Best Affordable Health Insurance Plans Of 2024 (2024)

Kaiser Permanente is the best affordable health insurance company on the Affordable Care Act (ACA) marketplace.

The ACA marketplace at HealthCare.gov lets you compare health plan options, including information about costs, deductibles and coinsurance. It’s a great way to find health insurance if you can’t get coverage through work.

We compared health plans that offer ACA coverage to find the best and most affordable health insurance plan.

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• Summary: The Best Affordable Health Insurance Companies
• Best Affordable Health Insurance Companies
• How Can I Get Affordable Health Insurance?
• How Much Does Health Insurance Cost?
• What to Consider When Searching for Affordable Health Insurance
• Methodology
• Other Health Insurance Companies We Rated
• Affordable Health Insurance Frequently Asked Questions (FAQs)

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

Our expert take	Company	Company - Logo	Forbes Advisor Rating	Forbes Advisor rating	Learn More	Learn more CTA below text	LEARN MORE
Cheapest Health Insurance Company	Kaiser Permanente		5.0		See Plans	On Healthcare.com's Website
Best Provider Network	Blue Cross Blue Shield		5.0		See Plans	On Healthcare.com's Website
Best for Customer Satisfaction	UnitedHealthcare		4.6		See Plans	On Healthcare.com's Website

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

There are multiple avenues to finding cheap health insurance.

	Work Most pre-retirement Americans who have health insurance get group health insurance through an employer.
	Affordable Care Act Marketplace You may find affordable health insurance costs through the Affordable Care Act (ACA) marketplace at HealthCare.gov, especially if you qualify for subsidies.
	A Parent or Spouse Employers often let employees add spouses and dependent children to health plans, which can be cheaper than buying separate coverage.
	Medicaid A federal/state program for low-income people, Medicaid offers the same benefits and coverage found in a private health insurance plan but at a lower cost. If you qualify, Medicaid bases costs on your household income. Medicaid premiums can be as low as zero, depending on your income.
	Short-Term Health Insurance Most states allow short-term health insurance plans, which are low-cost but also have limited coverage. For instance, these plans often don’t cover prescriptions, mental health, maternity care or pre-existing conditions.

A bronze health insurance plan on the Affordable Care Act marketplace costs an average of $373 monthly for a 30-year-old.

• A 40-year-old pays an average of $420 monthly for the same coverage.
• A 50-year-old pays $587 monthly.
• A 60-year-old pays $890 monthly.

Bronze plans have 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.

None of these averages factor in subsidies or tax credits, which will lower your overall cost. ACA plans are the only ones that have those tax credits, which can reduce your costs. People with household incomes below 400% of the federal poverty level qualify for subsidies on ACA plans.

Average Cost of Health Insurance by Age

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

Health insurance costs in the ACA marketplace vary based on multiple factors, including:

• The health insurance company.
• The metal tier.
• The type of health plan.
• Your age.
• The out-of-pocket costs, including deductibles and coinsurance.
• Your smoking status.

Average Monthly Health Insurance Costs by Tier

When looking for a cheap health insurance plan, consider your family’s current and near-future healthcare needs. 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 should 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.

	Premiums A health insurance premium is what you pay to have insurance. Premiums are a major cost driver for health insurance.
	Deductibles A deductible influences how much you pay for a health insurance premium and decides how much you pay when you need care. You must pay your health insurance deductible before a health insurer begins paying for healthcare services.
	Coinsurance A higher coinsurance means you pay more for healthcare when you need it. The percentage of healthcare costs that you pay when you need care after reaching your deductible.
	Metal Tiers ACA plans are grouped into four “metal” categories: bronze, silver, gold or platinum health insurance, which are separated based on premiums and out-of-pocket costs. Bronze and silver plans have lower premiums but higher out-of-pocket costs when you need care. Gold and platinum have higher premiums but lower out-of-pocket costs.
	Premium Tax Credits ACA plans are the only ones with premium tax credits based on your household income. Depending on your income, you may save hundreds on your ACA plan each year.
	Provider Network Health plans typically have provider networks, which are doctors and healthcare professionals who have contracts with your health insurer. Staying in a plan’s network is generally cheaper than getting out-of-network care.
	Out-of-Pocket Maximum This amount is the most you could pay for healthcare services in a year. Your deductible, copays and coinsurance for in-network services count toward this maximum. Your health insurance plan covers 100% of your in-network costs for the year once you reach our out-of-pocket max.

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 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. Source: HealthCare.gov.
• 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. Source: HealthCare.gov.
• 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. Source: HealthCare.gov.

Read more: How Forbes Advisor rates health insurance companies

Here are other health insurance companies we analyzed as part of our research.

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