Best Cheap Health Insurance in Arkansas (2024)

Ambetter's Standard Silver plan is the best cheap health insurance plan in Arkansas, with rates as low as $424 per month.

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No matter where you live in Arkansas, Ambetter has the cheapest Silver plan. Silver plans are the best option for those with average medical needs. Only three health insurance companies sell individual health insurance plans in Arkansas. In addition to Ambetter, Health Advantage and Arkansas Blue Cross and Blue Shield also sell health plans AR.

Health insurance costs an average of $461 per month in Arkansas for a 40-year-old with a Silver plan.

Arkansas Blue Cross and Blue Shield is the best health insurance company in Arkansas. ValuePenguin's editors give the company four out of five stars. It's also the most popular company in the state, accounting for about 63% of all active Arkansas health insurance plans.

How much does health insurance cost in Arkansas?

The average cost of health insurance in Arkansas is $461 for a 40-year-old with a Silver plan. Silver plans give you good coverage at a relatively low rate. Bronze plans are cheaper, but you'll have to pay more when you go to the doctor.

Average cost of Arkansas health insurance by plan tier

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Where you live in Arkansas, the number of people on your insurance plan, whether you smoke or use tobacco, the plan tier you buy and your age all affect how much you pay for health insurance. A 60-year-old with a Silver plan, for example, pays almost three times as much as a 21-year-old with the same coverage.


Cheapest health insurance in Arkansas

Ambetter from Arkansas Health & Wellness has the cheapest health insurance in the state for every level of coverage. The best cheap plan is the Standard Silver from Ambetter. It's as much as 8% cheaper each month compared to the state average for a Silver plan.

Tier
Cheapest plan
Monthly cost
Bronze Ambetter Expanded Bronze $381
Silver Ambetter Standard Silver $424
Gold Ambetter Everyday Gold $509

Monthly costs are for a 40-year-old.

Just because a company is the cheapest on average doesn't mean it will be the cheapest for you. All three health insurance companies in AR are available throughout the state. As you shop for health insurance, it's a good idea to compare your options to make sure you get the best deal.


Finding your best health insurance coverage in Arkansas

The best health insurance for you depends on your medical needs and budget. Higher tier health plans, like Gold, have more expensive monthly premiums but let you pay less when you go to the doctor. That's because they usually come with lower out-of-pocket expenses, like deductibles, copays and coinsurance. Bronze plans are the opposite. They cost less each month, but you'll pay more when you need medical care.

Gold plans: Best if you have frequent or complex medical needs

Gold plans have the highest level of coverage in Arkansas, which means they cost the most per month. But if you go to the doctor often, have a chronic or severe health issue or have high medical costs in general, it's usually worth it to pay more for a Gold plan.

A Gold plan costs an average of $557 per month in Arkansas. The most you'll pay for your medical care with a Gold plan ranges from $5,500 to $8,700 per year. Gold plans have the lowest out-of-pocket maximum limits in Arkansas, which makes them a good choice for keeping your medical costs in check.

Silver plans: Best if you have average medical needs

For most people, a Silver plan is the best option. These plans balance good coverage and good rates. A Silver plan in Arkansas costs 17% less each month than a Gold plan, but you'll still have good coverage. The maximum out-of-pocket limit ranges from $6,200 to $9,450 per year for Silver plans in Arkansas.

But Silver plans are the only plans eligible for subsidies that can lower what you pay for health care. These are called cost-sharing reductions. Eligibility is based on income. The less you make, the bigger the subsidy you could get and the lower your out-of-pocket costs for medical care could be.

Bronze plans: Best if you have low medical needs

If you're young and healthy, a Bronze plan can be a good choice. These plans have the lowest monthly rates. But because you have to pay more when you go to the doctor, it's important that you have emergency savings just in case you have a severe illness or injury. You'll likely have a higher health insurance deductible and out-of-pocket maximum than with a Silver or Gold plan, as well as higher coinsurance and copays.

Medicaid: Best if you have a low income

If you have a low income, Medicaid could be the best health insurance in Arkansas. To qualify, you have to make less than around $20,000 as an individual or $34,000 as a family of three. If you're pregnant or under age 19, you can make more and still qualify. If you are eligible for Medicaid, most of your health insurance costs will be reduced or eliminated.


