When buying affordable health insurance, you can either look for low out-of-pocket maximums or low premiums. You usually can’t get both unless you’re shopping for low-income health plans.

If you’re healthy and don’t anticipate a lot of care, a plan belonging to a lower metal tier (such as Catastrophic or Bronze) may be the cheapest option. But if you expect to need much care, consider purchasing a plan with higher premiums but low maximum out-of-pocket (MOOP) costs.

MoneyGeek found the cheapest health insurance companies based on metal tiers, location and other factors. For our top picks, we defined “cheapest” by monthly premiums unless otherwise stated.

MoneyGeek Logo IconCheapest HealthInsurance
2023

Cheapest Health Insurance by Metal Level

Our study analyzed providers offering plans on the federal marketplace, which houses most state-specific health insurance platforms. We found that the cheapest health insurance companies across all metal levels are, on average:

  • Oscar: $470 per month
  • Ambetter: $490 per month
  • Cigna: $516 per month

Note that the cheapest is based on the average across metal levels of companies available in at least six states.

Of the providers that are limited to fewer than six states, the least expensive are:

  • Ascension Care: $404 per month
  • Kaiser Permanente: $435 per month
  • Friday Health Plans: $455 per month

Cheap is often relative to the consumer. While these companies offer affordable plans with low monthly premiums, they often have high out-of-pocket maximums. If you anticipate needing much care, buying a plan in a higher metal level may make more sense. You may have higher premiums, but the tradeoff is lower MOOP costs.

The premiums shown above represent the average cost for a plan paid per month. Your actual rate may vary depending on your income, metal tier and location.

Cheapest Health Insurance Across Metal Levels
Company
Metal Tier
Monthly Cost
Maximum Out-of-Pocket

Oscar

Catastrophic

$210

$9,100

Oscar

Catastrophic

$236

$9,100

Oscar

Bronze

$264

$9,064

Aetna

Expanded Bronze

$270

$9,017

Oscar

Catastrophic

$294

$9,100

Oscar

Bronze

$296

$9,064

Aetna

Expanded Bronze

$302

$9,017

Molina

Silver

$344

$9,035

Molina

Gold

$355

$8,967

Oscar

Bronze

$369

$9,064

Aetna

Expanded Bronze

$377

$9,017

Aetna

Silver

$401

$8,750

Oscar

Catastrophic

$411

$9,100

Ambetter

Gold

$423

$7,512

Aetna

Silver

$501

$8,750

Oscar

Bronze

$516

$9,064

Aetna

Expanded Bronze

$527

$9,017

Ambetter

Gold

$528

$7,512

Oscar

Catastrophic

$625

$9,100

Blue Cross Blue Shield

Platinum

$636

$3,065

Aetna

Silver

$700

$8,750

Blue Cross Blue Shield

Platinum

$713

$3,065

Ambetter

Gold

$738

$7,512

Oscar

Bronze

$784

$9,064

Aetna

Expanded Bronze

$801

$9,017

Blue Cross Blue Shield

Platinum

$890

$3,065

Aetna

Silver

$1,064

$8,750

Ambetter

Gold

$1,122

$7,512

Blue Cross Blue Shield

Platinum

$1,244

$3,065

Blue Cross Blue Shield

Platinum

$1,891

$3,065

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WHAT IS THE DIFFERENCE BETWEEN METAL TIERS?

Metal tiers are groupings of plans in the Health Insurance Marketplace. The more valuable the metal is, the more the plan tends to cost in premiums. Silver plans provide balance and the opportunity to lower your deductibles if you have limited income.

  • Platinum: Although platinum plans have the highest premiums, expect to pay only 10% of health care costs, while insurance covers 90%.
  • Gold: You pay 20% of health care costs, while insurance covers 80%.
  • Silver: You pay 30% of health care costs, while insurance covers 70%.
  • Bronze: Bronze plans may have the cheapest premiums, but you take on 40% of health care costs, while insurance covers 60%.

Companies With the Cheapest Silver Health Insurance

Aetna is the most affordable health insurance company for Silver plans, with an average premium of $499 per month. The top three cheapest options for this metal tier are:

  • Aetna: $499 per month
  • Ambetter: $505 per month
  • Oscar: $512 per month

Make sure to do your due diligence and find out if these providers have poor reviews, smaller networks or limited geographic availability before purchasing a health plan.

Companies With the Cheapest Silver Health Plans
Company
Monthly Cost
Maximum Out-of-Pocket

Molina

$344

$9,035

Aetna

$358

$8,750

Ambetter

$358

$7,655

Oscar

$366

$8,821

Cigna

$368

$8,985

United Healthcare

$388

$9,068

Aetna

$401

$8,750

Ambetter

$405

$7,655

CareSource

$410

$8,235

Oscar

$411

$8,821

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MONEYGEEK EXPERT TIP

The best health insurance should meet your specific needs in terms of cost, provider flexibility or coverage. To make your choice easier, plans are categorized into metal tiers and types (PPO, HMO, etc.). Silver plans are usually popular because they offer a middle-of-the-road cost structure and a robust network.

