Need New Mexico Health Insurance Quotes?

Purchasing health insurance in New Mexico is an important matter and as such, it deserves significant thought and consideration. Several factors may affect your decision regarding the type and amount of health insurance that you choose to purchase. Regulations regarding health insurance vary from one state to the next. Be sure to consider the following facts, when considering the purchase of New Mexico health insurance.

Residents of New Mexico live in a state that does not regulate the insurance industry heavily. Insurance companies are free to impose their own definitions and rules within certain guidelines.

As with most every state, people paying the least for their insurance premiums are members of their employer’s group health plan. Group membership is offered at a much lower premium than individual policies.

Small businesses having between 2 and 50 employees can participate in group coverage. In order to gain policy approval, insurance companies require a minimum level of employee participation before they issue a new policy. If a company has a participation level that is too low, the company will terminate their insurance policy.

New Mexico requires all policies to have a guaranteed renewable clause. This means that as long as you pay your insurance premiums and do not violate your contract, your policy will renew every year regardless of your health. If you commit an act of fraud like lying on your application, you will terminate immediately. Preexisting conditions can be excluded but only for a period of six months.

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