Updated: May 22, 2024
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Choosing a different metal tier can shift health insurance premiums and out-of-pocket costs. In Virginia, Innovation Health Plan, Inc. offers the cheapest Bronze and Gold options, while Aetna Health Inc. and Kaiser Permanente lead in the Silver and Platinum tiers, respectively.
If you're looking to balance monthly premiums with quality claims and coverage, MoneyGeek also analyzed the best health insurance in Virginia.
CheapestHealth InsuranceVirginiaMost Affordable Health Insurance in Virginia
Why Trust MoneyGeek? We downloaded plan data for Virginia directly from the Centers for Medicare and Medicaid Services (CMS).
Plan data was updated with the CMS exchange data released in October, the latest available data for the 2024 enrollment period.
Discover the Silver 5: HMO Aetna Network of Doctors & Hospitals plan offered by Aetna Health Inc., the cheapest plan in the popular Silver tier in Virginia, with a monthly cost of just $367. Most consumers choose the Silver tier due to its balance of monthly premiums and out-of-pocket costs. For those looking to save on monthly rates at the risk of higher out-of-pocket costs, Bronze plans may be a suitable alternative.
Health insurance costs can differ significantly by metal tier, reflecting the balance between monthly premiums and the amount you pay when you need care, such as lower out-of-pocket costs and deductibles.
Here are the most affordable health insurance plans from each metal tier:
For more information on affordable health plans, explore options for cheap health insurance that fits your needs and budget.
| Bronze | PlanInnovation Health - Aetna Bronze S: HMO | CompanyInnovation Health Plan, Inc. | Monthly Cost$277 | Maximum Out-of-Pocket$9,400 |
| Gold | PlanInnovation Health - Aetna Gold 3: HMO | CompanyInnovation Health Plan, Inc. | Monthly Cost$362 | Maximum Out-of-Pocket$9,195 |
| Silver | PlanSilver 5: HMO Aetna network of doctors & hospitals | CompanyAetna Health Inc. | Monthly Cost$367 | Maximum Out-of-Pocket$8,885 |
| Platinum | PlanKP VA Standard Platinum 0 Ded/Vision | CompanyKaiser Permanente | Monthly Cost$497 | Maximum Out-of-Pocket$3,200 |
Consumers can choose from different metal tiers in the Virginia health insurance marketplace: Bronze, Silver, Gold and Platinum. Each tier represents a general level of coverage and a corresponding premium cost. Higher metal tier plans like Gold and Platinum have higher monthly premiums but offer lower out-of-pocket expenses when individuals require medical care. Conversely, Bronze plans have lower premiums but higher expenses when accessing health care services.
For those earning below 250% of the Federal Poverty Line, cost-sharing reductions are available on Silver plans. This means that while policyholders pay Silver-level premiums, they can benefit from reduced deductibles, copayments and co-insurance, making health care more affordable when needed. These savings in out-of-pocket costs can make a significant difference, ensuring better access to necessary medical care without the financial burden that higher cost-sharing obligations might impose.
The most cost-efficient Silver tier plan for Virginians is the Silver 5: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc., priced at $367 monthly.
The three most affordable Silver plans in Virginia by monthly cost are as follows:
Silver plans are well-suited for individuals and families who expect moderate health care use. They strike a balance between monthly premiums and out-of-pocket costs at the point of care. People with lower incomes may qualify for cost-sharing reductions (CSRs), which can substantially decrease deductibles, copayments and co-insurance, leading to significant savings on overall health costs.
