BestHealth InsuranceVermontBest Vermont Health Insurance (2023 Plans)
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BestHealth InsuranceVermontBest Health Insurance in Vermont
Best Overall - Mountain Health CO-OP
Best for Low MOOP - Mountain Health CO-OP
Best Cheap - Blue Cross Blue Shield
Best for Young Adults - Blue Cross Blue Shield
Best for HMO - Mountain Health CO-OP
Best for EPO - Blue Cross Blue Shield
Best Overall for Health Insurance in Vermont
Mountain Health CO-OP offers the best health insurance in Vermont, earning a MoneyGeek score of 68 out of 100. This provider stands out for having low maximum out-of-pocket (MOOP) costs and a better-than-average claims processing record.
To determine the best health insurance providers in Vermont, MoneyGeek analyzed 67 EPO and 67 HMO Silver plans available in the state.
pros
Has the lowest average MOOP in our comparison group
Denies fewer claims than competitors
cons
Has relatively expensive premiums
Offers limited plan types
COMPANY HIGHLIGHTS
Mountain Health CO-OP emerged as the best company for health insurance in Vermont in our study. This provider offers 67 Silver HMO plans in Vermont. HMO plans tend to be cheaper than other plan types like PPO plans, but the downside is that they do not provide out-of-network coverage and require a referral for specialist visits.
Mountain Health CO-OP Silver plans cost an average of $855 per month. Although this provider does not offer the cheapest rates, its MOOP costs, which average $7,163, are the lowest among the providers analyzed. This means that despite the slightly high monthly premiums, you will pay less out of pocket if you require medical care.
Among the health insurance providers analyzed by MoneyGeek, Mountain Health CO-OP had the lowest claims denial rate at just 5.65%. This means that, on average, this provider honors legitimate claims and is less likely than other insurers to deny a claim.
Plan Recommendations
MoneyGeek recommends the following plans from Mountain Health CO-OP for those who don't mind slightly higher premiums in exchange for relatively low MOOP costs:
- MVP VT Plus Silver 1: $841 per month, MOOP of $7,000
- MVP VT HDHP Silver 4: $848 per month, MOOP of $7,050
- MVP VT Plus HDHP Silver 2: $894 per month, MOOP of $5,500
Best Health Insurance in Vermont for Low Out-of-Pocket Costs
Mountain Health CO-OP is the best health insurer in Vermont for low MOOP costs, earning a MoneyGeek score of 58 out of 100. This insurer features relatively low rates and also stands out for its very low claims denial rate.
For this category, MoneyGeek analyzed Gold and Platinum plans available in Vermont, including 20 EPO and 20 HMO plans, to determine the best providers for low MOOP costs.
pros
Has a low claims denial rate
Offers the lowest premiums in our comparison group
cons
Has higher MOOP costs than competitors
Offers limited plan types
COMPANY HIGHLIGHTS
Mountain Health CO-OP offers the best private health insurance in Vermont if you are looking for health insurance with low out-of-pocket costs. This provider offers 15 Gold and five Platinum HMO plans. Although HMO plans have limitations when it comes to out-of-network care, they are cheaper, on average, compared to plan types like PPOs.
The average cost of the Gold and Platinum plans offered by Mountain Health CO-OP Platinum plan is $966 per month, and the average MOOP is $4,225. Mountain Health CO-OP also stands out for having an excellent claims processing record, with the lowest claims denial rate in the comparison group. This means that it is more likely than other insurers to honor claims.
Plan Recommendations
For minimal MOOP costs, MoneyGeek recommends the following plan from Mountain Health CO-OP:
- MVP VT Plus HDHP Gold 3: $913 per month, MOOP of $3,200
Best Cheap Health Insurance in Vermont
Blue Cross Blue Shield offers the best affordable health insurance in Vermont, with a MoneyGeek score of 56 out of 100.
MoneyGeek determined the best cheap health insurance provider based on which plans offered the lowest monthly premiums. However, it's worth noting that plans with lower monthly premiums tend to have higher out-of-pocket costs.
For this category, we rated Silver plans available in Vermont, including 20 EPO and 20 HMO plans.
If you're focused soley on cost, MoneyGeek also determined the cheapest health insurance in Vermont.
pros
Has the lowest monthly premiums in our comparison group
Offers EPO plans
cons
Denies more claims than competitors
Has relatively high MOOP costs
COMPANY HIGHLIGHTS
Blue Cross Blue Shield is our pick for the best cheap health insurance provider in Vermont. With an average monthly premium of $851, Blue Cross Blue Shield offers the most affordable rates in Vermont. However, its MOOP costs can be relatively high at an average of $7,456.
Blue Cross Blue Shield offers 20 Silver EPO plans in Vermont. EPO plans have affordable rates and do not require policyholders to get a referral to see a specialist in most cases. However, EPOs offer limited out-of-network coverage.
In addition, Blue Cross Blue Shield has a relatively high claims denial rate of 18%. This means that the company is more likely to deny claims compared to other insurers.
Plan Recommendations
MoneyGeek recommends the following plan from Blue Cross Blue Shield as the best cheap option in Vermont:
- BCBSVT Vermont Select Silver CDHP Plan: $837 per month, MOOP of $5,125
Best Health Insurance for Young Adults in Vermont
Blue Cross Blue Shield offers the best health insurance for young adults in Vermont, earning a MoneyGeek score of 62 out of 100.
To identify the best insurers for young adults, MoneyGeek analyzed health insurance companies offering Bronze or Catastrophic plans. These plans tend to have cheaper premiums but high out-of-pocket costs. Catastrophic plans are typically the most affordable but are only available to those under the age of 30.
