Molina Healthcare offers the cheapest health insurance in New Mexico at $666 monthly. That's $162 less than pricier options. Blue Cross Blue Shield costs $773 monthly with $55 in savings, while UnitedHealthcare of New Mexico charges $937 monthly ($109 in savings) and Presbyterian Health Plan costs $980 with $152 saved monthly. Balance these premiums against your deductibles, network size and specific coverage needs before choosing a plan.
Cheapest Health Insurance in New Mexico: Affordable Plans for 2026
Updated: December 29, 2025
Advertising & Editorial Disclosure
Key Takeaways
Molina Healthcare, Blue Cross Blue Shield and UnitedHealthcare of New Mexico, Inc. have the cheapest health insurance in New Mexico, with average monthly rates ranging from $666 to $937.
Molina Healthcare offers the most affordable health insurance in New Mexico across most demographics and HMO plans ($593 monthly). Coverage for teens averages $424 monthly, young adults $475, adults $593 and seniors $1,259.
Cheapest Health Insurance Providers in New Mexico
| Molina Healthcare | $666 | $162 | $7,992 | $1,944 |
| Blue Cross Blue Shield | $773 | $55 | $9,276 | $660 |
| UnitedHealthcare of New Mexico, Inc. | $937 | $109 | $11,244 | $1,308 |
| Presbyterian Health Plan, Inc. | $980 | $152 | $11,760 | $1,824 |
*Average monthly costs represent the mean of all plan rates for each provider in New Mexico, rounded to the nearest dollar. Monthly savings show the cost difference between each provider's average rate and the statewide benchmark.
Molina Healthcare
MoneyGeek Rating
4.7/ 5
5/5Affordability
3.4/5Deductible
5/5MOOP
Avg. Monthly Rate
$666Avg. MOOP
$7,688Avg. Deductible
$3,109
Most Affordable New Mexico Health Insurance By Category
Molina Healthcare sweeps every affordability category in New Mexico, proving HMO networks offer the lowest premiums statewide. Rates triple from teens ($424) to seniors ($1,259), but the $4,800 deductible stays constant regardless of age. This pricing structure benefits younger, healthier enrollees who rarely hit their deductible. Adults pay $593 monthly while young adults save $118 at $475, making Molina the best health insurance in New Mexico for budget-focused buyers.
| Teens | Molina Healthcare | $424 | $5,084 | $9,300 | $4,800 |
| Young Adults | Molina Healthcare | $475 | $5,702 | $9,300 | $4,800 |
| Adults | Molina Healthcare | $593 | $7,117 | $9,300 | $4,800 |
| HMO | Molina Healthcare | $593 | $7,117 | $9,300 | $4,800 |
| Seniors | Molina Healthcare | $1,259 | $15,113 | $9,300 | $4,800 |
*These are average rates for all plan types and metal levels, with teens at 18, young adults at 26, adults at 40 and seniors at 60. For plan type costs, we used average rates for 40-year-olds.
Most Affordable New Mexico Health Insurance By Metal Level
Metal tiers balance monthly costs with out-of-pocket expenses. Blue Cross Blue Shield offers the cheapest Bronze plan at $513 monthly with a $7,000 deductible, while Molina Healthcare leads Gold coverage at $558 monthly ($2,275 deductible) and Silver at $593 monthly ($4,800 deductible). Lower premiums mean higher deductibles. Choose based on how often you need care.
| Bronze | Blue Cross Blue Shield | $513 | $6,161 | $10,150 | $7,000 |
| Gold | Molina Healthcare | $558 | $6,696 | $7,050 | $2,275 |
| Silver | Molina Healthcare | $593 | $7,117 | $9,300 | $4,800 |
Cheap New Mexico Health Insurance: Personalized Picks
Your health insurance costs depend on several key factors such as age, plan type, metal level and coverage needs. Using comprehensive New Mexico data, we've identified plans that match your specific situation and budget constraints.