Cheapest Bronze Health Insurance Providers

If you’re looking for cheaper premiums than Silver plans offer, Bronze is a lower-cost option. The most affordable health insurance providers for Bronze plans are:

  • Oscar: $369 per month
  • Ambetter: $388 per month
  • Medica: $414 per month

Bronze plans offer the lowest monthly premium outside of Catastrophic plans, which come with restrictions. The tradeoff with lower-cost Bronze premiums is higher out-of-pocket costs. Thus, this metal tier is preferable for those who don’t often need medical attention.

Cheapest Bronze Health Insurance Providers
Company
Monthly Cost
Maximum Out-of-Pocket

Oscar

$264

$9,064

Ambetter

$273

$8,708

United Healthcare

$292

$9,100

Oscar

$296

$9,064

Medica

$296

$9,091

Blue Cross Blue Shield

$301

$9,096

CareSource

$302

$9,100

Cigna

$304

$9,005

Ambetter

$311

$8,708

Medica

$332

$9,091

A Bronze plan may be ideal if you can afford routine care services but want coverage for serious illnesses or injuries. However, if you need a little more than Bronze offers but don’t necessarily want to jump to the Silver tier, Expanded Bronze is an option worth considering.

Cheapest Expanded Bronze Health Insurance Providers
Company
Monthly Cost
Maximum Out-of-Pocket

Aetna

$270

$9,017

Molina

$296

$8,775

Oscar

$298

$9,057

United Healthcare

$300

$9,058

Aetna

$302

$9,017

CareSource

$310

$9,100

Ambetter

$312

$8,745

Cigna

$313

$9,073

Blue Cross Blue Shield

$323

$9,023

Medica

$325

$9,065

healthInsurance icon
BRONZE PLANS VS. EXTENDED BRONZE PLANS

Compared with Bronze, Expanded Bronze has higher actuarial values, ranging between 62% and 65%, meaning Expanded Bronze plans cover more health care costs. They also cover at least one major service before the deductible is met.

According to our analysis, the cheapest health insurance providers for Expanded Bronze plans are:

  • Aetna: $377 per month
  • Oscar: $417 per month
  • CareSource: $434 per month

Providers are not required to offer Expanded Bronze plans, so ensure this option is available when shopping for health insurance.

Cheapest Health Insurance by State

The costs and coverage of health insurance vary greatly between states and by income. The least expensive states for health insurance based on average costs across all plans are:

  • New Hampshire: Anthem Silver Pathway X Enhanced HMO 5800/40% Standard ($317 per month)
  • Michigan: Ascension Personalized Care Low Premium Silver ($330 per month)
  • Virginia: Innovation Health - Aetna Silver S ($343 per month)

The premiums shown above are just averages. Your actual rate may differ based on various individual factors.

Cheapest Health Insurance by State
State
Company
Plan
Monthly Cost
Maximum Out-of-Pocket

AK

Moda Assurance Company

Moda Pioneer Alaska Standard Silver

$527

$8,900

AK

Moda Assurance Company

Moda Pioneer Alaska Standard Silver

$592

$8,900

AK

Moda Assurance Company

Moda Pioneer Alaska Standard Silver

$739

$8,900

AK

Moda Assurance Company

Moda Pioneer Alaska Standard Silver

$1,032

$8,900

AK

Moda Assurance Company

Moda Pioneer Alaska Standard Silver

$1,568

$8,900

AL

Blue Cross Blue Shield

Blue Saver Silver EPO

$268

$8,650

AL

Blue Cross Blue Shield

Blue Secure Silver for Business

$302

$8,550

AL

Blue Cross Blue Shield

Blue Secure Silver for Business

$377

$8,550

AL

Blue Cross Blue Shield

Blue Secure Silver for Business

$527

$8,550

AL

Blue Cross Blue Shield

Blue Secure Silver for Business

$801

$8,550

AR

Ambetter

CMS Standard Silver

$294

$8,900

AR

Ambetter

CMS Standard Silver

$329

$8,900

AR

Ambetter

CMS Standard Silver

$411

$8,900

AR

Ambetter

CMS Standard Silver

$575

$8,900

AR

Ambetter

CMS Standard Silver

$873

$8,900

AZ

Health Net

Clear SELECT Silver with Select Providers

$258

$5,400

AZ

Health Net

Clear SELECT Silver with Select Providers

$290

$5,400

AZ

Health Net

Clear SELECT Silver with Select Providers

$361

$5,400

AZ

Health Net

Clear SELECT Silver with Select Providers

$505

$5,400

AZ

Health Net

Clear SELECT Silver with Select Providers

$767

$5,400

DE

Aetna

Silver S: Aetna network of doctors & hospitals + $0 MinuteClinic + $0 Telehealth 24/7

