Cheapest Health Insurance in Hawaii (2024 Plans)
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Switching from the popular Silver tier affects health insurance premiums and out-of-pocket costs. Kaiser Permanente offers the most affordable plans across all tiers in Hawaii.
If you're looking to balance affordability with high quality and ample coverage options, MoneyGeek also analyzed the best health insurance in Hawaii.
Most Affordable Health Insurance in Hawaii
Cheapest Health Insurance in Hawaii by Metal Tier
The most cost-effective option in the Silver tier in Hawaii is the KP HI Standard Silver 5900/40 offered by Kaiser Permanente, popular for its balance of coverage and cost, with a monthly rate of $457. Silver plans are the most common choice for their moderate premiums and copays. However, for those seeking to lower their monthly expenses at the expense of higher out-of-pocket costs, Bronze plans are available.
Health insurance costs are determined by the metal tier, with each tier balancing the trade-off between higher monthly premiums and lower out-of-pocket costs when needing care.
Here are the most affordable health insurance plans from each metal tier:
- Catastrophic: HMSA Catastrophic Plan ($170) — Note: available only to individuals under 30 or with a qualifying hardship exemption.
- Bronze: KP HI Bronze 6500/30% ($360)
- Expanded Bronze: KP HI Standard Bronze 7500/50 ($360)
- Silver: KP HI Standard Silver 5900/40 ($457)
- Gold: KP HI Standard Gold 1500/30 ($480)
- Platinum: KP HI Standard Platinum 0/10 ($609)
To learn more about cheap health insurance options that fit your budget and needs, explore further details and comparisons.
In Hawaii's health insurance marketplace, consumers have access to various "metal" tier plans, namely Bronze, Silver, Gold and Platinum, each correlating to different coverage levels and costs. Catastrophic plans are also available for those under 30 or with a hardship exemption.
The trade-off between metal tiers involves premiums and out-of-pocket expenses. Higher-value metal tiers like Gold and Platinum come with higher monthly premiums but lower out-of-pocket costs when receiving care. Conversely, Bronze plans tend to have lower monthly premiums but higher out-of-pocket expenses.
For individuals below 250% of the Federal Poverty Line, cost-sharing reductions (CSRs) are available on Silver plans. CSRs lower the amount you have to pay for deductibles, copayments, and co-insurance, making health care more affordable and accessible. This assistance helps make routine care and medical treatments more financially manageable for eligible individuals.
Therefore, when selecting a plan, consumers should consider not only the monthly cost but also their medical care needs and financial situation to optimize their insurance benefits.
Cheapest Silver Plans in Hawaii
The most cost-effective Silver tier healthcare plan in Hawaii is the KP HI Standard Silver 5900/40 offered by Kaiser Permanente, with a monthly cost of $457.
The top three affordable Silver plans available are:
- KP HI Standard Silver 5900/40 from Kaiser Permanente ($457 per Month)
- KP HI Silver 4000 Ded/600 Rx Ded from Kaiser Permanente ($470 per Month)
- KP HI Silver 3000 Ded/600 Rx Ded Plus CAM from Kaiser Permanente ($485 per Month)
Silver plans are ideal for individuals who anticipate needing moderate health care services. These plans balance monthly premium costs with out-of-pocket expenses for care. If eligible, customers can benefit from cost-sharing reductions, which reduce the amount paid for deductibles, copayments, and co-insurance, effectively lowering the overall costs for health care services under a Silver plan.
Cheapest Gold Plans in Hawaii
The most affordable Gold tier health plan in Hawaii is the KP HI Standard Gold 1500/30 offered by Kaiser Permanente, available at a monthly cost of $480. This stands as the cheapest plan among the following Gold plans:
- KP HI Standard Gold 1500/30 from Kaiser Permanente ($480 per Month)
- HMSA Gold PPO II from Blue Cross Blue Shield ($488 per Month)
- KP HI Gold 1000 Ded/250 Rx Ded from Kaiser Permanente ($497 per Month)
Gold plans are particularly suitable for customers expecting to need moderate to high levels of care. They offer a balance between monthly premium costs and out-of-pocket expenses. These plans are a good choice for those who are willing to pay a higher monthly premium in exchange for lower costs when receiving medical care.
Cheapest Bronze Plans in Hawaii
The KP HI Bronze 6500/30% plan from Kaiser Permanente emerges as the sole Bronze tier offering in Hawaii, coming in at a monthly cost of $360.
