The Cheapest New York Health Insurance for Individuals and Families

The cost of health insurance in New York depends on the level of coverage that you choose. Private health insurance in New York is available in five different metal tiers with varying coverage levels and premiums. If you are looking for adequate coverage and affordable rates, Silver plans are the best option. On average, a Silver tier plan in New York costs $710 monthly. The cheapest Silver plan is IND Destination 65, Silver, NS, INN, Blue Marketplace, Dep25 offered by BlueCross BlueShield of Western New York at $491 monthly.

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Last Updated: 4/22/2022
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People who do not have Medicaid or Medicare or do not have health care from an employer can purchase a private healthcare plan from the New York insurance exchange. The cost of health insurance in New York for different tier plans will determine how high your out-of-pocket costs are for medical expenses. Low-cost plans will typically have higher out-of-pocket maxes compared to high-cost plans.

MoneyGeek analyzed the cheapest plans in New York for individuals of different ages and for different plan types to help you find the best coverage. Our analysis is based on rates for plans purchased through the New York insurance marketplace.

The Cheapest Health Insurance in New York by Metal Tier

When choosing a private health insurance plan in New York, it is important to understand that different metal tier options have varying premiums and out-of-pocket maxes. The lower the monthly premium is on a particular plan, the higher the out-of-pocket maximum will be. This means that a low-cost tier may not necessarily be the most cost-effective option if you regularly incur high medical costs.

In New York, you can choose from Catastrophic, Bronze, Silver, Gold and Platinum tier options. The average cost of health insurance in New York for an individual for each metal tier is:

  • Catastrophic: $290 per month
  • Bronze: $522 per month
  • Silver: $710 per month
  • Gold: $846 per month
  • Platinum: $1,077 per month

The right plan for your needs will depend on your average medical expenses. For people in relatively good health with low medical expenses, cheaper plans like Bronze are a good option. However, if you have frequent medical expenses, a plan with low out-of-pocket maximums like Gold or Platinum will be more appropriate. In spite of the higher rates, they could save you money in the long run.

You can look up the cheapest plan by premium for each metal tier in the table below. In the New York marketplace, premiums, deductibles and out-of-pocket maxes may vary greatly within a metal tier.

If you have a low income, you may be eligible for cost-sharing reductions on Silver plans. This will make your deductibles much lower.

MoneyGeek used plans based on a sample profile of a 40-year-old male for OON and INN plans. In New York, OON plans are the most common, but residents can also opt for INN plans.

Cheapest Health Insurance in New York by Metal Tier

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  • Metal Tier
    Plan
    Company
    Monthly Cost
    OOP Max
  • Catastrophic
    Oscar Secure Catastrophic, ST3PCP, INN, Pediatric Dental, Dep25, Step Tracking Rewards
    Oscar
    $183
    $8,550
  • Bronze
    iDirect Bronze MV NS OON IHC Network Dep25
    Independent Health
    $364
    $8,550
  • Silver
    IND Destination 65, Silver, NS, INN, Blue Marketplace, Dep25
    BlueCross BlueShield of Western New York
    $491
    $8,550
  • Gold
    iDirect Gold Copay HSAQ NS OON IHC Network Dep25
    Independent Health
    $603
    $6,750
  • Platinum
    FlexFit Platinum NS OON IHC Network Dep25
    Independent Health
    $731
    $5,250

The Cheapest Health Insurance in New York by Age and Metal Tier

The cost of health insurance in New York is not dependent on age. This is because insurance regulations in New York prohibit insurers from using age when calculating health insurance premiums.

This means that a 26-year-old in New York will pay the same health insurance premiums as a 60-year-old. The average cost of a Silver plan in New York for both a 26-year-old and a 60-year-old is $710 monthly.

These average rates are based on OON and INN plans.

Health Insurance Costs in New York by Age and Metal Tier

Although age will not affect your health insurance costs in New York, other factors such as income will. To get a personalized quote, you can apply for a plan on the New York Insurance exchange. You can also read MoneyGeek’s guide on health insurance in New York to determine the most appropriate metal tier for your needs.

Cheapest Health Insurance in New York by Age And Metal Tier

Sort by Metal Tier:

Silver

Sort by Age:

40 years

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  • Plan
    Company
    Monthly Rate
  • Catastrophic
    INN
    Oscar
    $0
  • Catastrophic
    INN
    Fidelis Care
    $0
  • Catastrophic
    INN
    Univera Healthcare
    $0
  • Catastrophic
    INN
    CDPHP
    $0
  • Catastrophic
    INN
    Excellus BlueCross BlueShield
    $0
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The Cheapest Health Insurance in New York by County

Since New York and other states have rating areas that they use to calculate health insurance premiums, health insurance rates can vary depending on where you live. New York has 62 counties which are divided into eight rating areas. Counties in one rating area typically calculate their health insurance premiums the same way.

In Kings County, the most populous county in New York, the cheapest Silver plan is Healthfirst Silver Leaf, ST, INN, Pediatric Dental, Dep25, Fitness & Wellness Rewards offered by Healthfirst for an average of $611 monthly.