For this category, we reviewed Bronze and Catastrophic plans available in Vermont, including 27 EPO and 27 HMO plans.
pros
Offers the most affordable rates in our comparison group
Has relatively low MOOP costs
Offers EPO plans
cons
Has a relatively high claims denial rate
COMPANY HIGHLIGHTS
Blue Cross Blue Shield is the best health insurer for young adults in Vermont. Plans from this insurer cost an average of $587 per month, among the cheapest rates in the state. The company's average MOOP for Bronze and Catastrophic plans is $8,400.
Blue Cross Blue Shield offers 25 Bronze EPO plans and two Catastrophic EPO plans in Vermont, all of which are EPO plans. This plan type is generally affordable but requires policyholders to stay in network to receive coverage, except in emergencies. However, unlike HMOs, EPOs normally do not require you to have a referral to see a specialist.
Although Blue Cross Blue Shield scores well in affordability and plan options, it has a worse-than-average claims denial rate. This means that compared to other insurers, Blue Cross Blue Shield is more likely to deny claims.
Plan Recommendations
MoneyGeek recommends the following Blue Cross Blue Shield plan for young adults in Vermont:
- BCBSVT Vermont Select Bronze CDHP Plan: $645 per month for 18 and 26-year-olds, MOOP of $7,150
Best Health Insurance by Plan Type in Vermont
Health insurance providers typically offer different plan types with varying costs, coverage options and benefits. Mountain Health CO-OP offers the best HMO plans in Vermont, while the best EPO plans are offered by Blue Cross Blue Shield.
Our analysis of the best health insurance providers by plan type is limited to Silver plans. Silver plans are a mid-tier option that balances premiums and out-of-pocket costs. There are 20 Silver EPO and 20 Silver HMO plans available in Vermont.
Best for HMO: Mountain Health CO-OP
COMPANY HIGHLIGHTS
Mountain Health CO-OP is the top provider for HMO plans in Vermont. This insurer offers 20 Silver HMO plans at an average cost of $855 per month, with MOOP costs averaging $7,163.
HMO plans are the most common plan type. They are ideal if you are looking for cheap monthly premiums since they are more affordable than other plan types. HMO plans only offer coverage for in-network care, so it's important to research the plan's network and make sure providers are easily accessible to you. In addition, you will need a referral from your primary care physician to see a specialist.
Mountain Health CO-OP also stands out for having an excellent claims processing record with the lowest denial rate among the insurers in the comparison group.
Plan Recommendations
MoneyGeek recommends the following Silver HMO plans from Mountain Health CO-OP:
- MVP VT Plus Silver 1: $841 per month, MOOP of $7,000
- MVP VT Plus HDHP Silver 2: $894 per month, MOOP of $5,500
Best for EPO: Blue Cross Blue Shield
COMPANY HIGHLIGHTS
Blue Cross Blue Shield is the best provider for EPO plans in Vermont. This insurer offers 20 Silver EPO plans at an average monthly cost of $851 and has average MOOP costs of $7,456.
EPO plans tend to be more affordable than some other plan types and offer slightly more flexibility than HMO plans. With an EPO plan, you are required to receive care from specified in-network providers, except for emergency situations. However, unlike an HMO plan, you do not need a referral to see a specialist.
Blue Cross Blue Shield has a slightly worse-than-average claims denial rate, meaning that it denies more claims than other insurers, on average.
Plan Recommendations
For the best EPO Silver plans in Vermont, MoneyGeek recommends the following plans from Blue Cross Blue Shield:
- BCBSVT Vermont Select Silver CDHP Plan: $837 per month, MOOP of $5,125
- BCBSVT Vermont Preferred Silver Plan: $841 per month, MOOP of $8,550
How to Find the Best Health Insurance for You in Vermont
The best health insurance in Vermont for you will depend on your health care needs and how much you are willing to pay in monthly premiums versus out-of-pocket costs. When buying a health insurance plan, keep these considerations in mind.
Understand when a health insurance plan will cover you
In Vermont, you can choose between HMO and EPO plans. There are 67 EPO and 67 HMO plans available. Both HMO and EPO plans are more affordable than some other plan types, but the trade-off for lower costs is that they restrict coverage to in-network providers, except for emergencies.
Weigh the cost of premiums vs. the cost of care
Health insurance plans with the lowest monthly premiums typically have high out-of-pocket costs. For instance, a Mountain Health CO-OP Silver plan costs an average of $855 per month, with an average MOOP cost of $7,163. A Platinum plan from the same provider costs $1,135 per month but has significantly lower MOOP costs of $1,500.
Consider Vermont Medicare or Medicaid if You’re Eligible
Medicare is a federal health insurance program that is available to seniors aged 65 or older and those with qualifying illnesses or disabilities.
Medicare offers the following key coverages:
- Medicare Part A: Covers inpatient hospital stays, hospice care and certain types of home health
- Medicare Part B: Covers outpatient care, including preventive services
- Medicare Part D: Covers prescription drugs
Medicare is an affordable alternative to private health insurance if you are eligible, but you may still incur costs in the form of deductibles, copayments and co-insurance.
MoneyGeek analyzed the best Medicare Supplement plans in Vermont and the best Medicare Advantage plans in Vermont to help you find a plan that suits your coverage needs.
Meanwhile, Medicaid is another government-sponsored health insurance program that is available to low-income individuals in Vermont to help cover health care costs. This program is available to you if your income falls below 138% of the Federal Poverty Level. Medicaid is the most affordable type of health insurance in Vermont if you qualify, and it does not require payment of premiums.
Frequently Asked Questions About Health Insurance in Vermont
MoneyGeek answered frequently asked questions about health insurance in Vermont to help you learn more about costs and availability.
About Mark Fitzpatrick
