Best Cheap Health Insurance in New Mexico 2024

BlueCross BlueShield has the cheapest Gold health insurance plan in New Mexico, which costs $323 per month.

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In New Mexico, Gold health insurance plans have cheap rates and good coverage. This is a difference from most other states, where Silver plans are usually the best deal.

BlueCross BlueShield has the best rates for Gold plans, averaging $451 per month across the state. In contrast, the company’s Silver plans cost more, at an average of $577 per month.

Cheapest companies for health insurance in NM

BlueCross BlueShield is the most popular health insurance in New Mexico, with nearly half of the policies in the state. It’s also highly rated with four out of five stars from ValuePenguin's editors.

How much does health insurance cost in New Mexico?

In New Mexico, the average cost of health insurance across all metal tiers is $466 per month for a 40-year-old.

Cost of health insurance in New Mexico

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A Silver plan costs an average of $100 more per month than a Gold plan, even though a Gold plan pays for more of your medical costs.

Your health insurance rates increase as you age, no matter what plan tier you choose. For example, a 40-year-old pays $104 more per month than a 21-year-old for a Gold plan in New Mexico. And a 60-year-old pays $140 more per month than a 40-year-old.

Cheapest health insurance plans in NM

BlueCross BlueShield of New Mexico has the cheapest insurance plans in the state for both Silver and Gold levels of coverage.

Cheapest plan
Monthly cost
Bronze Presbyterian Health Plan Bronze 9450 $371
Expanded bronze Presbyterian Health Plan Bronze Select 6800 $315
Silver BCBS Blue Community Silver HMO 203 $399
Gold BCBS Blue Community Gold HMO 205 $323

Monthly costs are for a 40-year-old.

Presbyterian Health Plan is the only company selling Bronze and Expanded Bronze plans in New Mexico. So you’ll have to use this company if you want the Bronze level of coverage.

Plan options change by county, so these more affordable health insurance policies may not be available where you live.

Finding the best health insurance coverage in New Mexico

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 a good 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 program, or you could get free health insurance through Medicaid.

Gold plans: Best coverage 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. Typically, you would pay more for health insurance to get the good coverage of a Gold plan. However, in New Mexico, Gold plans have cheap rates.

Silver plans: Moderate-coverage health insurance

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%.

Silver plans are the only tier where you can get improved benefits if you have a low income. If you qualify for cost-sharing reductions, a Silver plan will pay up to 94% of your health care costs.

Bronze and Expanded Bronze plans: Basic plans with low coverage

Bronze plans are often the cheapest option in many states because they pay for a smaller portion of your medical costs. A typical Bronze plan covers about 60% of your health care costs, and an Expanded Bronze plan covers about 65%.

Medicaid: Best if you have a low income

New Mexico’s Medicaid program provides free to low cost health insurance for those who have a low income. New Mexico has expanded its Medicaid eligibility. So you can qualify for Medicaid if you’re an individual earning less than about $20,000.

Are health insurance rates going up in New Mexico?

In 2024, health insurance costs in New Mexico are going up by an average of 8% across all plan tiers. That means you'll pay $34 more per month for Gold health insurance plan in 2024.

Change (2023 vs. 2024)
Expanded bronze$277$31514%

Monthly costs are for a 40-year-old.

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Best cheap health insurance companies in NM

BlueCross BlueShield (BCBS) is the best health insurance company in New Mexico.

BCBS has high ratings on the state marketplace, beWellnm, due to the high rate of members who are satisfied with their plans. The company also has high ratings from ValuePenguin's editors because of its flexibility and large network of doctors.

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Average monthly cost for a 40-year-old buying a Gold plan in NM. Ratings are based on editor reviews of the company.

UnitedHealthcare is another good choice in New Mexico because it has good ratings and affordable quotes.

Cheapest health insurance plan by county

The BCBS Blue Community Gold HMO 205 plan is the cheapest Gold plan across most of New Mexico. However, those living near Albuquerque will pay about $129 less per month for the plan than those living in other parts of the state.

Where you live determines your health insurance options, including what plans are available and how much they cost.

Cheapest health insurance by NM county

Cheapest plan
Monthly rates
BernalilloBCBS Blue Community Gold HMO 205$323
CatronBCBS Blue Community Gold HMO 205$452
ChavesBCBS Blue Community Gold HMO 205$452
CibolaBCBS Blue Community Gold HMO 205$452
ColfaxBCBS Blue Community Gold HMO 205$452
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Cheapest Silver plan with rates for a 40-year-old

Short-term health insurance in NM

Short-term health insurance plans are not currently available in New Mexico. This temporary coverage is allowed in the state, but the strict rules mean that no company is offering plans.

Many people can use a standard insurance plan from the beWellnm marketplace for temporary coverage. Those who are eligible for a special enrollment period can sign up any time of the year. And you can cancel your policy when you don't need it anymore.

  • You can be eligible for special enrollment if you move, lose other health insurance coverage, are disenrolled from Medicaid or have a change in the size of your household.
  • Your health insurance coverage will usually begin on the first of the month after you sign up.
  • You can cancel anytime without a penalty.

Frequently asked questions

Is BlueCross BlueShield of New Mexico a good insurance company?

Yes, BlueCross BlueShield is the best insurance company in New Mexico. Members are satisfied with their plans, and there is usually a wide network of doctors where you can get medical care. Plus, the company's rates are cheap in NM, and a Gold plan can cost as little as $323 per month.

How do I get cheap health insurance in New Mexico?

The best way to get affordable health insurance in New Mexico is to choose the cheapest Gold insurance plan in your county. You can also apply for health insurance subsidies, which reduce the cost of a plan based on your income. Depending on how much you earn, you could get coverage for as little as $10 per month.

How much does Obamacare cost in New Mexico?

Obamacare health insurance costs an average of $466 per month for a 40-year-old in New Mexico. Health insurance costs may vary by the tier of coverage, where you live and your age.

What is Obamacare called in New Mexico?

New Mexico’s health insurance marketplace is called beWellnm. There, you can buy "Obamacare" health insurance plans, also known as Affordable Care Act (ACA) insurance.

How much does health insurance cost in Albuquerque, NM?

In 2024, the cost of health insurance In Albuquerque averages $415 per month, based on rates for a 40-year-old in Bernalillo County. The cheapest Gold health insurance plan in Albuquerque is BlueCross BlueShield's Blue Community Gold HMO, which costs $323 per month. A plan can be even cheaper if you qualify for subsidies based on your income.


Health insurance rates, deductibles and out-of-pocket maximums are compiled from beWellnm, New Mexico's health insurance exchange. Averages were calculated by coverage tier, company and age.

Company ratings are based on expert analysis of member benefits, affordability and customer satisfaction. Additional sources include S&P Global enrollment data for individual and group policies and Medicaid coverage information from the Kaiser Family Foundation (KFF).

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.