Updated: May 22, 2024
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Why Trust MoneyGeek? We hand-collected health insurance data on all available plans in New York for consumers aged 18, 26, 40, 50 and 60 by visiting the state marketplace and accessing each plan manually. Since age is not a determinant in New York’s health insurance estimates, MoneyGeek also considered New York’s family size classification of individual, couple, parent and child only and family (couple plus children). MoneyGeek’s scoring methodology balances costs and claims approval to find the best providers in the state.
State marketplace plan data was updated and released in October for the 2023 enrollment period.
Our analysis revealed that Independent Health is the best health insurance provider in New York, with an impressive MoneyGeek score of 94 out of 100. It offers affordable rates, low MOOP costs and a track record of denying claims less frequently. This makes it a top choice for those seeking quality coverage without worrying too much about their finances.
In this category, we examined 458 Silver in-network (INN) and 64 Silver out-of-network (OON) plans.
Competitive pricing
Second-lowest average MOOP cost
More likely to approve claims than other insurers
Limited plan types
Independent Health provides a selection of 24 Silver OON plans, with an average premium of $521 per month and an average MOOP cost of $7,917. This pricing makes it an attractive option for budget-conscious individuals seeking quality coverage.
Independent Health's remarkable 0% claim denial rate demonstrates the company's dedication to supporting its policyholders' medical needs. With such a low rate of denied claims, individuals can likely feel confident that their health care expenses will be covered when needed.
Plan Recommendations
We suggest considering the following Silver plans from Independent Health:
Fidelis Care emerged as the top health insurance provider for New Yorkers when it comes to low out-of-pocket costs, earning a MoneyGeek score of 95 out of 100. The company surpasses its rivals by offering lower MOOP costs, which means policyholders can expect to save money even before their insurance coverage takes effect. It also has a higher rate of accepted insurance claims compared to other providers in the market.
To evaluate this category, we thoroughly examined 408 Gold INN plans, 64 Gold OON plans, 336 Platinum INN plans and 40 Platinum OON plans.
Low MOOP costs
Excellent claims management and approval
Reasonable premiums
Limited plans
Fidelis Care offers 64 Gold INN plans and 64 Platinum INN plans. One of its notable strengths is its low MOOP costs of approximately $3,375. This reduces the financial burden on individuals and families, making health care more accessible and affordable. The company also excels in claims management and approval. This may impact the ease and speed at which you can access the health care services you need. Fidelis Care’s premiums cost around $836 per month.
Plan Recommendations
We recommend taking a look at the following plans offered by Fidelis Care:
Independent Health is the best provider of affordable health insurance in New York, securing a MoneyGeek score of 93 out of 100. For this category, we weighted plans based more on premium affordability. Plans with lower monthly premiums often go hand-in-hand with higher out-of-pocket costs. This balance could prove advantageous if you require minimal medical attention.
We analyzed 458 Silver INN plans and 64 Silver OON plans to determine the winning company.
If you're focused soley on cost, MoneyGeek also determined the cheapest health insurance in New York.
Attractive price points
Low average MOOP expenses
Higher claim approval rate compared to competitors
Restricted plan options
Independent Health has 24 Silver OON plans, averaging $521 per month. Its MOOP costs are around $7,917, which is lower than its competitors in the Empire State market. This pricing structure may appeal to various policyholders, whether they need significant medical attention or just need a safety net in case of a health emergency.
The company's 0% claim denial rate is a testament to its commitment to addressing its policyholders' medical necessities. With such a minuscule rate of denied claims, individuals can rest assured that their health care expenses will be taken care of when the need arises.
A minor drawback to consider is the limited variety of plan types offered by Independent Health, which may leave some potential customers yearning for more options to suit their specific needs.
Plan Recommendations
We recommend taking a closer look at these Silver plans offered by Independent Health:
With a MoneyGeek score of 90 out of 100, Independent Health rises to the top as the best health insurance option for young New Yorkers. We examined providers that offer Bronze or Catastrophic plans. These plans are known for their budget-friendly premiums and high out-of-pocket costs. Keep in mind that Catastrophic plans cater exclusively to those under 30 years old.
For Bronze plans, we rated 602 INN and 48 OON options. As for Catastrophic plans, we evaluated 140 INN and 4 OON offerings.
Has the lowest average premiums
More likely to approve claims than competitors
Moderate MOOP expenses
Independent Health offers the lowest average premiums ranging from $374 to $1,065, which can be appealing to young adults on a tight budget or with limited health care needs. Potential customers can choose between 24 Bronze OONs and four Catastrophic OONs.