$387

$8,900

DE

Aetna

Silver S: Aetna network of doctors & hospitals + $0 MinuteClinic + $0 Telehealth 24/7

$434

$8,900

DE

Aetna

Silver S: Aetna network of doctors & hospitals + $0 MinuteClinic + $0 Telehealth 24/7

$542

$8,900

DE

Aetna

Silver S: Aetna network of doctors & hospitals + $0 MinuteClinic + $0 Telehealth 24/7

$757

$8,900

DE

Aetna

Silver S: Aetna network of doctors & hospitals + $0 MinuteClinic + $0 Telehealth 24/7

$1,151

$8,900

FL

Health First - AdventHealth

Silver Value 1815

$327

$8,700

FL

Health First - AdventHealth

Silver Value 1815

$367

$8,700

FL

Health First - AdventHealth

Silver Value 1815

$457

$8,700

FL

Health First - AdventHealth

Silver Value 1815

$639

$8,700

FL

Health First - AdventHealth

Silver Value 1815

$971

$8,700

GA

Friday Health Plans of Georgia Inc

Friday Standard Silver

$270

$8,900

GA

Friday Health Plans of Georgia Inc

Friday Standard Silver

$302

$8,900

GA

Friday Health Plans of Georgia Inc

Friday Standard Silver

$377

$8,900

GA

Friday Health Plans of Georgia Inc

Friday Standard Silver

$527

$8,900

GA

Friday Health Plans of Georgia Inc

Friday Standard Silver

$801

$8,900

HI

Kaiser Permanente

KP HI Standard Silver 5800/40

$307

$8,900

HI

Kaiser Permanente

KP HI Standard Silver 5800/40

$345

$8,900

HI

Kaiser Permanente

KP HI Standard Silver 5800/40

$430

$8,900

HI

Kaiser Permanente

KP HI Standard Silver 5800/40

$601

$8,900

HI

Kaiser Permanente

KP HI Standard Silver 5800/40

$913

$8,900

IA

Blue Cross Blue Shield

Wellmark Silver Primary Care | UnityPoint Health

$323

$8,900

IA

Blue Cross Blue Shield

Wellmark Silver Primary Care | UnityPoint Health

$362

$8,900

IA

Blue Cross Blue Shield

Wellmark Silver Primary Care | UnityPoint Health

$452

$8,900

IA

Blue Cross Blue Shield

Wellmark Silver Primary Care | UnityPoint Health

$632

$8,900

IA

Blue Cross Blue Shield

Wellmark Silver Primary Care | UnityPoint Health

$960

$8,900

Cheapest Cities for Health Insurance by City

Health insurance costs vary not only by state but also by city. More specifically, health insurance options and costs vary by rating areas within the state. Some examples of the cheap health insurance rates for a 40-year-old shopping for a Silver plan can be found in the following cities:

Cheapest Health Insurance by Rate
City
Provider
Monthly Premium

Minneapolis

UCare Minnesota

$265

Flint

Ambetter from Meridian

$292

Detroit

Total Health Care USA, Inc.

$305

Albuquerque

Molina Healthcare

$313

Arlington

Kaiser Permanente

$321

Denver

Bright Health

$330

Baltimore

Kaiser Permanente

$339

San Diego

Molina Healthcare

$343

Duluth

BlueCross BlueShield Minnesotta

$346

Seattle

Kaiser WA

$358

Vineland

AmeriHealth Ins Company of NJ

$377

Houston

Blue Cross and Blue Shield of Texas

$381

Fresno

Blue Shield California

$383

Washington DC

Kaiser Permanente

$384

Battle Creek

Priority Health

$386

Milwaukee

Common Ground Healthcare Cooperative

$390

Atlanta

Kaiser Permanente

$391

San Antonio

Molina Healthcare

$391

Kalamazoo

Priority Health

$396

Dallas

Blue Cross and Blue Shield of Texas

$399

Fort Worth

Blue Cross and Blue Shield of Texas

$399

Bakersfield

Health Net

$401

Portland

Providence Health Plan

$402

Louisville

Anthem Blue Cross and Blue Shield

$406

Charleston

Molina Healthcare

$417

Memphis

Cigna Healthcare

$428

Indianapolis

CareSource

$433

San Jose

Valley Health Plan

$436

Austin

Scott and White Health Plan

$441

Philadelphia

Independence Blue Cross

$447

Raleigh

Blue Cross and Blue Shield of NC

$458

Sacramento

Blue Shield California

$461

Harrisburg

Capital BlueCross

$506

Santa Rosa

Kaiser Permanente

$510

Omaha

Medica

$543

Additional Low-Cost Health Insurance Options

If you don’t qualify for low-cost plans in the Health Insurance Marketplace, consider these cheap alternatives:

1

Medicaid for Low- to No-Cost Health Insurance

Medicaid provides low- to no-cost health insurance to qualified individuals. Medicaid eligibility is based on income and family size, which vary across states. In addition to people with limited income or resources, those who are pregnant or have a disability may also be eligible for this government-funded health insurance program.