| Aetna Health Inc. | Monthly Cost$367 | Maximum Out-of-Pocket$8,885 | PlanSilver 5: HMO Aetna network of doctors & hospitals |
| Aetna Health Inc. | Monthly Cost$368 | Maximum Out-of-Pocket$9,100 | PlanSilver S: HMO Aetna network of doctors & hospitals |
| Innovation Health Plan, Inc. | Monthly Cost$369 | Maximum Out-of-Pocket$8,885 | PlanInnovation Health - Aetna Silver 5: HMO |
| Innovation Health Plan, Inc. | Monthly Cost$369 | Maximum Out-of-Pocket$9,100 | PlanInnovation Health - Aetna Silver S: HMO |
| Aetna Life Insurance Company | Monthly Cost$371 | Maximum Out-of-Pocket$9,100 | PlanSilver S: EPO Aetna network of doctors & hospitals |
The Innovation Health - Aetna Gold 3: HMO plan is Virginia's most affordable Gold tier health plan, offered by Innovation Health Plan, Inc. It has a monthly cost of $362.
The most affordable Gold health plans available in Virginia are:
Gold plans are a good choice for customers who expect high medical costs and prefer lower out-of-pocket costs when they receive care. These plans offer a balance between the premium and out-of-pocket expenses, which is beneficial for those needing access to frequent medical care. These plans also provide more predictable costs, which can help in budgeting for health care expenses.
| Innovation Health Plan, Inc. | Monthly Cost$362 | Maximum Out-of-Pocket$9,195 | PlanInnovation Health - Aetna Gold 3: HMO |
| Aetna Health Inc. | Monthly Cost$363 | Maximum Out-of-Pocket$9,195 | PlanGold 3: HMO Aetna network of doctors & hospitals |
| Aetna Health Inc. | Monthly Cost$364 | Maximum Out-of-Pocket$8,700 | PlanGold S: HMO Aetna network of doctors & hospitals |
| Innovation Health Plan, Inc. | Monthly Cost$364 | Maximum Out-of-Pocket$8,700 | PlanInnovation Health - Aetna Gold S: HMO |
| Aetna Life Insurance Company | Monthly Cost$367 | Maximum Out-of-Pocket$8,700 | PlanGold S: EPO Aetna network of doctors & hospitals |
The Innovation Health - Aetna Bronze S: HMO plan from Innovation Health Plan, Inc. stands out as the most affordable Bronze plan in Virginia, with a monthly cost of $277.
Diving into the most affordable Bronze plans, Virginia residents have several options:
Bronze plans are particularly suited for individuals who want to keep their monthly premiums low and are comfortable with higher out-of-pocket expenses when accessing health care services. These plans are ideal for those who do not expect extensive medical care throughout the year and seek coverage for worst-case health care scenarios.
| Innovation Health Plan, Inc. | Monthly Cost$277 | Maximum Out-of-Pocket$9,400 | PlanInnovation Health - Aetna Bronze S: HMO |
| Aetna Health Inc. | Monthly Cost$287 | Maximum Out-of-Pocket$9,400 | PlanBronze S: HMO Aetna network of doctors & hospitals |
| Kaiser Permanente | Monthly Cost$289 | Maximum Out-of-Pocket$9,450 | PlanKP VA Bronze 7500 Ded |
| Kaiser Permanente | Monthly Cost$302 | Maximum Out-of-Pocket$7,050 | PlanKP VA Bronze 7000 Ded/HSA/Vision |
| Sentara Health Plans | Monthly Cost$303 | Maximum Out-of-Pocket$9,450 | PlanSentara Direct M Bronze 7200 Ded |
The most affordable Catastrophic plan in Virginia is the KP VA Catastrophic 9450 Ded/Vision offered by Kaiser Permanente, with a monthly cost of $160.