This insurer has a higher claim approval rate compared to competitors, which can instill confidence in policyholders that their health care expenses are more likely to be covered when needed.
However, Independent Health might require you to pay relatively more compared to CDPHP before your insurance fully covers your medical costs. The MOOP expenses are around $7,857, but it’s still on the affordable side.
Plan Recommendations
Here are Independent Health’s best plans for young adults:
Health insurance providers offer various plan types to cater to different needs. In New York, the top providers for each plan type are:
We focused our recommendations on Silver plans since they typically strike a balance between premium costs and out-of-pocket expenses. We analyzed 458 Silver INN and 64 Silver OON plans.
CDPHP offers 72 Silver INN plans, with an average monthly premium of $849 and a maximum out-of-pocket (MOOP) expense of $7,717. This makes it one of the most affordable providers in the New York market. A key advantage of choosing CDPHP is its impressive 0% claim denial rate, which likely means that policyholders can have peace of mind knowing that their claims have a chance of getting approved without any hassle or delay.
The combination of affordability and a reliable claim approval process makes CDPHP a top choice for those in search of a dependable health insurance plan. By opting for one of CDPHP's Silver INN plans, you can anticipate receiving the necessary health care services without breaking the bank.
Plan Recommendations
For Silver-tier plans under the INN category, we recommend:
Featuring an average monthly premium of $521 and a MOOP expense of around $7,917, Independent Health is one of the most cost-effective OON providers in the state. Like CDPHP, it also boasts an exceptional 0% claim denial rate. This suggests that policyholders can expect their claims to be approved if they go through the proper claims process. Independent Health offers 24 Silver OON plans.
Plan Recommendations
We suggest considering the following Silver plans within the OON category:
Health insurance costs depend on if the applicant is an individual, couple, parent and child only or family. This helps insurers create coverage to cater to each group's unique requirements.
Earning a MoneyGeek score of 100 out of 100, Independent Health emerges as the top health insurance for New York families. Note that our suggestions are centered on Silver plans, which are known for balancing premiums and out-of-pocket expenses, making them a favored option for numerous families.
Independent Health provides 24 Silver OON plans tailored for families. The average monthly premium for these plans stands at $1,485, accompanied by a MOOP expense of approximately $7,917. These are among the best rates and MOOPs families in New York can expect to find from providers in the state.
Plan recommendations:
We recommend exploring these plans for your family:
Finding the ideal health insurance plan for you in New York depends on your personal health care requirements and your preferences regarding monthly premium costs compared to costs for care.
Understand when a health insurance plan will cover you
New York health insurance companies offer in-network (INN) and out-of-network (OON) coverage options. There are 1,944 INN plans and 220 ONN plans in the state. OON plans grant you the freedom to visit any health care provider, even those without a contract with your insurer. This flexibility may result in higher copay costs since the providers aren't bound by contractual agreements with your insurance company. INN plans limit your choices to providers who have contracts with your insurer. The advantage of INN plans is that deductibles and co-insurance costs are typically lower since the contracted providers agree to offer services at negotiated rates.
Weigh the cost of premiums vs. the cost of care
Low monthly premium plans often have higher out-of-pocket costs. For instance, Independent Health offers premiums of around $521 monthly with a MOOP of roughly $7,917, while CDPHP costs $849 monthly with MOOPs of about $7,717. Consider this balance when choosing a health insurance plan.
For individuals over 65 or with specific qualifying conditions, Medicare in New York is an accessible health care option. Although not entirely free, it remains more affordable than private insurance plans.
Medicare consists of three main components:
To enhance your coverage, you may consider looking at the best Medicare Advantage and best Medicare Supplement plans.
The most affordable health insurance option in New York for eligible individuals is Medicaid. This free government program is available to those with incomes below 138% of the Federal Poverty Level. In expansion states like New York, Medicaid eligibility is determined solely based on income.
New Yorkers seeking health insurance typically inquire about costs and options. We provide answers to frequently asked questions to help you choose the best coverage for your needs.
With competitive rates, low out-of-pocket costs and a lower claims denial rate, Independent Health can be a prudent choice for individuals seeking reliable coverage minus undue financial risks. It earned a MoneyGeek score of 94 out of 100.
It's essential to strike a balance between premium costs and the cost of care when selecting a health insurance plan. Keep in mind that different plan types offer varying levels of in-network and out-of-network coverage, which can significantly impact your overall health care expenses and experience.
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