2

Medicare Health Insurance for Those 65 and Older

Medicare is another government-funded health program that subsidizes medical expenses for certain individuals. You may qualify for Medicare if you are 65 and older or have a disability.

You can get Medicare hospital and prescription coverage through Original Medicare with Medicare Supplement plans or Medicare Advantage. For the latter, we gathered the best Medicare Advantage plans based on various factors.

3

Short-Term Health Insurance

Short-term health insurance is designed to bridge temporary gaps in your medical coverage. Because it is not Affordable Care Act-compliant, these plans don’t include essential health benefits or cover pre-existing conditions. They’re typically not recommended for those with extensive health needs or those who need care for more than a few months.

Browse through the best short-term health insurance companies based on specific circumstances.

4

Community Health Centers

Federally Qualified Health Centers (FQHCs) may save uninsured individuals or those with little to no income from visiting ERs and other expensive forms of health care. This is because FQHCs provide preventative services on a sliding fee scale based on your ability to pay.

How to Find Cheap Health Insurance

Because most providers only offer health insurance plans in certain states, your options largely depend on where you live. You can narrow down your options based on your specific needs.

If affordability is your focus, choosing a Bronze HMO may be your cheapest option. However, you may find a better balance between health care coverage and costs with either a low-income plan (if you qualify) or a subsidized Silver HMO or PPO.

Keep in mind that you can also be added to someone else’s plan, including:

Expert Advice: Finding Affordable Health Insurance

  1. What are the pros and cons of buying health insurance plans with cheaper premiums?
  2. If I’m not eligible for Medicaid or Medicare, what other options are there for cheap health insurance coverage?
  3. Can I still get quality coverage if I buy a cheap health insurance plan?
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Dr. Brian J Adams

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Jonathan Handy

Assistant Professor of Finance at Western Kentucky University

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Associate Professor of Marketing at Lynn University

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Matt Hylland

Financial Planner at Arnold & Mote Wealth Management

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Marta Podemska-Mikluch

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Joanna Short

Associate Professor of Economics at Augustana College

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Dr. Greg Page

Assistant Professor of the Practice of Health Care Management at the Phillips School of Business at High Point University

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Dr. Zhigang Feng

Associate Professor at the Department of Economics, University at Nebraska at Omaha

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Jeffrey DeSimone

Visiting Associate Professor of Economics at Tippie College of Business at the University of Iowa

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Meghan Hope

Faculty, BS in Health Studies Program at Walden University

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Practitioner in Residence at the University of New Haven

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Visiting Assistant Professor of Economics and Business at Centre College

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Senior Research Economist at Center for Retirement Research at Boston College

Dr. Stephen Willand
Dr. Stephen Willand

Adjunct Professor at the School of Business, Quinsigamond Community College

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Deborah M Mullen, PhD.

Greg Vital - Franklin Farrow Associate Professor in Healthcare Administration at the University of Tennessee

Lacey Loomer, PhD, MSPH
Lacey Loomer, PhD, MSPH

Assistant Professor of Health Care Management at the University of Minnesota Duluth

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Patricia Born

Professor at Florida State University

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Dr. Kara Grant

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J. Tim Query, Ph.D., C.P.A., A.R.M.

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Haizhen Lin

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Jeff Bolles, Ph.D.

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Jonathan Gruber

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Dr. Sherif A. Ebrahim

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Dr. Brandon Di Paolo Harrison

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Lanlan (Lacey) Chu

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Makayla Lavender, Ph.D.

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Li Zhang

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Kamal Gursahani

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Affordable Health Insurance FAQ

When looking for health insurance, it’s common to have questions about finding low-cost options. If so, you may benefit from answers to some of the most frequently asked questions about affordable health insurance.

About Mandy Sleight, Licensed Insurance Agent


Mandy Sleight, Licensed Insurance Agent headshot

Mandy Sleight is a licensed insurance agent and has worked in the industry since 2005. She has her property, casualty, life and health licenses. Mandy has worked for well-known insurance companies like State Farm and Nationwide Insurance, and most recently as the Operations Coordinator for a startup employee benefits company.

Mandy earned her Bachelor of Science degree in Business Administration and Management from the University of Baltimore and her Master of Business Administration from Southern New Hampshire University. She uses her vast knowledge of the insurance industry and personal finance combined with her writing background to create easy-to-understand and engaging content to help readers make smarter choices with their budgets and finances.


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