Bronze plans are specifically designed for individuals who prefer lower monthly premiums and are comfortable with higher out-of-pocket expenses when accessing health care services. These plans are generally ideal for those who are relatively healthy and do not anticipate frequent medical services. The reduced premiums provide a cost-effective option for customers seeking basic coverage and protection against unforeseen medical events.
Cheapest Expanded Bronze Plans in Hawaii
The most affordable option in the Expanded Bronze tier in Hawaii is the KP HI Standard Bronze 7500/50 offered by Kaiser Permanente with a monthly cost of $360.
Introducing the three most economical Expanded Bronze plans in Hawaii:
- KP HI Standard Bronze 7500/50 from Kaiser Permanente ($360)
- KP HI Bronze 6000/65 Plus CAM from Kaiser Permanente ($388)
- HMSA Bronze PPO I from Blue Cross Blue Shield ($414)
Expanded Bronze plans are designed for individuals seeking a balance between monthly premium cost and out-of-pocket expenses. These plans typically feature lower monthly premiums compared to Gold or Silver plans, making them a good choice for those who are healthy and do not anticipate frequent medical services. However, they still provide essential health benefits, making them a viable option for customers wanting a safety net for unexpected health issues without high monthly costs.
Cheapest Catastrophic Plans in Hawaii
HMSA Catastrophic Plan from Blue Cross Blue Shield is the sole Catastrophic tier plan available in Hawaii, with a monthly cost of $170.
Catastrophic health plans, such as the HMSA Catastrophic Plan, are designed primarily for young individuals under the age of 30 who are looking for protection against worst-case scenarios. These plans offer a safety net for major health crises by covering essential health benefits after a high deductible is met. They are cost-effective month to month but require the insured to pay most routine medical expenses out-of-pocket until the deductible is reached, making them suitable for those without significant ongoing health concerns.
Cheapest Platinum Plans in Hawaii
The most affordable Platinum tier plan in Hawaii is the KP HI Standard Platinum 0/10 offered by Kaiser Permanente, with a monthly cost of $609.
Platinum health plans are typically ideal for customers who anticipate needing frequent medical care. These plans offer the highest monthly premiums but also the lowest out-of-pocket costs when care is needed. Therefore, they are well-suited to those who seek peace of mind knowing their health care expenses will be largely covered.
Cheapest Health Insurance in Hawaii for Those With Low Income
Hawaii residents with annual earnings that are 250% below the Federal Poverty Level (FPL) are eligible for cost-sharing reductions (CSRs) on Silver plans. These CSRs help low-income individuals by reducing their health costs through lower deductibles and out-of-pocket expenses.
The most affordable Silver plan for individuals earning between 100% to 150% of the FPL, or $16,770 to $25,155 per year, is the KP HI Standard Silver 5900/40 from Kaiser Permanente, with a Maximum Out-of-Pocket cost of $1800.
The maximum out-of-pocket costs for two of the most affordable Silver plans are:
- KP HI Standard Silver 5900/40 from Kaiser Permanente (Monthly Cost: $457, Maximum Out-of-Pocket: $1800)
- KP HI Silver 4000 Ded/600 Rx Ded from Kaiser Permanente (Monthly Cost: $470, Maximum Out-of-Pocket: $2000)
Cost-sharing reductions in Hawaii are obtainable only with Silver plans. The mentioned annual income amounts suit a single individual, with variations depending on household size.
Cost-sharing reductions (CSRs) are discounts that lower the amount you pay for health care with Silver plans. To qualify, individuals must have low to moderate income.
For example, with CSRs, the maximum out-of-pocket cost for Kaiser Permanente's Silver plan might decrease to $1,800 for higher-income individuals compared to $7,200 for those with lower incomes, illustrating significant potential savings on health expenses for eligible enrollees. Different CSR levels adjust plan costs, directly affecting one's financial responsibility.
Cheapest Health Insurance in Hawaii by Plan Type
In Florida, the Health Maintenance Organization (HMO) plan type stands out as the favorite among health insurance shoppers. The most affordable HMO plan available is the Silver Value 1815 from Health First Commercial Plans, Inc. at $460.
