The Cheapest (and Best) Health Insurance in Austin, TX (2023)

In addition to location, your age, plan type and health care needs affect the cost of your health insurance premiums. MoneyGeek gathered and reviewed marketplace data to determine the cheapest health insurance providers in Austin.

Since cost isn’t the only important factor, we also rounded up the best health insurance companies in Austin based on affordability, customer service and plan options.

Not all plan types are offered by every insurer. Shop around to get the best option for your health care needs.

Furthermore, if only one insurer is available in your area, choose the best plan or tier for your situation.

When purchasing health insurance, it’s important to consider a company’s plan options, cost-sharing choices and customer service in addition to the cost. Using these factors, MoneyGeek evaluated health insurance providers in Austin and determined Friday Health Plans as the best insurer, scoring 98 out of 100. It scored well in cost, customer service and plan options.

With a MoneyGeek score of 74 out of 100, Scott and White Health Plan is the second-best health insurance company in Austin. It scored well in terms of cost and customer service but lower in plan options.

Your health insurance premium is determined by how you split health care costs with your insurance provider. The cost can vary across state, city and county levels. In some instances, the best health insurance company may not be the cheapest.

If you value affordability over everything else, it’s essential to familiarize yourself with how the marketplace metal system, premiums and maximum out-of-pocket costs (MOOPs) work together. Your deductibles, copays and co-insurance also play significant roles in your health care costs.

As for the metal system, Catastrophic and Bronze offer the lowest monthly premiums. However, the trade-off is usually high maximum out-of-pocket costs, which are only ideal if you don’t require much medical attention.

Check out plan costs for metal tiers in Austin in the table below.

With some companies, you can purchase Expanded Bronze plans. These offer slightly more protection than regular Bronze plans by covering at least one major service before you meet your deductible.

Age is another primary factor affecting your health insurance costs. Insurance companies often increase premiums the older you get to accommodate the expected rise in health care needs.

The cheapest health insurance plans in Austin will almost always be Bronze or Expanded Bronze.

If someone selects a lower-tiered plan, they should make sure they are comfortable with the network to avoid paying out of pocket for out-of-network services.

Due to the restrictions on eligibility for Catastrophic plans, we did not include them in the cheapest company table below.

Your health insurance cost is also affected by your family size. Naturally, your premium will increase the more family members you add to your policy. That said, bundling your family under one plan is cheaper than purchasing separate policies for each member.

If you’re shopping for family health insurance plans in Austin, MoneyGeek researched the average cost of health insurance premiums by family size and metal tier.

No health insurance plan is perfect. It’s best to weigh the differences between costs and coverage to find the most suitable plan for your health care needs and budget.

For instance, Catastrophic and high-deductible health plans may only be ideal for individuals who don’t anticipate needing much medical care in a given year. Conversely, a plan with higher monthly premiums may save you money in the long run if you require more intensive care.

Those with low income can reduce the cost of health insurance by seeking financial assistance. The American Rescue Plan removed the federal poverty level (FPL) of 400% and reduced it to 100% for 2022, giving more individuals access to health insurance subsidies.

Medicaid and the Children's Health Insurance Program (CHIP) are two other options worth looking into if you’re not eligible for a subsidy. To qualify for Medicaid, you must have an income between 100% and 150% of the FPL, depending on the state.

Choosing the cheapest health insurance plan isn’t always the best decision. It may cost you more out-of-pocket, especially if you need frequent health care services.

Finding the right health insurance plan can be confusing. MoneyGeek’s answers to some frequently asked questions can help you learn more about health insurance in Austin.