Where to find affordable health insurance has become a necessity for American citizens. If employer-sponsored health insurance isn’t an option for you, there are other places you can find affordable health insurance, such as: Marketplace Exchange Plans, Short Term Health Insurance, or Medicaid. In this article, we’ve analyzed publicly available data for different backgrounds and locations to find out where you can get affordable health insurance.
The best and worst states for health care in the United States vary widely when it comes to health insurance costs. Luckily, no matter where you live, there are many ways to get cheap health insurance. Medicaid is a federally funded program for low-income individuals and families. Medicaid offers free or low-cost health insurance, although eligibility requirements vary by state. Affordable health insurance can be found in North Carolina.
Older people can get the cheapest health insurance through another government program called Medicare, which offers Medicare Advantage-like plans that cover most medical costs. If you don’t qualify for Medicaid or Medicare, the best way to find affordable health insurance is through your state’s health insurance marketplace. On average, these plans cost $477 per month. Tax rates vary widely by location and are tax deductible.
Where To Find Affordable Health Insurance
Medicaid
By far the cheapest option for those who qualify. Small Businesses and Marketplaces. Potential alternatives include Medicare, short-term health insurance, and plans from your local agriculture department. Medicaid is the cheapest option for low-income individuals and families
As part of Medicaid expansion, 38 states allow low-income individuals and families to qualify for Medicaid based on income alone. The remaining states do not allow eligibility based solely on income level. The income limit is usually 133% of the Federal Poverty Line (FPL), so her single personal income must not exceed her $17,774 to qualify.
The more households, the higher the income limit. In the 12 states that don’t offer income-based Medicaid eligibility, you must be on low income and meet other eligibility requirements, including guardianship of a child, or be 65 or older.
- Alabama
- Florida
- Georgia
- Kansas
- Mississippi
- North Carolina
- South Carolina
- South Dakota
- Tennessee
- Texas
- Wisconsin
- Wyoming
Available for free. Depending on your state and income, you may have hospitalization, doctor visits, and out-of-pocket costs for prescription drugs.
Am I eligible for Medicaid based on income?
In 38 states, Medicaid eligibility is dependent solely on income level as a necessary part of expanding Medicaid eligibility. Income levels vary by household size, but are the same in his 36 out of 38 federal states. Alaska and Hawaii have different qualifier numbers. Use the table below to determine your state’s income level and see if you qualify for Medicaid. State and household size determine Medicaid household size limits.
The Cheapest Marketplace Health Insurance By State
When the Affordable Care Act, also known as Obamacare, was passed, it provided a new way for individuals and families to obtain affordable health insurance. Each state now has its own health insurance marketplace for private insurance. Insurance offers vary by state. These health insurance plans are a great option for people who do not have health insurance through work and who do not meet the Medicaid or Medicare eligibility requirements.
You can get the cheapest health insurance plans by qualifying for a premium tax credit. Even if your income is higher than the federal poverty limit, you can still be eligible. This data is to help you find the cheapest health insurance company and Silver plan in your state. Silver plans offer a middle-of-the-road policy, which balances moderate deductibles and costs for healthcare.
State Average Cost of Silver Plan
1. Alaska
- $680 Premera Blue Cross Blue Shield of Alaska.
- Premera Blue Cross Preferred Silver 3000 HSA $675
2. Alabama
- $449 Blue Cross and Blue Shield of Alabama
- Blue HSA Silver for Business $292
3. Arkansas
- $418 Ambetter from Arkansas Health & Wellness
- Ambetter Balanced Care 12 (2021) $387
4. Arizona
- $504 Blue Cross Blue Shield of Arizona
- Blue AdvanceHealth Silver – PimaFocus Network $330
5. Delaware
- $545 Highmark Blue Cross Blue Shield Delaware
- Health Savings Embedded Blue EPO Silver 3450 HSA $522
6. Florida
- $571 Bright Health
- Super Silver 50 + Dental $436
7. Georgia
- $525 Kaiser Permanente
- KP Silver HDHP 5000/20/S8 $391
8. Hawaii
- $482 Kaiser Permanente
Bronze, Silver and Gold Plans: Understanding Metal Tiers
The different metal tiers in the Health Insurance Marketplace determine how health care costs are split between you and the insurance company. The more liability the insurance company has, the higher the premium.
