Best Cheap Health Insurance in Indiana 2020

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Residents of Indiana can find cheap health insurance on their state exchange, but the best plan depends on your medical condition, financial situation and the region in which you live. We analyzed all health insurance plans in Indiana and found that either the Ambetter Balanced Care 12 or CareSource Marketplace Low Premium Silver was the cheapest Silver policy in every county. However, the monthly rates may differ by county. Ambetter's policy, for instance, costs between $242 and $392 per month for a 30-year-old, depending on where you live in Indiana.

Cheapest health insurance coverage by metal tier

The average health insurance premium is $420 in Indiana for a 40-year-old. This represents a 13% increase from the average 2018 rate, or $48 more per month on average.

We compared Indiana health insurance plans by metal tier and identified the cheapest policy in the state for each level of coverage. There are four different levels of coverage offered on the state marketplace, and we recommend using the table below as a baseline when comparing the different costs and benefits among metal tiers.

For example, the Ambetter Balanced Care 12 is the cheapest Silver plan. It comes with a minimum monthly premium of $272 for a 40-year-old, but it has a deductible of $6,500. On the other hand, the minimum monthly premium for the cheapest Gold plan, the Ambetter Secure Care 5, is $366. But the Gold health insurance policy has a much more affordable deductible of $1,250.

Metal tierCheapest planDeductibleOut-of-pocket maximumMonthly cost for 40-year-old
BronzeAmbetter Essential Care 1$8,150$8,150$246
Expanded BronzeAmbetter Essential Care 2 HSA$6,750$6,750$263
SilverAmbetter Balanced Care 12$6,500$8,150$272
GoldAmbetter Secure Care 5$1,250$5,900$366

The age of each person insured and coverage tier are two important factors that affect your monthly premium. As your age increases, premiums across all metal tiers increase. For example, a 40-year-old would pay on average $458 less per month than a 60-year-old for a Silver health plan in Indiana. But for a Gold plan, a 60-year-old would pay an average of $611 more per month than a 40-year-old, which is a difference of 112%.

Average Monthly Cost of Health Insurance Plans by Metal Tier in Indiana

Finding your best health insurance coverage in Indiana

The best cheap health insurance in Indiana for you will depend on the county in which you live, as the same policy may have different rates depending on where you live. Your income will play a role as well. Indiana expanded Medicaid under the Affordable Care Act, so you can qualify for coverage if your household income is up to 138% of the federal poverty level.

Gold is the highest tier, followed by Silver, Expanded Bronze and Bronze. Premiums for Gold plans are more expensive than for Silver plans, but these policies offer significantly lower out-of-pocket expenses, such as deductibles, copays and coinsurance. If you have high recurring medical costs, such as expensive prescriptions, or you think you may become sick, a Gold plan may be the most cost-effective option for you. On the other hand, if you are young, healthy and have no expected medical costs in the near future, then a lower-tier plan will keep your monthly premiums low while ensuring you have coverage in case of any medical emergencies.

Gold plans: best for high expected medical costs

If you use or expect to use your insurance often, then Gold plans will typically offer you the best balance of costs, since they tend to offer lower deductibles and copays. This will offset the higher monthly rates you can typically expect to pay for Gold policies. Ultimately, these health plans are best if you have high expected medical costs, such as chronic conditions that may require constant medical attention, or you're concerned about being able to pay out of pocket for an unexpected condition.

Silver plans: best for those with low income or average medical costs

Silver plans are a good balance between between the higher monthly premiums provided in a Gold plan and the higher out-of-pocket costs on Bronze plans. If your household income falls between 139% and 250% of the national poverty level, you can qualify for cost-sharing reduction (CSR) subsidies, which would further lower your out-of-pocket expenses. Typical Silver plans cover about 70% of your health care costs while you pay 30%. But with CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.

Bronze plans: best for young, healthy people

Bronze plans offer lower monthly premiums compared to Silver and Gold plans. However, this comes with lower coverage, meaning higher out-of-pocket costs like deductibles, copays or coinsurance. So, if you need medical care during the year, you would have to pay more money before coverage kicks in. We wouldn't recommend these policies unless you can afford the higher deductibles, copays and coinsurance in case of a medical emergency.

Expanded Bronze plans are a new plan tier introduced three years ago. This tier increases the coverage on a typical Bronze plan, which may cover about 60% of your health care costs. The Expanded Bronze plans cover up to about 65% of your costs.

Short-term health insurance in Indiana

In Indiana, short-term health insurance is available, however the state does not follow federal guidelines for this type of policy and instead sets its own regulations. This includes restricting the maximum length of the policy to six months and not allowing any renewals after the initial term.

