Cheapest Health Insurance in New Jersey (2024 Plans)

The metal tier you choose for your health insurance plan will impact premiums and out-of-pocket costs. In New Jersey, AmeriHealth offers the most affordable Bronze plan, WellCare of New Jersey has the cheapest Gold, and Aetna CVS Health offers the cheapest Silver.

If you're looking to balance monthly premiums with quality claims and coverage, MoneyGeek also researched the best health insurance in New Jersey.

The most cost-effective option in the Silver tier for New Jersey residents is the Silver 1: Aetna Whole Health Network + $0 MinuteClinic visits offered by Aetna CVS Health, with a monthly cost of $414. Silver plans are the most common due to their balance of monthly costs and out-of-pocket expenses. For individuals who are willing to accept higher out-of-pocket costs for lower monthly premiums, Bronze plans are an alternative.

Health insurance costs are determined by the metal tier, with higher premiums often leading to lower out-of-pocket costs, whereas lower premiums might mean higher deductibles and other expenses.

Here are the most affordable health insurance plans in New Jersey from each metal tier:

• Catastrophic: Horizon Advantage EPO Essentials from Horizon Blue Cross Blue Shield of New Jersey ($319 per month for a 26-year-old)
• Bronze: IHC Bronze EPO HSA AmeriHealth Advantage $25/$50 from AmeriHealth ($379 per month)
• Silver: Silver 1: Aetna Whole Health Network + $0 MinuteClinic visits from Aetna CVS Health ($414 per month)
• Gold: Gold 1008 from WellCare of New Jersey ($623 per month)

For more information on plans to fit your budget and health care needs, explore other cheap health insurance plans.

The most affordable Silver health plan in New Jersey is Silver 1: Aetna Whole Health network + $0 MinuteClinic visits offered by Aetna CVS Health at a monthly cost of $414.

Here are the three most competitively priced Silver plans in New Jersey:

• Silver 1: Aetna Whole Health network + $0 MinuteClinic visits from Aetna CVS Health ($414 per month)
• Silver 2: Aetna Whole Health network + $0 MinuteClinic visits from Aetna CVS Health ($415 per month)
• IHC Select Silver EPO AmeriHealth Advantage $25/$50 from AmeriHealth ($427 per month)

Silver plans are ideal for individuals who anticipate moderate health care needs; they strike a balance between monthly premiums and out-of-pocket costs. Qualified low-income individuals and families may benefit from cost-sharing reductions on Silver plans, which lower deductibles, copayments and co-insurance.

The most affordable Gold plan in New Jersey is the Gold 1008 from WellCare of New Jersey, costing $623 monthly.

The three most affordable Gold health plans available in New Jersey are:

• Gold 1008 from WellCare of New Jersey ($623 per month)
• Gold 1: Aetna Whole Health Network + $0 MinuteClinic Visits + $0 CVS Health Virtual Care 24/7 from Aetna CVS Health ($733 per month)
• Gold 1: Aetna Whole Health Network + $0 MinuteClinic Visits + + $0 CVS Health Virtual Care + Ped Dental from Aetna CVS Health ($736 per month)

Gold plans are well-suited for individuals who expect to need moderate to high medical care throughout the year. With higher monthly premiums, these plans typically offer lower out-of-pocket costs when accessing health care services. Customers who prioritize more comprehensive coverage and a lower deductible often find Gold plans to be a beneficial option for their health care needs.

The most affordable Bronze health plan in New Jersey is IHC Bronze EPO HSA AmeriHealth Advantage $25/$50 from AmeriHealth, with a monthly cost of $379. Here are the three most affordable Bronze health insurance plans in New Jersey:

• IHC Bronze EPO HSA AmeriHealth Advantage $25/$50 from AmeriHealth ($379 per month)
• Bronze 2 HSA: Aetna Whole Health Network + MinuteClinic + Virtual Care 24/7 from Aetna CVS Health ($386 per month)
• Bronze 2 HSA: Aetna Whole Health network + MinuteClinic + Virtual Care + Ped Dental from Aetna CVS Health ($387 per month)

Bronze plans are well-suited to individuals who want to keep their monthly premiums low. These plans are a good fit for those who don't expect to need frequent medical care and are comfortable with the possibility of higher out-of-pocket costs when they do seek health care services.

