Cheapest Rhode Island Health Insurance Plans (2023)

Different metal tiers of health insurance are available in Rhode Island with varying deductibles, premiums and maximum out-of-pocket (MOOP) limits. NHPRI is the cheapest for the Bronze, Silver and Gold tiers. Blue Cross Blue Shield offers the lowest cost for the Platinum tier, PPO and POS plans.

The baseline plan type in Rhode Island is HMO. The costs associated with plans can vary based on factors such as age, income level and coverage amount.

If you are looking to balance monthly premiums with quality claims and coverage, MoneyGeek analyzed the best health insurance in Rhode Island.

Neighborhood COMMUNITY from NHPRI is the most economical option among health insurance plans in the Silver tier, at around $364 a month. MoneyGeek compiled the cheapest options for each tier in the state:

• Bronze: Neighborhood INNOVATION from NHPRI ($270 per month)
• Silver: Neighborhood COMMUNITY from NHPRI ($364 per month)
• Gold: Neighborhood PLUS from NHPRI ($379 per month)
• Platinum: VantageBlue Direct Plan 750/1500 Modified from Blue Cross Blue Shield ($623 per month)

Higher-value metal tiers often come with increased premiums and lower out-of-pocket maximums, but they provide more comprehensive coverage. That’s why you need to assess your needs carefully when selecting a plan to ensure a balance between cost and coverage.

NHPRI’s Neighborhood COMMUNITY stands out as the most affordable Silver health insurance plan in Rhode Island. This plan provides a great balance between cost (around $364 per month) and coverage. The cheapest options in this tier are:

• Neighborhood COMMUNITY from NHPRI: $364 per month
• Neighborhood VALUE from NHPRI: $382 per month

The Silver metal tier finds a middle ground between cost-effective premiums and extensive coverage. It boasts reduced out-of-pocket expenses in comparison to Bronze plans, but its premiums tend to be higher. Conversely, it provides less coverage compared to Gold or Platinum plans, which generally come with higher premiums.

Since the most accessible plan in Rhode Island is an HMO, we focus our recommendations in this section on this type.

Neighborhood PLUS from NHPRI emerges as the most budget-friendly Gold health insurance plan available, costing approximately $379 per month. The top three affordable options are:

• Neighborhood PLUS from NHPRI: $379 per month
• Neighborhood ESSENTIAL from NHPRI: $387 per month
• BlueCHiP Direct Advance 2300/4600 from Blue Cross Blue Shield: $404 per month

The Gold metal tier offers more comprehensive coverage and lower out-of-pocket costs than Silver plans but at the expense of higher premiums. While it might be ideal for those who have higher health care costs, it might not be the most cost-effective choice for individuals with fewer health needs.

Neighborhood INNOVATION from NHPRI distinguishes itself as the premier budget-friendly choice among Bronze plan health insurance options. Its average monthly premium stands at around $270. The most affordable options in this tier include:

• Neighborhood INNOVATION from NHPRI: $270 per month
• Neighborhood ECONOMY from NHPRI $274 per month
• BlueSolutions for HSA Direct 6300/12600 Modified from Blue Cross Blue Shield: $322 per month

Compared to other tiers, the Bronze metal tier offers lower monthly premiums but higher out-of-pocket costs and less comprehensive coverage. It can be a suitable choice for young individuals or generally healthy people with limited health care needs.

VantageBlue Direct Plan 750/1500 Modified from Blue Cross Blue Shield is the most affordable choice within the Platinum tier options. You can expect to pay around $623 per month with this plan. The cheapest options in this tier are:

• VantageBlue Direct Plan 750/1500 Modified from Blue Cross Blue Shield: $623 per month
• VantageBlue Direct Plan 750/1500 from Blue Cross Blue Shield: $625 per month

The Platinum metal tier, while priced expensively, offers the advantage of lower out-of-pocket costs and extensive coverage for health care services. It ensures that you receive the best coverage despite the higher monthly premiums.

Health Maintenance Organization (HMO) plans are the most common plan type in Rhode Island, but there are also other options available through the exchange, including Point of Service (POS) and Preferred Provider Organization (PPO).

For these plans, our top recommendations for those who want the cheapest costs include:

• POS: BlueCHiP Direct Advance 4950/9900 from Blue Cross Blue Shield ($379 per month)
• PPO: BlueSolutions for HSA Direct 4100/8200 from Blue Cross Blue Shield ($450 per month)
• HMO: Neighborhood COMMUNITY from NHPRI ($364 per month)

When selecting a plan type, individuals must weigh the trade-offs between network limitations and cost, as well as the degree of flexibility in accessing health care providers.

Note that the availability of health insurance plans can vary across Rhode Island. Rates for these plans may also fluctuate based on your location, with differences even seen between counties within the state. That’s why it’s crucial to compare various plans to identify the most suitable option for your needs.

The table below displays the prices of available Silver plans by county. Use it to explore and select the ideal plan for your particular location.

The average monthly expenses for health insurance in Rhode Island can experience considerable variations depending on the chosen metal tier. Each metal tier signifies distinct levels of coverage and cost-sharing, with higher tiers typically providing superior coverage at a greater cost.

For a 40-year-old living in Rhode Island, the average monthly premium for each metal tier are as follows:

• Bronze: $297 per month
• Silver: $417 per month
• Gold: $443 per month
• Platinum: $624 per month

Higher-tier metal plans offer better coverage but come with increased premiums. The trade-off is paying more upfront, potentially saving you money if you require extensive medical care.

Health insurance costs typically rise with age due to increased health needs. For example, average Silver plan premiums for 18-year-olds are $298 per month, while 60-year-olds pay $886 per month.

We analyzed private health insurance data to discover the most cost-effective options. Typically accessible during open enrollment, these plans cater to various coverage requirements and financial circumstances. However, individuals with low income might qualify for Medicaid, while seniors and those with disabilities could be eligible for Medicare. These alternatives could provide more pocket-friendly and tailored options for those specific demographics.

Rhode Island residents can enroll in, re-enroll in or change health plans during open enrollment, which starts on November 1 and ends on January 15.

However, to get coverage that starts on January 1, you need to enroll or change plans by December 15 and pay your first premium. Waiting until after that date may result in a later start date for coverage.

Medicaid, a government-sponsored initiative, offers health insurance to low-income residents and families in Rhode Island. Income levels determine eligibility for Medicaid, and the program encompasses various health care services such as physician appointments, hospitalizations, prescription medications and additional care.

Medicare is a comprehensive federal health insurance program that provides coverage to individuals who are 65 years old or older or those who have certain disabilities or medical conditions.

Medicare has three parts:

• Part A covers hospital stays, skilled nursing facility care, hospice care and specific home health care services.
• Part B provides coverage for select doctors' services, outpatient care, certain medical supplies and preventive services.
• Part D functions as the prescription drug benefit, encompassing vaccines and various prescribed medications.

We have revised our rankings of the best Medicare Advantage plans and best Medicare Supplement plans in Rhode Island to reflect changes in plan offerings and pricing.

For individuals seeking health insurance, we answered the most prevalent questions about pricing and availability in Rhode Island.