The top three most economical Catastrophic health plans in Virginia are:
Catastrophic plans are for adults under 30 or those with a hardship exemption. These plans have low premiums but high out-of-pocket costs, making them suitable for those who want to minimize monthly expenses while still having a safety net for major medical events. They are not recommended for those who expect regular medical visits or need frequent prescriptions.
| Kaiser Permanente | Monthly Cost$160 | Maximum Out-of-Pocket$9,450 | PlanKP VA Catastrophic 9450 Ded/Vision |
| CareFirst BlueCross BlueShield | Monthly Cost$164 | Maximum Out-of-Pocket$9,450 | PlanBlueChoice HMO Young Adult 9450 Med Ded |
| HealthKeepers, Inc. | Monthly Cost$200 | Maximum Out-of-Pocket$9,450 | PlanAnthem HealthKeepers Catastrophic X DED 9450 |
| Oscar Insurance Company | Monthly Cost$223 | Maximum Out-of-Pocket$9,450 | PlanSecure |
Virginia's most affordable Platinum plan is the KP VA Standard Platinum 0 Ded/Vision from Kaiser Permanente, with a monthly cost of $497.
Platinum health plans are ideal for customers who expect high medical usage and prefer paying higher premiums for more coverage, with lower out-of-pocket costs when accessing health care services. These plans, offering the lowest out-of-pocket expenses compared to other metal tiers, are suitable for those who visit doctors frequently or have ongoing medical treatment needs. They provide peace of mind for customers seeking comprehensive coverage with minimal additional expenses.
| Kaiser Permanente | Monthly Cost$497 | Maximum Out-of-Pocket$3,200 | PlanKP VA Standard Platinum 0 Ded/Vision |
Cost-sharing reductions (CSRs) are discounts that lower the amount you pay for deductibles, copayments and co-insurance on Silver health insurance plans. To qualify, your income must be between 100% and 250% of the federal poverty level. For instance, without CSRs, the Silver plan's maximum out-of-pocket could be $7,900. With a high level of CSR, the maximum out-of-pocket might drop to $2,500, significantly decreasing the costs you would pay in a high-medical-use year.
Health Maintenance Organization (HMO) plans are the most popular plan type in Virginia. Virginia's most affordable health plan within the HMO category ensures budget-conscious Virginians can access necessary health care services.
The cheapest Silver plans in Virginia by plan type are:
Generally, HMO plans are cheaper than EPO (Exclusive Provider Organization) and PPO (Preferred Provider Organizations) plans. However, HMO plans limit coverage to services received within the HMO's health care provider network and require referrals to see specialists.
| Aetna Health Inc. | Monthly Cost$367 | Maximum Out-of-Pocket$8,885 | PlanSilver 5: HMO Aetna network of doctors & hospitals |
| Aetna Health Inc. | Monthly Cost$368 | Maximum Out-of-Pocket$9,100 | PlanSilver S: HMO Aetna network of doctors & hospitals |
| Innovation Health Plan, Inc. | Monthly Cost$369 | Maximum Out-of-Pocket$8,885 | PlanInnovation Health - Aetna Silver 5: HMO |
| Innovation Health Plan, Inc. | Monthly Cost$369 | Maximum Out-of-Pocket$9,100 | PlanInnovation Health - Aetna Silver S: HMO |
| Aetna Health Inc. | Monthly Cost$375 | Maximum Out-of-Pocket$8,445 | PlanSilver 6: HMO Aetna network of doctors & hospitals |
The most common plan type in Virginia is the Health Maintenance Organization (HMO), but it's not the only one. Here's a breakdown of the differences between each available plan type:
Health Maintenance Organization (HMO): HMO plans require members to choose a primary care physician (PCP) and obtain referrals from their PCP to see specialists. This feature can benefit coordinated care but may limit flexibility in choosing health care providers. Typically, HMOs offer lower premiums and out-of-pocket costs in exchange for a limited network of doctors and hospitals. Members normally cannot receive coverage for services rendered by out-of-network providers unless it's an emergency.
Exclusive Provider Organization (EPO): EPO plans provide a network of health care providers that members can use, but unlike HMOs, they usually do not require referrals to see specialists, offering a bit more freedom. While providing more flexibility than HMOs, EPO plans may impose higher costs when using out-of-network providers, often without any coverage unless it's for emergency care.