You can use the table below to find the cheapest plan in New York for all metal tiers in your respective county.

These plans are for a sample profile of a 40-year-old male in New York purchasing a health plan in that county.

Cheapest Health Insurance Plans in New York by County

Sort by county:

Albany

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  • Metal Tier
    Company
    Cheapest Plan
    Monthly Premium
  • Albany
    Catastrophic
    Fidelis Care
    Fidelis Care, Catastrophic, ST, INN, Fidelis Care HBX Network, Pediatric Dental, 3 Free PCP Visits, Free Telemedicine
    $188
  • Rensselaer
    Catastrophic
    Fidelis Care
    Fidelis Care, Catastrophic, ST, INN, Fidelis Care HBX Network, Pediatric Dental, 3 Free PCP Visits, Free Telemedicine
    $188
  • Saratoga
    Catastrophic
    Fidelis Care
    Fidelis Care, Catastrophic, ST, INN, Fidelis Care HBX Network, Pediatric Dental, 3 Free PCP Visits, Free Telemedicine
    $188
  • Schenectady
    Catastrophic
    Fidelis Care
    Fidelis Care, Catastrophic, ST, INN, Fidelis Care HBX Network, Pediatric Dental, 3 Free PCP Visits, Free Telemedicine
    $188
  • Columbia
    Catastrophic
    Fidelis Care
    Fidelis Care, Catastrophic, ST, INN, Fidelis Care HBX Network, Pediatric Dental, 3 Free PCP Visits, Free Telemedicine
    $188

The Cheapest Health Insurance in New York With High Out-of-Pocket Maxes

If you are a young person with few medical expenses and you need affordable health insurance in New York, a low-cost plan with high out-of-pocket maxes is an ideal option. This type of plan has low monthly premiums. However, since the out-of-pocket maxes are high, you may have to pay more out of pocket if you incur high medical expenses in a given year.

In New York, the cheapest plan for a 26-year-old for high out-of-pocket maxes is Oscar Secure Catastrophic, ST3PCP, INN, Pediatric Dental, Dep25, Step Tracking Rewards offered by Oscar for roughly $183 monthly.

MoneyGeek defines a high out-of-pocket max as a plan with max out-of-pocket expenses of $8,250 or higher.

Oscar Insurance Company

Oscar offers the cheapest plan for low out-of-pocket maxes in New York. However, since this plan is a Catastrophic plan, only people under the age of 30 and those with a hardship exemption are eligible to apply for this plan.

The Cheapest Health Insurance in New York With Low Out-of-Pocket Maximums

A more expensive plan with low out-of-pocket maximums is the most cost-effective option for people in New York who frequently incur high medical expenses. This is because the low out-of-pocket maximum means that your insurer will cover your medical expenses once you reach the set limit. Your high monthly premiums will likely be offset by low out-of-pocket costs.

The most affordable health insurance in New York for low out-of-pocket maximums is Standard Platinum ST OON IHC Network Dep25 offered by Independent Health for an average of $789 monthly.

MoneyGeek defines a low out-of-pocket max as a plan with one below $4,250. The Platinum plan from Independent Health has out-of-pocket maxes of $2,000.

Independent Health

Independent Health’s Platinum plan is the best option in New York for people looking for a plan with low out-of-pocket maxes. People with high medical expenses end up spending less on out-of-pocket medical expenses when they choose an expensive plan like Gold and Platinum because of the low out-of-pocket maximums.

Cheapest Out of Network Health Insurance Plan in New York

In New York, you can choose between two different types of plan types available. The most appropriate plan for you will depend on your specific healthcare needs and preferences. The most common type of plan in New York is Out-of-Network (OON) plan, but you can also opt for an In-Network (INN) plan.

OON (out‐of‐network) plans are the most common type in New York. With this type of plan, you are not restricted to a list of providers specified by your insurer. This means that you can go to providers who do not have a contract with your insurer. However, with an OON plan, your copay costs may be higher since the provider does not have a contract with your insurer.

INN (in-network) plans are different from OON in that your plan will restrict you to providers who have a contract with your insurer or in-network providers. The deductibles and coinsurance costs for INN plans are usually lower.

In New York, the cheapest Silver plans for NNO and INN plans are:

  • Cheapest INN Silver plan: IND Destination 65, Silver, NS, INN, Blue Marketplace, Dep25 offered by BlueCross BlueShield of Western New York for roughly $491 per month.
  • Cheapest OON Silver plan: IND POS 7000, Silver, NS, OON, Blue Marketplace, Dep 25 offered by BlueCross BlueShield of Western New York for an average of $496 monthly.

Cheapest Plan in New York With an HSA

If you are in good health and rarely incur medical expenses, HSA plans allow you to save pre-tax contributions and build up a nest egg. With an HSA plan, you will only need to use your savings if you incur medical expenses.

The cheapest HSA plans for all available metal tiers in New York are:

  • Cheapest HSA Bronze plan: iDirect Bronze Coinsurance HSAQ NS OON IHC Network Dep25 offered by Independent Health for around $386 monthly.
  • Cheapest HSA Silver plan: IND POS 7000, Silver, NS, OON, Blue Marketplace, Dep 25 offered by BlueCross BlueShield of Western New York for roughly $496 monthly.
  • Cheapest HSA Gold plan: iDirect Gold Copay HSAQ NS OON IHC Network Dep25 offered by Independent Health for an average of $603 monthly.

