Best Affordable Health Insurance Plans Of 2024

• Kaiser Permanente – Cheapest Health Insurance Company
• Blue Cross Blue Shield – Best Provider Network
• UnitedHealthcare – Best for Customer Satisfaction

Kaiser Permanente and Blue Cross Blue Shield top our list with UnitedHealthcare also receiving high marks.

Company	Company - Logo	Forbes Advisor Rating	Forbes Advisor rating	Average monthly bronze plan cost for a 40-year-old	Average bronze plan deductible	Learn More CTA text	Learn more CTA below text	LEARN MORE
Kaiser Permanente		5.0		$351	$6,700	Learn More	On Healthcare Marketplace's Website
Blue Cross Blue Shield		5.0		$458	$7,173	Learn More	On Healthcare Marketplace's Website
UnitedHealthcare		4.5		$427	$8,177	Learn More	On Healthcare Marketplace's Website

Source: Healthcare.gov. Based on unsubsidized ACA plans. Average costs can vary significantly depending on your state and age.

A bronze health insurance plan costs an average of $373 monthly for a 30-year-old. A 40-year-old pays $420 monthly on average for the same coverage, a 50-year-old pays $587 monthly and a 60-year-old pays $890 monthly for bronze coverage.

A bronze plan has the lowest health insurance premiums on the ACA marketplace. Silver plans have the next lowest premiums. A silver health insurance plan costs an average of $488 monthly for a 30-year-old, $549 for a 40-year-old, $767 for a 50-year-old and $1,164 for a 60-year-old.

All of those averages don’t include subsidies or tax credits. ACA plans are the only types that qualify for subsidies based on your household income. People with household incomes below 400% of the federal poverty level qualify for the subsidies that can receive your health insurance costs.

Average Cost of Health Insurance by Age

Age plays an important role in how much you pay for ACA marketplace coverage.

Age of member	Average monthly overall cost	Blue Cross Blue Shield monthly cost	Kaiser Permanente monthly cost	UnitedHealthcare monthly cost
Age 21	$397	$444	$348	$396
Age 27	$419	$468	$365	$415
Age 30	$453	$506	$396	$450
Age 40	$509	$569	$445	$506
Age 50	$712	$795	$622	$708
Age 60	$1,079	$1,206	$946	$1,076

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Source: Healthcare.gov. Based on unsubsidized ACA plans.

The most affordable health insurance is generally through a plan that you buy at work. Most pre-retirement Americans who have health insurance get group health insurance through an employer.

If a workplace health plan isn’t an option, you may find affordable health insurance costs through the Affordable Care Act (ACA) marketplace, especially if you qualify for subsidies.

Another option for cheaper health insurance is catastrophic health insurance. You can purchase catastrophic coverage through the ACA marketplace, but they’re only available to people under 30 or those going through severe financial hardship, such as homelessness.

Catastrophic health plans offer the same comprehensive coverage found in standard ACA plans. Two major differences between catastrophic plans and standard plans are eligibility and catastrophic health insurance doesn’t have coinsurance. Coinsurance is the percentage you pay for healthcare services after reaching your annual deductible and before meeting your out-of-pocket maximum.

Catastrophic plans only have a deductible and out-of-pocket maximum, which is the same amount. That means you pay up to your deductible and then the health insurance company picks up the rest of the out-of-pocket costs for the year if you have catastrophic health insurance.

Average Monthly Health Insurance Costs by Tier

Tier	Average monthly cost
Catastrophic	$260
Bronze	$345
Silver	$452
Gold	$585

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Average costs for a 27-year-old. Source: Healthcare.gov. Based on unsubsidized ACA plans.

Consider your family’s current and near future healthcare needs when looking for an affordable health insurance plan. Are you planning to start a new family? Are you on many prescription medications? Do you expect you’ll need to get that trick knee fixed in the coming year?

All of those factors should be taken into account so you can decide whether or not you can choose a plan with a high deductible. A high-deductible health plan (HDHP) typically has lower premiums, but you pay more out-of-pocket when you need healthcare.

Annual Costs, Premiums and Deductibles

The first thing you’ll likely notice when looking for affordable health insurance on the ACA marketplace is the monthly health insurance premium. What you pay varies by the insurance company, deductible, where you live, type of plan, how many people are covered, your age, whether you smoke and your household size and income. Review all costs—premiums, deductibles and coinsurance—of plans you’re considering.

You’ll also want to pay attention to how your health insurance deductible stacks up against your premium. A plan with lower premiums and a high deductible might be a good fit if you don’t expect to need much healthcare. But if you regularly see a doctor, a plan with higher premiums and lower out-of-pocket costs like deductibles may be the most affordable health insurance over the course of the year.

Understand Metal Tiers

In the health insurance marketplace, ACA plans are grouped into four “metal” categories: bronze, silver, gold or platinum health insurance. The metal tiers which indicate how costs are split between you and the health insurance company.

• Bronze plans: You pay the lowest premium every month, but you also have a high deductible, so when you seek care, you have higher costs because it’ll take more to reach your deductible. This metal plan is ideal if you just want coverage for worst-case scenarios. Your health insurance pays 60% of your healthcare costs and you pay the remaining 40%.
• Silver plans: This monthly premium is slightly higher than bronze plans, but your costs are lower when you seek care. Your health insurance pays 70% of your healthcare costs while you contribute 30%.
• Gold plans: If you routinely visit your physician or need care, consider a gold plan, which has a higher monthly premium but lower point-of-care costs. Your health insurance pays 80% and you pay 20%.
• Platinum plans: This plan features the highest monthly premium, so if you’re frequently in need of care, you can rest assured that most of your care will be covered with minimal point-of-care costs when you use any services.

