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Best Cheap Health Insurance in Illinois 2021

Best Cheap Health Insurance in Illinois 2021

Best Cheap Health Insurance in Illinois 2021

For Plan year 2021, the average monthly health insurance premium at all mineral levels for a 40-year-old is $ 517. This means that the cost of coverage has only changed 4% in the last year.

The cheapest Illinois health insurance for most people looking for a Silver plan is the 2021 POS 3000 Elite Silver plan from Health Alliance. This plan is the cheapest health insurance plan in 73% of Illinois counties. Alternatively, buyers can find affordable health insurance with Blue Choice Preferred Silver PPO 203.

Cheapest health insurance by metal tier

We compare the monthly premiums of all Illinois plans to determine the most affordable health insurance policy available in each metallic layer and help you get started finding the best policy for your preferred level of coverage.

The actual mix of insurance companies and health plans offered will change depending on the county you live in, so the ones listed below may not be available where you live. But we recommend using them as a starting point for evaluating the benefits and cost sharing you can expect for a given level of coverage compared to the policy rates.

The actual cost of an Illinois health insurance plan will depend on your age and the ages of the family members covered by the policy.

For example, if you are 21, your health insurance rates will be 28% cheaper, for the same coverage category, on average, than your health insurance rates at age 40. Meanwhile, 60-year-olds pay rates 112% higher than 40-year-olds.

This applies to all layers of mineral cover, although the price difference will be higher or lower depending on the level of cover chosen. For example, a 40-year-old would pay an average of $ 77 more per month than a 21-year-old for the Bronze health plan, but $ 120 more per month for the average Silver plan.

Find the best health insurance coverage in Illinois

The range of insurance companies available varies by county, so the best health insurance plan available to you in Illinois will depend on where you live and the level of coverage you have chosen. Higher mineral health plans, like gold policies, have monthly premiums that are more expensive but much lower than out-of-pocket expenses, such as deductibles, co-costs, and coinsurance.

So if you have expensive prescriptions or are concerned about unexpected costs during the year if you get sick, the higher tier mineral plan is probably your best health insurance option. On the other hand, if you have large emergency savings to cover cost sharing but have no anticipated medical costs and want to keep your monthly rates low, the lowest metal tier plan may be the cheapest.

Gold plans - best if you have high anticipated medical costs

Gold health insurance plans have the lowest variable costs, such as deductibles and co-costs, that you will need to cover before your policy pays for Medicare. However, it also comes with the most expensive monthly fees. Therefore, these health plans are best if you have high anticipated medical costs, such as ongoing prescriptions, or if you are concerned about paying out of pocket for an unexpected situation.

Silver plans: best for families with low income or medium medical costs

For families with incomes up to 138% of the federal poverty level, you may be able to get Medicaid, as Illinois has expanded coverage under the Affordable Care Act (ACA). If you don't qualify for Medicaid but have a low-income family, the Silver Plan may be the most cost-effective option for health insurance coverage, as these policies qualify for joint cost-reduction benefits.

Silver health plans are also a good compromise between Bronze and Gold plans, as they combine reasonable monthly fees with incidental costs. So, for example, if you can't afford the Illinois gold plan prices but are having trouble meeting the deductibles and copayments for a bronze plan, the Silver plan may be the best alternative.

Bronze and Disaster Plans: Better if you are healthy and have emergency savings

You cannot qualify for catastrophic health plans unless you are under the age of 30 or if you meet certain exemption requirements. You also can't use a premium tax credit to lower the cost of a catastrophic plan. On the other hand, Bronze plans are available to anyone and are eligible for premium tax credits.

These lower tier metal policies have cheap monthly health insurance premiums, but share a much higher cost. So if you need medical care during the year, you must pay more out of pocket before coverage begins.

For example, the WellFirst Bronze Value Copay 8500X Bronze plan is discounted by $ 8,550, while some Gold plans, such as Blue FocusCare Gold℠ 211, are discounted by less than $ 1,000. If you can cover the high cost of participation in an emergency and expect lower medical costs, the Bronze Plan may be your best affordable option for health insurance coverage.

Short Term Health Insurance in Illinois

In Illinois, short-term health insurance can be purchased from insurers outside of the state health insurance market. The state currently restricts the duration of short-term health insurance policies to less than six months and allows plans to renew for up to 36 months. Also, you cannot purchase a new short-term plan from the same insurance company within 60 days of the end of the last short-term policy.

It is important to note that short-term health insurance plans often do not cover the same benefits as health insurance policies in the ACA market. This does not include any coverage of key benefits and pre-existing conditions.

Best cheap health insurance companies in Illinois

There are eight health insurance companies on the Illinois State Stock Exchange, although you may not be able to choose your insurance company, depending on where you live:

  • Health Alliance
  • Blue Cross and Blue Shield of Illinois
  • MercyCare Health Plans
  • Quartz
  • Ambetter of Illinois
  • Bright Health
  • Cigna Healthcare
  • WellFirst Health

We recommend that you begin your search for the best health insurance with Health Alliance plans if they are entered in the county in which you live. This company is available in 51 Illinois counties where it has the cheapest silver health insurance plan that any insurance provider can offer.