The most affordable Catastrophic-tier health plan in New Jersey is the Horizon Advantage EPO Essentials offered by Horizon Blue Cross Blue Shield of New Jersey at a monthly cost of $319. The two most affordable Catastrophic health insurance plans in New Jersey are:

• Horizon Advantage EPO Essentials from Horizon Blue Cross Blue Shield of New Jersey ($319 per month)
• IHC Local Value Simple Saver from AmeriHealth of New Jersey ($342 per month)

Catastrophic plans are designed for young adults under 30 or people with a hardship exemption looking for low-premium plans to safeguard against health emergencies. These plans are usually the cheapest available in terms of premiums but have very high out-of-pocket maximums. They offer financial protection against high medical costs for serious accidents or illnesses.

In New Jersey, the most popular plan type is EPO (Exclusive Provider Organization). Residents looking for health insurance can also consider PPO (Preferred Provider Organization) and HMO (Health Maintenance Organization) plans.

The most affordable EPO plan in New Jersey is the Silver 1: Aetna Whole Health network + $0 MinuteClinic Visits from Aetna CVS Health, costing $414 per month.

• EPO: Silver 1: Aetna Whole Health network + $0 MinuteClinic Visits from Aetna CVS Health ($414)
• PPO: [Plan Name] from [Company] (Cost per Month)
• HMO: [Plan Name] from [Company] (Cost per Month)

While EPO plans are the most sought after, PPO plans provide flexibility in seeing providers out of the network, and HMO plans often offer lower premiums in exchange for a limited network and a requirement to have a primary care physician.

Health insurance rates and availability of certain plans can vary by location. However, our research found that the most affordable Silver plan in New Jersey is the same in Bergen and Salem, the least and most-populated counties in the state, respectively:

• Silver 1: Aetna Whole Health Network + $0 MinuteClinic Visits from Aetna CVS Health ($414 per month)

The following table shows all available plans in each county in New Jersey so you can view the options for where you live.

In New Jersey, age impacts how much you pay for health insurance within metal tiers. A Silver plan costs an 18-year-old about $393 a month, but a 60-year-old pays much more, around $1,060 for the same plan. That's a $667 difference each month.

Metal tiers are about how you and your plan split costs. For a 40-year-old, a Bronze plan costs around $432 a month and has lower monthly payments but pays less of your medical costs. A Gold plan, which covers more medical costs, is pricier at about $959 a month, which is $527 more each month than Bronze plan.

MoneyGeek broke down all the health insurance options in New Jersey — including private insurance in the marketplace, Medicaid and Medicare — to help you find the ideal plan for your needs.

Open enrollment for health insurance in New Jersey is the same as the federal enrollment period, which runs from November 1st through January 31st of the following year. During this window, residents can shop for private health insurance coverage through the state's marketplace, Get Covered New Jersey, to enroll in a new plan or change an existing one.

If you miss the open enrollment deadline, you may still be able to get coverage if you qualify for a Special Enrollment Period (SEP) due to life events like getting married, having a baby or losing other health coverage. Otherwise, you'll have to wait until the next open enrollment period unless you're eligible for programs like Medicaid or NJ FamilyCare, which allow enrollment year-round.

Medicaid is a public health care program that provides medical assistance to low-income individuals and families. In New Jersey, eligibility is based on income, family size and specific criteria such as pregnancy, age, disability or having dependents under 18. Eligibility guidelines follow federal and state standards, with New Jersey offering several Medicaid programs, including NJ FamilyCare, to assist a broader population. Applicants must meet certain income thresholds, which vary depending on the program and household size.

Medicare is a federal health insurance program primarily for individuals aged 65 and older, but it is also available to some younger people with disabilities and those with end-stage renal disease. In New Jersey, as in the rest of the U.S., eligibility for Medicare depends on age, disability status and disease criteria. Medicare coverage is divided into several parts: Part A covers inpatient hospital care, skilled nursing facility care and hospice care. Part B includes outpatient care, doctors' services and preventive services. Part C, also known as Medicare Advantage, offers an alternative way to receive Medicare benefits through private insurance companies. Part D provides prescription drug coverage.

MoneyGeek found the best Medicare Advantage Plans in New Jersey and the best Medicare Supplement plans in New Jersey.

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 New Jersey to help you learn more.