While HSA plans are affordable in terms of monthly premiums, the high deductibles and out-of-pocket maxes mean that you will pay more out of pocket if you incur high medical expenses.

What to Know About Health Insurance in New York

Rates in MoneyGeek’s analysis are based on private plan data from the New York insurance marketplaces. You may find that you are eligible for cheaper plans when you actually apply for a plan on the Marketplace.

If you have a low income, you may qualify for state programs like Medicaid or Medicare. These tend to be more affordable than any private plans you can find on the private health insurance marketplace.

Private Health Insurance on the New York Marketplace

Health insurance plans in the private market in New York are available in different metal tier options, including:

  • Catastrophic: Catastrophic plans are only available for people who are below the age of 30 or who have a hardship exemption. This tier is a low-cost option with low monthly premiums, but it offers limited coverage. It is best for people who have few medical expenses and need affordable coverage in case of a medical emergency or for those who cannot afford more expensive plans.
  • Bronze: Bronze plans cost more than Catastrophic plans and offer better coverage compared to Catastrophic. This tier is an affordable option for people who are over 30 and do not qualify for a Catastrophic plan or for those who want a cheaper option with high out-of-pocket maxes.
  • Silver: The Silver tier is a middle-of-the-road health insurance plan that balances affordable monthly premiums with coverage. For the average person, the Silver tier offers adequate coverage without having to pay the high monthly premiums associated with more expensive plans or the high out-of-pocket costs that come with low-cost plans.
  • Gold: The Gold tier plan is a high-cost option with more expensive monthly premiums. However, the high premiums are balanced out by the low out-of-pocket maximums in this type of plan. For people who need regular medical attention and meet their out-of-pocket limits quickly, a Gold plan is a good option since you will pay less out of pocket for your medical expenses.
  • Platinum: The Platinum tier is the most costly health insurance plan in New York. A platinum plan is ideal if you want a plan with low out-of-pocket maxes that will ensure your expenses are covered by the insurer when you incur high medical costs. The coverage offered by high-cost plans like Platinum is ideal for people who incur high medical expenses frequently.

In some cases, your income level may make you eligible for even cheaper plans or more coverage benefits than the ones listed in MoneyGeek’s analysis.

New York residents with an income level that is between 100% and 400% of the federal poverty level are eligible for premium tax credits. In a two-person household, this means with an income level of between $17,420 to $69,680, you can get tax credits on your health insurance premiums.

When you want to enroll in a new healthcare plan or renew your existing one from the New York Insurance Marketplace, you have to do it during a specific period referred to as the open enrollment period. Before the COVID-19 pandemic, the open enrollment period was between November and December. However, due to the pandemic, the enrollment period has been extended.

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In New York, if your income is 138% to 250% of the federal poverty or between $24,040 to $43,550, you qualify for cost-sharing reductions if you buy a Silver health insurance plan. With the reductions, your out-of-pocket maxes and coinsurance payments will be lower, and you can even get a Gold plan at the same rates as a Silver plan.

Medicaid in New York

The cheapest health insurance plan in New York for eligible residents is Medicaid. Medicaid is a free government program offered to people whose income is below 138% of the federal poverty level. In expansion states like New York, you can qualify for Medicaid based solely on your income.

Medicare in New York

If you are over 65 years of age, you are eligible for Medicare in New York. You may also be eligible for this federal health care plan if you have certain qualifying illnesses. Medicare is not entirely free, so you will need to pay premiums for certain coverages. However, this federal healthcare plan is more affordable than the private health insurance plans available on the New York insurance exchange.

The three key components of a Medicare plan include:

  • Medicare Part A: Also known as hospital insurance, this part of Medicare does not cost any money and covers medical expenses from inpatient hospital stays, hospice care and certain types of home health care.
  • Medicare Part B: This coverage requires a premium and covers outpatient medical expenses, medical supplies and specific doctor services.
  • Medicare Part D: This coverage covers prescription drugs, including vaccines and other recommended shots.

Expert Advice: Finding Affordable Health Insurance in New York

  1. When can I shop for health insurance on the New York health insurance exchange?
  2. How do I take advantage of cost-sharing reductions and tax credits for health insurance in New York?
Dr. Pallavi Panda, Ph.D.
Dr. Pallavi Panda, Ph.D.

Associate Professor of Economics in the School of Business at SUNY Geneseo

Methodology

MoneyGeek's research is based on estimates, and the cheapest plan for you will depend on your individual needs and characteristics. This analysis is intended to serve as a guide and no single plan is guaranteed to be the cheapest in New York for you

MoneyGeek collected plans and premiums for health insurance in New York from the website for New York State of Health for all available metal tiers and across several age groups. Plans and premiums were analyzed in May 2021. 

Health insurance premiums on this page are an estimate and exclude potential premium tax credits and cost-sharing subsidies that users may be eligible for. 

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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