Short-term health insurance may be a good option for coverage if you are currently between jobs or missed open enrollment. However, in Indiana, these plans do not cover the essential health benefits laid out in the Affordable Care Act (ACA). Therefore, if you purchased a short-term plan, you would likely receive no coverage for preexisting conditions or the essential health benefits.

Find Cheap Health Insurance Quotes in Your Area

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Best cheap health insurance companies in Indiana

Although Indiana had four insurance companies on the health insurance marketplace in 2017, Anthem and MDwise left and have not returned. Today, there are two health insurance companies on the Indiana state exchange: CareSource Indiana Inc. and Celtic Insurance Co. Both companies are available in every county and offer Expanded Bronze, Gold and Silver policies. CareSource does not offer standard Bronze plans; these are only available from Celtic Insurance in Indiana.

Cheapest health insurance plan by county

We compared the most affordable Silver policies available on the state exchange by county to help you get started on your search for the best health insurance plan in Indiana. Below, you can see which policy has the best rates for your county, as well as sample monthly premiums for an individual, couple and family of three.

CountyCheapest Silver planSingle adult, age 40Couple, age 40Couple, age 40, and child
AdamsAmbetter Balanced Care 12$357$714$928
AllenAmbetter Balanced Care 12$398$795$1,034
BartholomewCareSource Marketplace Low Premium Silver$372$745$968
BentonAmbetter Balanced Care 12$358$716$930
BlackfordCareSource Marketplace Low Premium Silver$374$749$973
BooneCareSource Marketplace Low Premium Silver$421$843$1,095
BrownCareSource Marketplace Low Premium Silver$393$787$1,022
CarrollCareSource Marketplace Low Premium Silver$365$729$948
CassAmbetter Balanced Care 12$329$658$855
ClarkAmbetter Balanced Care 12$330$660$857
ClayAmbetter Balanced Care 12$385$770$1,000
ClintonCareSource Marketplace Low Premium Silver$365$729$948
CrawfordAmbetter Balanced Care 12$330$660$857
DaviessAmbetter Balanced Care 12$330$660$857
DearbornAmbetter Balanced Care 12$272$545$708
DecaturCareSource Marketplace Low Premium Silver$372$745$968
DekalbAmbetter Balanced Care 12$357$714$928
DelawareCareSource Marketplace Low Premium Silver$374$749$973
DuboisAmbetter Balanced Care 12$330$660$857
ElkhartCareSource Marketplace Low Premium Silver$364$728$946
FayetteCareSource Marketplace Low Premium Silver$390$781$1,014
FloydAmbetter Balanced Care 12$330$660$857
FountainCareSource Marketplace Low Premium Silver$365$729$948
FranklinAmbetter Balanced Care 12$272$545$708
FultonAmbetter Balanced Care 12$329$658$855
GibsonAmbetter Balanced Care 12$378$755$982
GrantCareSource Marketplace Low Premium Silver$374$749$973
GreeneAmbetter Balanced Care 12$330$660$857
HamiltonCareSource Marketplace Low Premium Silver$421$843$1,095
HancockCareSource Marketplace Low Premium Silver$390$781$1,014
HarrisonAmbetter Balanced Care 12$330$660$857
HendricksCareSource Marketplace Low Premium Silver$421$843$1,095
HenryCareSource Marketplace Low Premium Silver$390$781$1,014
HowardAmbetter Balanced Care 12$329$658$855
HuntingtonAmbetter Balanced Care 12$357$714$928
JacksonCareSource Marketplace Low Premium Silver$372$745$968
JasperAmbetter Balanced Care 12$358$716$930
JayCareSource Marketplace Low Premium Silver$374$749$973
JeffersonAmbetter Balanced Care 12$330$660$857
JenningsCareSource Marketplace Low Premium Silver$372$745$968
JohnsonCareSource Marketplace Low Premium Silver$393$787$1,022
KnoxAmbetter Balanced Care 12$330$660$857
KosciuskoCareSource Marketplace Low Premium Silver$364$728$946
La PorteCareSource Marketplace Low Premium Silver$362$725$942
LagrangeAmbetter Balanced Care 12$357$714$928
LakeCareSource Marketplace Low Premium Silver$362$725$942
LawrenceCareSource Marketplace Low Premium Silver$393$787$1,022
MadisonCareSource Marketplace Low Premium Silver$390$781$1,014
MarionCareSource Marketplace Low Premium Silver$421$843$1,095
MarshallCareSource Marketplace Low Premium Silver$364$728$946
MartinAmbetter Balanced Care 12$330$660$857
MiamiAmbetter Balanced Care 12$329$658$855
MonroeCareSource Marketplace Low Premium Silver$393$787$1,022
MontgomeryCareSource Marketplace Low Premium Silver$365$729$948
MorganCareSource Marketplace Low Premium Silver$421$843$1,095
NewtonAmbetter Balanced Care 12$358$716$930
NobleAmbetter Balanced Care 12$357$714$928
OhioAmbetter Balanced Care 12$272$545$708
OrangeAmbetter Balanced Care 12$330$660$857
OwenCareSource Marketplace Low Premium Silver$393$787$1,022
ParkeAmbetter Balanced Care 12$385$770$1,000
PerryAmbetter Balanced Care 12$330$660$857
PikeAmbetter Balanced Care 12$330$660$857
PorterCareSource Marketplace Low Premium Silver$362$725$942
PoseyAmbetter Balanced Care 12$378$755$982
PulaskiAmbetter Balanced Care 12$329$658$855
PutnamCareSource Marketplace Low Premium Silver$365$729$948
RandolphCareSource Marketplace Low Premium Silver$374$749$973
RipleyAmbetter Balanced Care 12$272$545$708
RushCareSource Marketplace Low Premium Silver$372$745$968
ScottAmbetter Balanced Care 12$330$660$857
ShelbyCareSource Marketplace Low Premium Silver$421$843$1,095
SpencerAmbetter Balanced Care 12$330$660$857
St. JosephCareSource Marketplace Low Premium Silver$364$728$946
StarkeCareSource Marketplace Low Premium Silver$364$728$946
SteubenAmbetter Balanced Care 12$357$714$928
SullivanAmbetter Balanced Care 12$385$770$1,000
SwitzerlandAmbetter Balanced Care 12$272$545$708
TippecanoeCareSource Marketplace Low Premium Silver$365$729$948
TiptonCareSource Marketplace Low Premium Silver$365$729$948
UnionCareSource Marketplace Low Premium Silver$390$781$1,014
VanderburghAmbetter Balanced Care 12$378$755$982
VermillionAmbetter Balanced Care 12$385$770$1,000
VigoAmbetter Balanced Care 12$385$770$1,000
WabashAmbetter Balanced Care 12$357$714$928
WarrenAmbetter Balanced Care 12$358$716$930
WarrickAmbetter Balanced Care 12$378$755$982
WashingtonAmbetter Balanced Care 12$330$660$857
WayneCareSource Marketplace Low Premium Silver$390$781$1,014
WellsAmbetter Balanced Care 12$357$714$928
WhiteAmbetter Balanced Care 12$358$716$930
WhitleyAmbetter Balanced Care 12$357$714$928

