Health Insurance

Best Cheap Health Insurance in Delaware 2021

Best Cheap Health Insurance in Delaware 2021

Find Cheap Health Insurance Quotes in Delaware

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If you are looking to purchase health insurance in Delaware, you can find cheap individual policies on the state insurance exchange. We conducted research and found that the Health Savings Embedded Blue EPO Silver 3450 HSA is the cheapest Silver plan available across the state.

In 2021, the average cost of health insurance is $513 for a 40-year-old. This is a change of 8% per month from the price in 2020 across all metal tiers.

Select a plan tier to learn more:

Delaware has also passed the expanded version of Medicaid, which is available if your income falls below 138% of the federal poverty level. Highmark Blue Cross Blue Shield Delaware is the only insurance provider in the state, but the company does offer a variety of policies, which allows you the flexibility to choose a plan that fits your financial situation.

Cheapest health insurance by metal tier

Health insurance in Delaware is broken down into four different metal tiers: Catastrophic, Expanded Bronze, Silver and Gold. We compared all the policies available in each tier and identified a cheap health insurance option available to you. The table below provides the cheapest plan at each level of coverage, along with the deductible, out-of-pocket maximum and monthly cost for a 40-year-old.

Metal tier
Cheapest plan
Deductible
Maximum out of pocket
Monthly cost for a 40-year-old
CatastrophicMajor Events Blue EPO 8550 - 3 Free PCP Visits$8,550$5,000$303
Expanded BronzeShared Cost Blue EPO Bronze 3800$3,400$8,500$400
SilverHealth Savings Embedded Blue EPO Silver 3450 HSA$3,450$6,500$522
GoldShared Cost Blue EPO Gold 0$0$7,500$517
PlatinumShared Cost Blue EPO Platinum 0$0$5,000$665

A policyholder's age will affect the premium the most when trying to purchase a health policy. As you can see in the graph below, for all metal tiers, the average cost of a health plan increases significantly with age. For example, a Gold health insurance plan is 26% more affordable on average for a 21-year-old when compared to a 40-year-old, whereas 60-year-olds would pay 112% higher premiums than 40-year-olds.

Cheapest health insurance companies in Delaware

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Finding the best health insurance coverage in Delaware

Costs are not the only aspects of health insurance policies that you should consider. Cost sharing, such as deductibles and out-of-pocket maximums, are also just as important to evaluate before purchasing a health plan.

In Delaware, the best health insurance coverage tier will primarily depend on your level of income and expected medical costs. Households and families with higher medical costs should lean toward policies with lower deductibles, while healthier individuals should opt for cheaper plans.

Catastrophic and Expanded Bronze plans: Best for healthy individuals

Bronze and Catastrophic plans are the cheapest health policies offered on the Delaware exchange. But these plans have large deductibles and out-of-pocket maximums, which can be expensive if you have to use medical services throughout the year.

For this reason, we only recommend Expanded Bronze and Catastrophic plans if you are very healthy and do not need routine medical care. Catastrophic plans are also only available if you are under the age of 30 or have received a hardship exemption.

The cheapest Catastrophic plan in Delaware is Major Events Blue EPO 8550 - 3 Free PCP Visits. The cheapest Expanded Bronze plan is Shared Cost Blue EPO Bronze 3800. Compare all tiers in Delaware above.

Silver plans: Average premiums and deductibles

Silver metal tier health plans are good policies for beginning your health insurance search because of their modest premiums and deductibles. These are the plans that other exchange health policies are benchmarked off of and are a middle ground between Bronze and Gold policies.

Silver plans are the only health insurance policies in Delaware that are eligible for cost-sharing reductions, making them a good option for low-income households. These reductions further decrease the amount of the copays, coinsurance and deductibles but are only available if your household income falls below 250% of the federal poverty level.

The cheapest Silver plan in Delaware is Health Savings Embedded Blue EPO Silver 3450 HSA. Compare all tiers in Delaware above.

Gold and Platinum plans: High premiums but smaller deductibles

Gold health insurance plans have the highest premiums across all the metal tiers but are great policies if you expect to have large or frequent medical expenses. This is due to a low deductible, which allows for cost-sharing between you and the health insurance provider. For example, the Shared Cost Blue EPO Gold 0 plan has a deductible of $0, while the Shared Cost Blue EPO Bronze 3800 Expanded Bronze plan has a deductible of $3,400. The lower deductible is met faster for Gold plans, which allows access to the cost-sharing benefits more quickly.

The cheapest Gold plan in Delaware is Shared Cost Blue EPO Gold 0. The cheapest Platinum plan is Shared Cost Blue EPO Platinum 0. Compare all tiers in Delaware above.

Health insurance rate changes in Delaware

Health insurance in Delaware is regulated through the federal health insurance exchange. Annually, insurance providers will adjust their plans' premiums, deductibles and out-of-pocket maximums, which are then approved for the following plan year.

For 2021, health insurance premiums for all metal tiers in Delaware were stationary when compared to 2020. The largest decline in costs happened for Gold plans, though these policies are only 3% more expensive in 2021 than the year before.

Metal tier
2020 monthly cost
2021 monthly cost
% change
Catastrophic$302$3030%
Expanded Bronze$390$4003%
Silver$535$5401%
Gold$541$529-2%
Platinum$674$665-1%

Rates are for a 40-year-old adult.

Best cheap health insurance companies in Delaware

Highmark BCBSD Inc. is the only health insurance company on the Delaware state exchange. This does decrease the number of options for residents, but Highmark BCBSD Inc. offers multiple policies within some metal tiers. For instance, it offers two Silver metal tier health plans, each with different deductibles and out-of-pocket maximums: the Shared Cost Blue EPO Silver 2900 and Health Savings Embedded Blue EPO Silver 3950 HSA. These options provide some flexibility for you when searching for health insurance.

Cheapest health insurance plan by county

The cheapest Silver health insurance policy in Kent, New Castle and Sussex counties is the Health Savings Embedded Blue EPO Silver 3450 HSA plan. To help you find the best health insurance for your financial situation, we have listed all Silver policies in Delaware, along with their average cost for a 30-year-old and cost-sharing features. We recommend using the table below to compare the Silver health plans available and determine the appropriate coverage as compared to monthly rates.

Average cost of health insurance by family size in Delaware

Health insurance costs are very dependent on the number of people insured under the policy, as well as their ages.

For example, a standard adult costs $540, while the cost of a child increases the typical policy by $326 per month. By extension, the cost of a three-person family is $1,417, and that of a four-person family is $1,744 per month.

Family size
Average monthly cost of health plan
Individual + child$1,089
Couple, age 40$1,091
Family of three (adult couple and a child)$1,417
Family of four (adult couple and two children)$1,744
Family of five (adult couple and three children)$2,070

Adults are assumed to be 40 years old. Sample rates are based on the average cost for a Silver plan in Delaware.

Methodology

Health insurance rates and plans in Delaware were downloaded from the Centers for Medicare and Medicaid Services government website. Using the premiums for each policy, ValuePenguin calculated average values for a variety of factors, including metal tier, family size and county.

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.