Are health insurance rates going up in Arkansas?

Health insurance rates in Arkansas have stayed steady over the last several years, even though inflation has risen and medical costs are higher. Silver plans only increased in price by about 1% between 2023 and 2024. And Gold plans decreased by 1% during that time.

Tier
2022
2023
2024
Change (2023 vs. 2024)
Bronze$319$402$4143%
Silver$419$456$4611%
Gold$550$570$557-2%

Monthly costs are for a 40-year-old.


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Best cheap health insurance companies in Arkansas

Currently, only three health insurance companies sell individual and family health insurance on HealthCare.gov. Although it doesn't have the lowest rates, Arkansas BCBS is the best health insurance company in Arkansas. Arkansas BCBS has the highest rating from HealthCare.gov in Arkansas and the highest rating from our experts.

Best health insurance companies in Arkansas

Company
Cost
BlueCross BlueShield  logo
Arkansas BCBS
$497
Ambetter logo
Ambetter
$449
Health Advantage (BCBS) logo
Health AdvantageNot yet rated$463

Average monthly cost for a 40-year-old buying a Silver plan in AR. Ratings are based on editor reviews of the company.


Cheapest health insurance plan by Arkansas county

The Ambetter Standard Silver plan is the cheapest Silver plan, on average, in all 75 counties in Arkansas. It's still a good idea to compare all the options where you live, though. While the Standard Silver plan from Ambetter is the cheapest on average, it may not be the cheapest for you.

County
Cheapest plan
Monthly rates
ArkansasAmbetter Standard Silver$424
AshleyAmbetter Standard Silver$424
BaxterAmbetter Standard Silver$424
BentonAmbetter Standard Silver$424
BooneAmbetter Standard Silver$424
Show All Rows

Cheapest Silver plan with rates for a 40-year-old


Average cost of health insurance by family size in Arkansas

In Arkansas, the average cost of a Silver health insurance policy for a family of three is $1,200 per month. Each child you add to your plan costs an average of $276 per month.

The ages of the people on your plan also affect how much you pay each month. For children under age 15, the monthly health insurance premium remains flat. However, once a child turns 15 years old, their monthly rate will increase each year.

Family size
Average cost
Individual + child$738
Couple, age 40$923
Family of three (adult couple and a child)$1,199
Family of four (adult couple and two children)$1,475
Family of five (adult couple and three children)$1,751

Short-term health insurance in Arkansas

If you only need health insurance for a short period of time, like if you're between jobs, you could buy a short-term health insurance plan in AR. The state limits these plans to a length of 364 days. And you can only renew the policy twice, for a total length of three years.

Short-term health insurance can be a good idea if you need coverage for a short time, but you should be aware of what the plan covers. Short-term plans aren't required to cover the same level of medical care as plans from HealthCare.gov. For example, most plans don't cover maternity care. Before you buy short-term health insurance in Arkansas, make sure you understand the coverage.


Frequently asked questions

What is the best health insurance in Arkansas?

Arkansas Blue Cross Blue Shield has the highest rating on HealthCare.gov for Arkansas health insurance companies. Blue Cross Blue Shield typically has good customer satisfaction and good plan quality.

What is the cheapest health insurance in Arkansas?

The cheapest Silver plan in Arkansas is the Ambetter Standard Silver, which costs as little as $424 per month for a 40-year-old. Silver plans give you more coverage than Bronze plans, but they also cost more each month. Bronze plans can be a good option if you are on a budget, but make sure you have good emergency savings in case you need expensive medical treatment.

How much does Obamacare cost in Arkansas?

Obamacare costs an average of $461 per month in Arkansas for a 40-year-old with a Silver plan. Rates vary based on your age, family size, tobacco use, location and the level of coverage you buy. You can buy Obamacare plans, also called Affordable Care Act plans, on HealthCare.gov.


Methodology

Arkansas health insurance plans, premiums, deductibles and out-of-pocket maximums for 2024 were found on the Centers for Medicare & Medicaid Services (CMS) government website. Using the public data, ValuePenguin compiled information for a variety of metrics such as age, plan tier, family size and county. Plans and providers for which county-level data was included in the CMS Crosswalk file were used in our analysis; those excluded from this data set may not appear.

Editorial note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.