Best Illinois Health Insurance (2023 Plans)

MoneyGeek determined that MercyCare Health Plans is the best health insurance provider in Illinois, with a score of 70 out of 100. According to our study, this provider has the lowest MOOP costs and above-average denial rates.

To pick the winner of this category, we compared data from 72 Silver HMO plans, five POS plans and two PPO plans in Illinois.

With a MoneyGeek score of 74 out of 100, MercyCare Health Plans is the best health insurance provider in Illinois with the lowest out-of-pocket costs. The company has lower-than-average premiums and approves a larger percentage of insurance claims than its competitors.

In this category, we examined 39 Gold HMO plans, three Gold POS plans, two Gold PPO plans and one Platinum POS plan.

With a MoneyGeek score of 69 out of 100, Oscar offers the best cheap health insurance in Illinois.

For this category, we assigned a higher weight to affordability. Take note that plans with lower monthly premiums generally have higher out-of-pocket costs.

To determine the category winner and recommended plans, we evaluated 72 Silver HMO plans, five POS plans and two PPO plans in Illinois.

MoneyGeek also analyzed the cheapest health insurance in Illinois for those who just want the cheapest rates.

Aetna is the best health insurance provider in Illinois for those with low incomes, receiving a MoneyGeek score of 70 out of 100.

In this category, we only evaluated health insurance providers that offer cost-sharing reductions (CSRs) and prioritize low monthly premiums. This totaled 72 HMO Silver plans, five POS plans and two PPO plans in Illinois.

If your income falls below 250% of the federal poverty level (FPL), you may qualify for CSRs, which lower your out-of-pocket maximum and deductible. By doing this, you can avoid the typical trade-off between higher out-of-pocket expenses and lower premiums. CSR plans have a higher cost-sharing ratio than Silver plans, which typically cover approximately 70% of health care costs. For example, Illinois residents that fall within the indicated income brackets will receive the following coverage:

• Annual income between $27,180 and $33,975 (201%–250% of the FPL) qualifies for a plan that pays about 73% of health costs
• Annual income between $20,385 and $27,180 (151%–200% of the FPL) qualifies for a plan that pays about 87% of health costs
• Annual income below $20,385 (up to 150% of the FPL) qualifies for a plan that pays about 94% of health costs

Keep in mind that these brackets vary depending on the size of your household.

According to MoneyGeek, Aetna offers the best health insurance for young adults in Illinois, receiving a MoneyGeek score of 85 out of 100.

In order to determine which companies are the best for young adults, we looked at the policies of companies that offer Bronze or Catastrophic coverage. These policies often have the cheapest premiums but the highest out-of-pocket costs. Individuals under the age of 30 are the only ones who are eligible for Catastrophic coverage.

In Illinois, we examined the following plan levels and types in relation to this category:

• Bronze: 12 HMO and three PPO plans
• Expanded Bronze: 54 HMO, four POS and three PPO plans
• Catastrophic: Four HMO plans and one PPO plan

Various coverage choices are available from health insurance providers. The following are the top-rated providers in each category in Illinois:

• HMO: MercyCare Health Plans (MoneyGeek score: 79 out of 100)
• POS: Health Alliance Medical Plans, Inc. (MoneyGeek score: 100 out of 100)
• PPO: Blue Cross Blue Shield (MoneyGeek score: 100 out of 100)

Please note that our recommendations are limited to Silver plans only. This metal tier is suitable for those seeking affordable, high-quality medical insurance.

There are 72 HMO, five POS and two PPO Silver Plans available in Illinois.

National General Accident & Health is ranked as the best short-term health insurance provider in Illinois, with a MoneyGeek score of 95 out of 100.

Short-term health insurance, in contrast to plans that adhere to the Affordable Care Act (ACA), does not cover all necessary health benefits; hence it is not recommended as a permanent health insurance option.

The Illinois health insurance provider that is the ideal fit for you will depend on your spending limit and your coverage requirements. The following recommendations can be helpful when purchasing health insurance.

Medicare, which can greatly lower medical expenses, may be available to individuals who are 65 or older or who have a qualifying disability or sickness. This is a federal program that offsets the costs of medical care and includes the following parts:

• Part A (Hospital Insurance): This is hospital insurance that covers inpatient stays, hospice care and nursing home care.
• Part B (Medical Insurance): This type of medical insurance covers outpatient care, physician costs, preventative services and medical supplies.
• Part D (Prescription drug coverage): This helps cover the cost of prescription medications and vaccinations.

In addition, MoneyGeek has in-depth resources for finding the best Medicare Advantage and Medicare Supplement plans in Illinois.

Medicaid, another federal program, provides health coverage to low-income individuals, as determined by the state. Individuals in Illinois who earn less than 138% of the federal poverty level are eligible for this public health insurance plan. Medicaid is an affordable health insurance alternative that can cover the majority, if not all, eligible medical expenses.

When considering health insurance options, it’s normal to have questions about cost and coverage. To help make the process easier for you, we answered a few frequently asked questions.