low enrollment.
More sources
Enrollment trends, including plan selections by tier and enrollment by income, are from CMS data for the 2025 open enrollment period. Info about the most popular plan level is from KFF.
Other sources include S&P Global Capital IQ and the National Association of Insurance Commissioners (NAIC).
Insurance Writer
Cate Deventer is a ValuePenguin writer who specializes in health insurance, Medicare, auto and home insurance. She's been a licensed insurance agent since 2011.
She started her insurance career working as a customer service agent for State Farm. She later moved to an independent agency, where she worked with several insurance companies and hundreds of clients. She quoted policies, filed claims and answered insurance questions. In 2021, she pivoted her career and began writing about insurance for Bankrate. She moved to ValuePenguin in 2023 and began writing about health insurance and Medicare.
Cate has a passion for helping readers choose insurance to fit their needs. She enjoys knowing that her research and knowledge help people choose insurance products that make a positive difference in their lives.
How insurance helped Cate
Cate used her health insurance knowledge to navigate a surgery in 2023. Understanding how her policy worked let her focus on recovery instead of worrying about bills.
Expertise
- Health insurance
- Medicare & Medicaid
- Auto insurance
- Home insurance
- Life insurance
Credentials
- Licensed Life, Accident & Health Insurance Agent
- Licensed Property & Casualty Insurance Agent
Referenced by
- CBS
- NBC
- Wall Street Journal
Education
- BA, Theatre, Purdue University
- BA, English, Indiana University
Editorial note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