Preferred Provider Organization (PPO): PPO plans offer the most flexibility, allowing members to see specialists and out-of-network providers without referrals. This convenience is well-suited for individuals desiring more choice and direct access to a variety of health care services. The increased flexibility comes with higher premiums and costs. PPOs provide some coverage for out-of-network care, but it will be at a lower level than in-network services.
Health insurance rates and availability of certain plans vary by county in Virginia, with each location presenting a unique landscape of options and costs for its residents.
Comparing the most affordable plans in the largest and smallest counties by population shows this variation in monthly rates:
The following table displays all available plans in each county in Virginia so you can compare rates between locations.
| Sentara Health Plans | Monthly Cost$355 | Maximum Out-of-Pocket$9,000 | PlanSentara Direct M Silver 6600 Ded |
| Sentara Health Plans | Monthly Cost$356 | Maximum Out-of-Pocket$9,100 | PlanSentara Standard M Silver 5900 Ded |
In Virginia, age plays a significant role in setting health insurance prices within metal tiers. A Silver plan for an 18-year-old costs an average of $415 per month, while a 60-year-old pays $1,232 for the same type of plan, demonstrating a difference of $817.
Health insurance costs for a 40-year-old with a Bronze plan are $331 monthly, while a Gold plan costs $560 for the same age. That's a difference of $229, with the Gold plan being more expensive due to offering more coverage.
MoneyGeek broke down all the health insurance options in Virginia. We explain private insurance that people can buy in the market, including different levels like metal tiers, and we also cover Medicaid and Medicare. Our goal is to help you understand your choices so you can pick the best health care for yourself.
In Virginia, the open enrollment period for health insurance through the Health Insurance Marketplace typically runs from November 1 to December 15 each year. Residents can shop for, compare and purchase private health insurance plans during this time. If you miss the deadline, you'll generally have to wait until the next open enrollment period to get coverage unless you qualify for a Special Enrollment Period (SEP). A SEP can occur due to certain life events, such as getting married, having a baby or losing other health coverage, which allows you to enroll outside the standard period.
Medicaid is a joint state and federal program that provides health care coverage to eligible adults, children, pregnant women, elderly adults and people with disabilities. In Virginia, eligibility is determined based on income, household size and other factors, with specific thresholds set for different groups. For example, children and pregnant women may qualify at higher income levels than other adults. Expanded Medicaid under the Affordable Care Act now allows more Virginians to get coverage, including those who meet income requirements up to 138% of the federal poverty level. Applications can be submitted anytime, with coverage beginning immediately if eligible.
Medicare is a federal health insurance program primarily for individuals aged 65 or older, but it is also available to some younger people with disabilities and those with End-Stage Renal Disease. In Virginia, as in all states, eligibility is based not on residency but on work history and certain health criteria. Medicare consists of several parts: Part A covers hospital and inpatient services, Part B covers outpatient and medical services, Part C (Medicare Advantage) offers an alternative to Original Medicare with additional benefits and Part D provides prescription drug coverage. There are also Medicare Supplement (Medigap) plans that help cover costs not included in Original Medicare.
You can explore the best Medicare Advantage plans in Virginia and the best Medicare Supplement plans in Virginia for additional coverage options tailored to individual needs.
You may have questions about cost and availability when looking for health insurance. MoneyGeek responded to frequently asked questions about cheap private health insurance in Virginia to help you learn more.
The cheapest Silver plan in Virginia for this year is provided by Aetna Health Inc., called Silver 5: HMO Aetna Network of Doctors & Hospitals, at a monthly cost of $367. The cheapest Gold plan in Virginia is Innovation Health - Aetna Gold 3: HMO by Innovation Health Plan, Inc., with a monthly cost of $362.
Although you'll pay a lower monthly premium for a cheap health insurance plan, you may pay higher out-of-pocket costs when accessing health care services. More expensive plans cover more comprehensive services and considerably lower your out-of-pocket maximums.
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.