Premium Tax Credits

You’ll want to take advantage of premium tax credits if you’re eligible. Premium tax credits can be used to make health insurance more affordable. The tax credits lower your monthly health insurance payments when you enroll in an ACA plan on the health insurance marketplace.

People with household incomes at 400% of the federal poverty level or below are eligible for premium tax credits. Silver plans may also get cost-sharing subsidies that reduce out-of-pocket costs, depending on household income.

These are two ways to get more affordable health insurance through the ACA marketplace. You’ll find out if you’re eligible after you enter your household information into the marketplace website. The marketplace will tell you whether you’re eligible for those discounts and how much you may save.

HSA vs. FSA

When looking for the most affordable health insurance plan for you, it’s important to know the difference between an FSA and an HSA. Health savings accounts (HSAs) are available only if you have a high-deductible health plan. These are health plans with an annual deductible of at least $1,600 for an individual or $3,200 for family coverage.

An HSA lets you reduce overall healthcare costs by saving pre-tax money in a health-specific savings account. With an accompanying debit card, you can then use these funds to pay for deductibles, copays, coinsurance and qualified medical expenses. An HSA cannot be used to pay monthly premiums associated with your health insurance plan.

You can keep an HSA regardless of your employment status and, after you turn 65, you can treat it like a retirement account for health costs, using the funds however you want without penalty.

Meanwhile, a flexible spending account (FSA) is a similar benefit provided alongside health insurance plans offered through your employer. You fund your FSA with pre-tax dollars from your paycheck and use a paired debit card when you want to use the funds on qualified medical expenses. One drawback to FSAs is the amount you save is unlikely to roll over from one year to the next. In other words, if you don’t use it by a certain date, you lose it.

Out-of-Network Coverage

It’s generally more affordable to see in-network providers than out-of-network providers. If you’re going out of network to see a preferred provider or visit a preferred facility, know that they don’t have a contract with your health insurance plan company and will likely cost more—sometimes even full price.

To keep costs low, either pick a plan that includes your preferred care providers in its network or choose a more forgiving and flexible plan when it comes to out-of-network coverage.

Out-of-Pocket Maximum

This amount is the most you could possibly have to pay for healthcare services in a single year. Your deductible, copays and coinsurance for any in-network services all count toward this maximum. Monthly premiums, payments for services not covered and out-of-network visit costs don’t contribute to your out-of-pocket maximum.

Once you hit your maximum, your health insurance plan kicks in to cover 100% of your costs for the remainder of that year. So if you’re trying to find the most affordable healthcare plan, pay close attention to the out-of-pocket maximum and how much it could possibly support you.

As you prepare to compare health insurance quotes to identify the best, affordable health insurance, keep the following in mind issues beyond costs:

• The type of plan: If you want the most affordable health plan benefit design, you may want to go with a health maintenance organization (HMO) or exclusive provider organization (EPO) plan. Those plans require you to stay in the plan’s provider network, but they have lower premiums than a preferred provider organization (PPO) plan. A PPO gives you more flexibility, but that comes with a higher price tag.
• Your healthcare providers: Make sure that your providers accept a health insurance plan before you buy it. Check with your providers to confirm they take that specific insurance plan and don’t rely on the health insurance company’s online provider directory, which can be incorrect or out of date.
• Your health insurance options: Getting added to another person’s health plan may cost less than buying your own health insurance. Review all of your health insurance options, including a spouse’s or parent’s health plan, before choosing a plan.

Finding an affordable health insurance plan can feel overwhelming, but there are a few ways to get expert help.

• Contact the Marketplace Call Center if you’re choosing your own individual or family plan for questions and assistance with enrollment.
• If you’re selecting a health plan through your employer, ask your human resources department if they can offer assistance.
• If HR can’t provide the help you need, ask them to direct you to an insurance agent or broker who can guide you through the process.
• You can also find a health insurance agent or broker yourself by doing an online search for your ZIP code or state.

We analyzed 84 data points about coverage and quality for seven large health insurance companies to determine the best and most affordable health insurance companies. Our ratings are based on:

• Complaints made to state insurance departments (30% of score): We used complaint data from the National Association of Insurance Commissioners.
• Plan ratings from the National Committee for Quality Assurance (30% of score): The National Committee for Quality Assurance (NCQA) is an independent, nonprofit organization that accredits health plans and produces ratings based on specific metrics, including patient experience, prevention, treatment, overall rating of the health plan and rating of care.
• Average silver plan deductible (20% of score): The deductible is how much you have to pay for healthcare in a year before the health plan begins picking up a portion of the costs. Companies with health plans that had low deductibles got more points.
• Breadth of health plans (10% of score): Health insurance companies may offer up to four types of plan benefit designs (PPO, HMO, EPO and POS). Companies that offered more types of plans got more points.
• Metal tier offerings (10% of score): The ACA marketplace has four metal tier levels. We gave points to companies that offered more tier plan options.

Read more: How Forbes Advisor rates health insurance companies

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