Main menu


Best Cheap Health Insurance in New York 2021

Best Cheap Health Insurance in New York 2021

Best Cheap Health Insurance in New York 2021

New Yorkers can purchase affordable health insurance through the state or Medicaid marketplace if their household income falls below 138% of the federal poverty level.

The average cost of health insurance in New York is $ 701, which is about 1% more expensive than in 2020.

To help you find the best coverage, we looked at the Silver health insurance policies available in all counties and found that Fidelis Care, Silver, was the most affordable plan available. However, there are many insurance companies that offer health plans in New York and will determine where you live and what policies are available.

The cheapest metallic health insurance

To help you shop around and choose the best policy, we've identified the most affordable health insurance plans available in New York State. Health insurance is offered at five different tiers in New York: catastrophic, bronze, silver, gold, and platinum.

When the level increases, the monthly fee becomes more expensive. Also, as the tier level increases, the maximum deduction and out-of-pocket costs decrease.

In addition, the price will vary according to the number of people included. When you add an adult or dependents to a policy, the monthly premium goes up. The plans below may not be available in your county, but they can help you compare costs at this level.

Find the best health insurance coverage in New York

The best health insurance and policy for your family will depend on the availability of plans in your area, as well as your medical and financial situation. When deciding on the right type of plan, you need to determine affordability by reviewing the premiums and discounts for each layer of metal. Generally speaking, if you have an emergency savings account and don't expect to have major health or medical expenses, a lower metal level plan with more affordable premiums will make more financial sense.

Gold and Platinum Plans - Best if You Expect High Medical Costs

The Gold and Platinum plans are the two highest health insurance policies available in New York. These plans typically have more expensive monthly fees, but come with lower discounts and out-of-pocket limits.

For this reason, the Gold and Platinum plans may be the most cost-effective for people with higher medical costs, as you will hit the discount quickly and can then qualify for coinsurance.

For example, if you frequently use expensive prescription drugs, a higher tier health plan may be the right choice.

Silver Plans: Best for People with Low Income or Average Medical Costs

Silver plans are mid-range policies that fall between Gold and Bronze plans in terms of insurance premiums and personal expenses. We recommend the Silver plan in most cases, but if you are very healthy, then the Bronze level may be the most profitable.

On the other hand, if you expect a lot of medical expenses, the Gold Plan may better meet your needs.

Silver plans qualify for cost-sharing reduction (CSR) benefits in New York if your income falls below 250% of the federal poverty level. If this applies to you, you can get discounts on discounts, coinsurance, and copayments.

Bronze and Disaster Plans: Best for Young, Healthy People

The Bronze and Catastrophic tiers have the lowest premiums available in the New York market, but also the highest discounts and cost sharing. These mineral coating plans should only be considered if you are in good health and do not expect to incur high medical costs.

Bronze plans are available to all consumers, but disastrous policies have eligibility requirements. These plans are only available to people under the age of 30 or those with Hardship Relief. 

An overview of New York's individual health insurance plans

You can buy New York health insurance through the New York State Health Marketplace. New York health insurance is one of the most regulated in the United States. While the Affordable Care Act limits the price of policies by insurers, New York regulations are more restrictive.

For both individual and small business plans, all consumers who live in a particular location pay the same price as health insurance. This means that younger New Yorkers pay more for health coverage than in other states, while older residents pay less than in other states.

Open enrollment begins in New York on November 1 and runs through January 31.

If you're a first-time buyer, you can purchase a health insurance plan as soon as registration opens, while people who renew can do so starting November 16. If you purchased a health plan before December 15, your event coverage will begin on January 1. The New York Exchange Portal also lists brokers who can provide guidance and help you enroll in a health plan.

New York Health Insurance Companies

There are currently 18 insurance companies selling individual plans in the New York health insurance market:

  • MVP Health Care
  • Fidelis Care
  • HealthPlus
  • BlueShield of Northeastern New York
  • EmblemHealth
  • Empire Blue Cross Blue Shield
  • Univera Healthcare
  • Independent Health
  • BlueCross BlueShield of Western New York
  • MetroPlus Health Plan
  • Healthplus
  • Oscar
  • Health First
  • United Healthcare
  • Empire Blue Cross
  • Univera HealthCare
  • Excellus

Some of these insurance companies may not be available depending on where you live. The availability of insurance companies and health plans varies by county, so your location will directly affect your coverage options.