Average cost of health insurance by family size

The cost of health insurance for your family in Indiana will largely be affected by the tier and health plan you select, the number of people covered and their ages. Adding children to your health insurance plan will cost an additional flat rate for coverage until they are 15. Upon reaching 15, the monthly rate will increase as they grow older.

For example, the average monthly premium on a Silver plan for a family of four, assuming two 40-year-old parents and a child, is $1,304 in Indiana. If you were to add another child to the plan, the monthly premium would increase by $244. So for a family of five, the total monthly health insurance rate would be $1,548.

Family sizeAverage monthly cost of health plan
Individual + Child$652
Couple Age 40$816
Family of three (Adult couple and a child)$1,060
Family of four (Adult couple and two children)$1,304
Family of five (Adult couple and three children)$1,548
Adults are assumed to be 40 years old. Sample rates are based on the average cost for a Silver plan in Indiana.

Health insurance rate changes in Indiana

Health insurance policy premiums are set by insurers on the marketplace, then sent to the Indiana exchange for approval. Over the past two years, the average cost of a health plan in Indiana has increased by 13%, representing $48 per month for a typical 40-year-old.

The cost of a Gold plan increased 14%—the largest change of any metal tier. Expanded Bronze plans were the only tier of coverage to experience a decrease in cost in Indiana since 2018. The mean cost of an Expanded Bronze 2020 policy is $14 lower per month.

Metal Tier2018 Premium2020 Premium% Change
Bronze$317$3468.99%
Expanded Bronze$346$332-4.12%
Silver$370$40810.21%
Gold$476$54414.19%
Rates are based on a 40-year-old adult.

Methodology

Rates and health insurance policy information for Indiana was sourced from the Centers for Medicare & Medicaid Services (CMS) government website. The data used in this analysis was based on the CMS's Public Use Files (PUF). ValuePenguin then calculated the average premiums across metal tier, family size and region.

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.