- HMO: Silver Value 1815 from Health First Commercial Plans, Inc. ($460)
- EPO: Silver Elite Saver Plus from Oscar ($507)
- POS: Gym Access IND Silver POS OA Standard 1440 from Florida Health Care Plans ($550)
- PPO: BlueOptions Silver 24J01-03 from Blue Cross Blue Shield ($929)
While HMO plans are the most popular in Florida, individuals can also select from EPO, POS, and PPO plans. These plans might be preferred for their unique benefits, such as the flexibility of EPO plans, which often do not require referrals to see specialists, or PPO plans, which typically offer broader networks and the option to see providers outside of the network. POS plans are a blend, offering features from both HMO and PPO plans.
In Hawaii, the most common type of health insurance plan is the Health Maintenance Organization (HMO). The other types of plans available in Hawaii include:
- Preferred Provider Organization (PPO)
Below is a list detailing the differences between these plan types:
Health Maintenance Organization (HMO): HMO plans have lower premiums and out-of-pocket costs. They focus on integrated care and preventive services, requiring members to select a primary care physician (PCP) who coordinates all their health needs and manages specialist referrals. The network of providers is more limited, and going outside of the network means services are not covered, except for emergencies. You must have a referral from your PCP to see a specialist.
Preferred Provider Organization (PPO): PPO plans offer more flexibility in choosing health care providers. Seeing specialists is easier without the need for referrals, and you can see both in-network and out-of-network providers, although the latter comes with higher costs. The premiums for PPO plans are usually higher than for HMO plans. Out-of-pocket costs can also be higher, and you may need to deal with more complicated billing and have to meet deductibles before the insurance pays for services.
Cheapest Health Insurance in Hawaii by County
Health insurance rates and availability of certain plans varies by county. When evaluating health insurance options in Hawaii, it's essential to recognize that your residence can significantly influence the options accessible to you, as well as their associated costs.
Comparing the most affordable plans in the largest and smallest counties by population shows this variation:
- Honolulu: "KP HI Standard Silver 5900/40" from Kaiser Permanente ($457)
- Kalawao: "KP HI Standard Silver 5900/40" from Kaiser Permanente ($457)
The following table displays all available plans in each county in Hawaii.
Health Insurance Costs in Hawaii by Age and Metal Tier
Age affects health insurance rates within metal tiers in Hawaii. An 18-year-old with a silver plan pays $365, while a 60-year-old with a silver plan pays $1,085. The cost difference is $720, with the older age group paying more.
Metal tiers indicate the balance of monthly costs and out-of-pocket expenses for health care services. A 40-year-old with a bronze plan pays $360, while the same person with a gold plan pays $507—a $147 increase for the higher-tier plan with more coverage.
What to Know About Health Insurance in Hawaii
MoneyGeek broke down all the health insurance options in Hawaii. We explain private insurance in the marketplace with its different metal tiers: Bronze, Silver, Gold, and Platinum. We also cover Medicaid and Medicare. Our goal is to help users make smart choices about their health care.
Private Health Insurance in the Hawaii Marketplace
In Hawaii, the open enrollment period typically begins on November 1st and ends on December 15th each year. This is the window when residents can shop for private health insurance through the Hawaii Health Connector, the state's health insurance marketplace. Enrolling during this time ensures coverage for the upcoming year. If you miss the enrollment deadline, you may have to wait until the next open enrollment period unless you qualify for a Special Enrollment Period (SEP) due to life events such as marriage, divorce, birth or adoption of a child, loss of other coverage, or moving to a new state.
Medicaid in Hawaii
Medicaid is a joint federal and state program providing health care coverage to low-income individuals and families. In Hawaii, eligibility for Medicaid largely depends on income, family size, and status, such as being pregnant, elderly, disabled, or a parent. The state has specific income thresholds based on the Federal Poverty Level, and those who meet the criteria can receive benefits to cover a wide array of health care services, from doctor visits and hospital stays to long-term care and preventive care. Special considerations are given to ensure that vulnerable populations, such as children and the elderly, have access to necessary health care services.
Medicare in Hawaii
Medicare is a federal health insurance program available to individuals 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease in the United States, including Hawaii. It consists of four parts: Part A (Hospital Insurance) covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Part B (Medical Insurance) covers certain doctors' services, outpatient care, medical supplies and preventive services. Part C (Medicare Advantage Plans) is an alternative to Original Medicare (Parts A and B) offered by private companies, providing additional benefits. Part D (Prescription Drug Coverage) adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans.
Hawaii Health Insurance FAQ
When looking for health insurance, you may have questions about cost and availability. MoneyGeek responded to frequently asked questions about cheap private health insurance in Texas to help you learn more.
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