Data filtered by:
HMO
Silver
40
No
| Presbyterian Health Plan, Inc. | Silver Select $7,000 w/Gym with Limited Service Area | $582 | HMO | Silver | $10,150 | $7,000 | 40 | No |
| Molina Healthcare | Molina Clear Cost Silver On Exchange | $593 | HMO | Silver | $9,300 | $4,800 | 40 | No |
| Presbyterian Health Plan, Inc. | PHP Clear Cost Silver with Limited Service Area | $667 | HMO | Silver | $9,300 | $4,800 | 40 | No |
| Blue Cross Blue Shield | Blue Community Silver HMO 203 - On Exchange | $684 | HMO | Silver | $10,150 | $1,800 | 40 | No |
| Blue Cross Blue Shield | Blue Community Silver HMO 308 - On Exchange | $702 | HMO | Silver | $10,150 | $4,250 | 40 | No |
| Blue Cross Blue Shield | Blue Cross Blue Shield Clear Cost Silver Plan - On Exchange | $760 | HMO | Silver | $9,300 | $4,800 | 40 | No |
| UnitedHealthcare of New Mexico, Inc. | UHC Silver Value On Exchange | $769 | HMO | Silver | $10,000 | $4,750 | 40 | No |
| UnitedHealthcare of New Mexico, Inc. | UHC Silver Advantage On Exchange | $789 | HMO | Silver | $9,200 | $4,250 | 40 | No |
| UnitedHealthcare of New Mexico, Inc. | UHC Clear Cost Silver On Exchange | $817 | HMO | Silver | $9,300 | $4,800 | 40 | No |
| Presbyterian Health Plan, Inc. | Silver $7,000 w/Gym | $852 | HMO | Silver | $10,150 | $7,000 | 40 | No |
How to Get Cheap Health Insurance in New Mexico
Health insurance premiums in New Mexico vary depending on your plan type and income level. Compare plans during open enrollment to reduce your costs and use the following tips to choose coverage that meets your requirements.
- 1Look Beyond the Cheapest Plans
Don't default to the cheapest Bronze or Catastrophic plan. Silver and Gold plans provide better value when you factor in lower deductibles and out-of-pocket costs, especially if you need regular medical care.
- 2Assess Your Medical Spending
Review last year's health care spending. If you only visited the doctor twice and didn't need prescriptions, a high-deductible plan saves money. For example, if you spent $500 last year on two routine doctor visits and one urgent care trip, a Bronze plan with a $6,000 deductible might save you $150 monthly compared to a Gold plan.
- 3Explore HMO Options
HMO plans cost less than PPO options in New Mexico. You'll need to stay within the provider network, but Molina Healthcare and other HMO providers save you $100 or more monthly.
- 4Verify Subsidy Eligibility
Premium tax credits from the Health Insurance Marketplace reduce your monthly costs based on your income. Even middle-income families qualify for assistance. Check your eligibility before purchasing a plan.
- 5Time Your Purchase Right
Open enrollment runs from November 1 to January 15 each year. Missing this window means waiting until next year unless you qualify for a special enrollment period due to major life changes like marriage, birth or job loss.
Cheapest Health Insurance in New Mexico: Bottom Line
Molina Healthcare is the cheapest health insurance provider in New Mexico, followed by Blue Cross Blue Shield and UnitedHealthcare of New Mexico, Inc. Compare rates from all three insurers across metal tiers and plan types to find your lowest cost.
Affordable Health Insurance in New Mexico: FAQ
We answer common questions about health insurance in New Mexico:
How do I get cheap health insurance in New Mexico?
Shop during open enrollment (November 1 to January 15) and compare plans from Molina Healthcare, Blue Cross Blue Shield and UnitedHealthcare of New Mexico, Inc. across multiple metal tiers. Check your eligibility for premium tax credits through the Health Insurance Marketplace. HMO plans cost less than PPO options in New Mexico.
How much does health insurance cost in New Mexico?
Health insurance in New Mexico costs an average of $839 monthly ($10,068 annually) across all plan types and metal levels. Monthly rates range from $367 to $1,766 depending on your age, coverage tier and plan type.
Does New Mexico require health insurance?
New Mexico doesn't require health insurance. The federal individual mandate penalty ended in 2019, so you won't face tax penalties for going uninsured. Coverage provides financial protection from high medical costs and covers preventive care and treatment.
Our Methodology
Comparing health insurance in New Mexico means sorting through multiple providers with different rate structures across age groups and plan types. We analyzed every available plan from federal marketplace data to identify which insurers offer the lowest premiums for New Mexico residents.
Research Approach
We collected premium data for five ages: 18, 26, 40, 50 and 60. These ages show how rates change from young adult coverage through near-Medicare eligibility, revealing the full cost range New Mexico residents face at different life stages.
Why We Focus on 40-Year-Olds
Our primary affordability rankings use 40-year-old rates because this age sits at the midpoint of the working-age population in New Mexico. Using one consistent age removes variables and provides clear comparisons across providers without age distorting the results.
Age-Specific Rankings
We also ranked insurers separately at each age bracket. A provider that's cheapest for young adults might not be most affordable for someone near 60, so these age-specific rankings help you find the best rate for your life stage.
All data comes from federal sources and covers metal tiers and plan types available to New Mexico residents through the Health Insurance Marketplace.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.