Table of Contents
Page Reviewed / Updated – January 27, 2021

Introduction:
This webpage is intended to assist New Mexico residents in better understanding the costs associated with elderly care, including adult day care, assisted living, and home care throughout the state. Programs that assist individuals and families in providing senior care, whether it is financial assistance or care support, will also be explored.

The programs outlined on this page are inclusive of all the programs offered by the state of New Mexico. However, there are also programs that offer assistance for elderly care at a national level. When exploring options for care assistance, it’s important to explore all avenues of assistance to find the program that is most ideal for the given situation. Please use our Resource Locator Tool to search for national programs.

New Mexico Elder Care Costs

Cost of Care Calculator

Answer the questions below to see the cost of care in your area.

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Assisted Living / Memory Care

In New Mexico, in 2021, according to Genworth’s Cost of Care Survey 2020, the cost of assisted living ranges from $3,900 – $4,800 / month, with the average rate being $4,050 / month throughout the state. The most affordable assisted living is found in the city of Farmington, with a monthly average of $3,900. Albuquerque is on par with the statewide average at $4,050 / month. The costliest assisted living is in the area of Santa Fe, with a monthly average of $4,800. 

There are also Memory Care units for seniors that require a higher degree of care and supervision due to Alzheimer’s or a related dementia. This type of care costs an additional 20% – 30% more, averaging between $975 and $1,200 / month

Home Care

In 2021, per Genworth’s 2020 Cost of Care Survey, the average hourly rate statewide for home care in New Mexico is $22.50. However, the average rate per hour varies quite a bit depending on geographic region, ranging from $18.13 to $27.00. The most affordable home care can be found in El Paso-Las Cruces, with an average of $18.13 / hour. Farmington is slightly above the statewide hourly average at $23.00. The costliest home care is found in the cities of Farmington and Santa Fe at $26.00 – $27.00 / hour. 

Home health care, provided by trained health professionals, offers another option for seniors who need a higher level of care. On average, this type of assistance costs $.50 / hour more than does home care.  Las Cruces is one exception, with an average of $1.25 more per hour.

Adult Day Care

When considering senior care, adult day care is one of the most affordable options in New Mexico. Per Genworth’s Cost of Care Survey 2020, the average daily cost throughout the state in 2021 is $116. The costliest adult day care is found in Farmington with an average of $144 / day. Albuquerque, with an average of $116 / day, is on par with the statewide average. The most affordable adult day care can be found in Las Cruces, with a daily average cost of $80. Make note, adult day care is often billed in half-day increments, rather than by the hour or the day.

New Mexico Financial Assistance Programs

Medicaid Programs for the Elderly

In New Mexico, the Medicaid program is called Centennial Care and is a managed care program. Via this program, nursing home care (Institutional Care Medicaid) is provided, in addition to some personal care assistance.

Prior to the transition to a managed care program in 2014, the state offered two Medicaid Waiver programs, the CoLTS C Waiver and the Mi Via Waiver. However, similar care services and self-direction of care are now offered through Centennial Care via the Community Benefit.

Community Benefit provides long-term care services for seniors in order to assist them in aging in place (in their home or in assisted living), rather than require nursing home placement. Services may include personal care assistance, adult day care, respite care, personal emergency response systems, private duty nursing, and more. With Community Benefit, there is an option for Self-Directed Community Benefit (SDCB) care, which means eligible applicants are able to choose their own care provider, including some family members.

Eligibility
In order to be eligible for long-term care Medicaid in New Mexico, there are functional limitations that must be met, as well as both income and asset restrictions. As of 2021, an individual senior applicant must not have a monthly income in excess of $2,382. This amount is equivalent to 300% of the Federal Benefit Rate (FBR). Married applicants (with both spouses applying) are each allowed up to $2,382 / month in income, which combined, equals $4,764 / month. The countable asset limit is set at $2,000 for a single elderly applicant and $4,000 for married couples with both spouses as applicants. However, there are several exempt, meaning non-countable, assets. These include an individual’s primary home, if the applicant lives (or intends to live) in the home and his / her equity interest is valued under $906,000 OR his / her spouse lives in it. Household furnishings, personal belongings (clothing, wedding ring, etc.), an automobile, and a pre-paid, irrevocable (it cannot be changed or canceled) burial agreement are also exempt.

Persons exceeding these limits may still gain eligibility by working with a Medicaid Planner, as these professionals are well trained in restructuring finances to meet eligibility requirements. Learn more.

State (Non-Medicaid) Assistance Programs

Elderly residents of New Mexico may also receive non-Medicaid Services for Seniors via the Older Americans Act. These services, which are intended to promote the independence of elderly individuals and aging in place, are offered via two local Area Agencies on Aging (AAA). However, services may vary based on the geographic area in which the AAA office serves. Benefits may include meal services, adult day care, in-home respite care, transportation assistance, and homemaker services. Learn more.

The MEDBANK Prescription Drug Assistance program offers financial assistance for brand name prescription drugs.  More.

Other Financial Options for Care

In addition to the state specific programs that assist in covering the cost of elderly care in New Mexico, there are also federal and non-profit programs available. In order to find other programs that assist in paying for care or reduce your out-of-pocket cost, make sure to use our Resource Locator Tool.  This tool makes it easy to locate and consider all of your options and choose the program that best fits the circumstances. Eldercare loans and programs that aid veterans with assisted living are other available options.

Finding Affordable Care

As one can see, the cost of elderly care has quite a large range throughout the state of New Mexico. In order to locate the most affordable, high quality care for one’s needs, it is important to reach out to multiple providers in the search for care. Our company has paired with multiple organizations to assist in this endeavor and has created a service that is free to use. Click here to find affordable care

Eldercare Financial Assistance Locator

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Top Cities for Senior Care in New Mexico

For more information about the costs and resources available in New Mexico cities, click on the links below. 

Eldercare Financial Assistance Locator

  • Discover all of your options
  • Search over 400 Programs