Bronze: The Bronze plan covers most of the cost (about 40%). Monthly premiums for this policy are low, averaging $383 nationally, but can be high if medical costs are high. Our data shows an average annual deduction of $6,791, but a maximum annual deduction of $8,137. The Bronze plan is ideal for people who can afford to take care of themselves on a regular basis but need coverage for serious illness or injury.
Silver: Choose the Silver plan and save about 30% on medical costs. The premiums are higher than the Bronze plan, which averages $503 a month nationally, but the annual deductibles for this plan are lower. We found the average annual deductible for the Silver plan to be $4,236 and the average deductible to be $7,954. With the Silver plan, you can qualify for additional savings called coin insurance reductions. If you qualify, the Silver plan can save you thousands of dollars over the Bronze plan
Gold: Individuals and families on the Gold plan pay the highest premium, averaging $562 per month. However, you will also pay about 20% less premiums. The Gold plan has lower deductibles, with copays averaging $1,500 or $6,650 annually. If you anticipate high medical bills and can afford the monthly premiums, a higher gold premium may be worth it to cover most of the costs from your insurance company.
Some states also have very high deductible policies called disaster health insurance plans. In some states, you can also take advantage of the Platinum plan, which offers the lowest deductible and highest monthly premium. The Disaster Plan is best for young and healthy people, while the Platinum Plan is best for those who anticipate very high medical bills. What
Marketplace Health Insurance Always Covers when you purchase health insurance through. Marketplace, your insurance company must cover the following medical services. Services for mental health and addiction. Children’s health services, including dental and eye care. Pregnancy, maternity and neonatal health care
Prescription Drugs
Rehabilitation and post-habilitation services and equipment Weight management may also be covered , depending on the plan. For example, not all Marketplace health plans offer dental and eye insurance for adults.
Cheapest Health Insurance Alternatives
Even if you can’t get an inexpensive health insurance plan through work, Medicaid, or the state market, there are options. You can find low-cost coverage through Medicare, non-compliant affordable health care plans, short-term health insurance, your local health department, or farm bureau health plans.
1. Medicare
Permanent residents and US citizens age 65 and older are eligible for Medicare. You can also qualify before you turn 65 by meeting certain criteria. For example, you may qualify if you are a civil servant with a disability, have permanent renal failure, or are employed by a railroad company. Medicare has four parts.
The first two are provided by the government and the last two are provided by private insurance companies:
- Part A: Hospitalization.
- Part B: Health insurance that pays for the services of physicians and health care providers, home care, outpatient care, permanent medical equipment, and certain preventive care services.
- Part C: Now called the Medicare Advantage Plan, combines all the benefits and services of Part A and Part B into one plan.
- Part D: Covers prescription drugs.
Short Term Health Insurance
The Short Term Health Insurance plan provides coverage for up to one year but is not as comprehensive as the Marketplace plans. These plans cover doctor’s visits, emergency medical care, emergencies, preventive care, and may cover prescription drugs. They help fill temporary coverage gaps and can be canceled at any time without penalty.
Short term health insurance has high deductibles, no existing health insurance, no standardized or mandated coverage, and little government oversight. Because of these characteristics, plan offerings, coverage limitations, exclusions, and costs vary widely among insurers. You may also be required to complete a medical questionnaire so your insurance provider can determine whether your coverage has been approved or denied.
Farm Bureau Health Insurance
If you are in good health and do not qualify for marketplace subsidies, Farm Bureau plans may be cheaper than other options. Like short-term health insurance, farm bureau health insurance may not cover pre-existing conditions or there may be a waiting period until those conditions are covered.
Your medical history is a factor in your application and may result in denial of coverage. Farm Bureau plans are relatively affordable, but these inexpensive health insurance plans are not regulated by the Affordable Care Act and are not required to cover 10 essential medical services.