Health Insurance

Best Cheap Health Insurance in Kentucky 2020

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The Kentucky state health insurance exchange or Medicaid can offer cheap health insurance plans for residents, although the best policy for you will depend on your medical needs and financial situation.

In 2020, the average cost of health insurance in Kentucky is $455 for a 40-year-old. This represents a 13% increase from the 2018 plan year when the monthly costs was $402.

We analyzed all health insurance plans on the Kentucky marketplace and found that either the CareSource Low Premium Silver, Anthem Silver Pathway X HMO 7200 or Anthem Silver Pathway X Transition HMO 6700 was the cheapest Silver plan available in most counties.

Cheapest health insurance by metal tier

We compared Kentucky health insurance plans by metal tier and identified the cheapest policy in the state for each level of coverage. You can use the table below to compare the different costs and benefits among the metal tiers.

For example, the Anthem Silver Pathway X Transition HMO 6700 is the cheapest Silver plan, and it comes with a minimum monthly premium of $398 for a 40-year-old and a deductible of $6,700. On the other hand, the minimum monthly premium for the cheapest Gold plan, CareSource Gold, is $489, but it has a much lower deductible of $2,000.

Although CareSource provides the cheapest plans in Kentucky, the cheapest plan for your county may differ depending on insurer availability.

Metal tierCheapest planDeductibleMaximum out-of-pocket costMonthly cost for a 40-year-old
CatastrophicAnthem Catastrophic Pathway Transition X HMO 8150$8,150$8,150$241
Expanded BronzeCareSource Marketplace Bronze$7,700$8,150$288
SilverAnthem Silver Pathway X Transition HMO 6700$6,700$8,150$398
GoldCareSource Marketplace Gold$2,000$6,500$489

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Your age and the metal tier of the plan you choose are two important factors that impact your monthly health insurance premium. As the policyholder's age increases, premiums across all metal tiers will increase.

For Kentucky, this means a premium for a 40-year-old will be 22% more expensive than for a 21-year-old. That same 40-year-old would pay 53% lower rates for a policy than a 60-year-old.

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

Finding your best health insurance coverage in Kentucky

The best health insurance policy for you is one that fits your medical needs and financial situation. Typically, policies in the higher metal tiers (Silver and Gold) have costlier monthly premiums, but they also provide lower out-of-pocket expenses, like deductibles, copays and coinsurance.

These plans are best if you think you may become sick or already have high recurring medical costs that arise from chronic conditions. On the other hand, those who are young and healthy or don't expect to have many medical costs may wish to choose a plan in a lower metal tier (Bronze, Expanded Bronze and Catastrophic) to save money.

Gold plans: best for high expected medical costs

Gold plans are the highest metal tier available in Kentucky and typically cover the greatest share of out-of-pocket costs, which means you'll pay lower deductibles, copays and coinsurance. These benefits come at the expense of a higher monthly premium.

The average cost of a Gold plan in Kentucky is 21% greater than the average cost of a Silver health plan. Generally, Gold health insurance policies are the best in terms of cost-effectiveness if you expect to incur high medical expenses, such as from chronic conditions, or you have costly prescriptions. You can expect these plans to cover about 80% of your medical costs, while you pay for the remaining 20%.

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

The coverage and cost of Silver plans fall between Gold and Bronze plans. They can be a good option if you want a lower monthly premium than a Gold plan but higher health coverage than a Bronze plan.

However, Silver plans are eligible for cost-sharing reduction (CSR) subsidies that would further lower out-of-pocket expenses for low-income families. 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 and Catastrophic plans: best for young, healthy people

Catastrophic and Bronze health insurance plans offer the cheapest monthly premiums, but the trade-off is that they also offer the lowest coverage. Furthermore, Catastrophic plans are only available to people who are younger than 30 or can qualify for an exemption.

Bronze plans are available to everyone, and premiums are 36% cheaper than Silver plans on average. But, if you need medical care during the year, you would have to pay more out of pocket before coverage kicks in.

On average, you can expect a Bronze plan to cover about 60% of your health costs, while you pay for the other 40%. Expanded Bronze plans increase coverage to about 65%, while you pay roughly 35%. Therefore, we would only recommend these plans if you have the financial means to cover a large portion of a potential medical emergency.

Health insurance rate changes in Kentucky

In Kentucky, health insurance providers are required by law to get any premium, deductible or out-of-pocket maximum changes approved by federal regulators.

In 2020, Catastrophic health insurance plans has the most severe change — increasing by over 21% since 2018. Unfortunately, all insurance plans in Kentucky experience a rise in monthly premiums.

Metal tier2018 Premium2020 Premium% Change
Catastrophic$252$30521.13%
Expanded Bronze$334$3607.87%
Silver$445$49511.21%
Gold$530$59913.07%
2018 and 2020 premiums are for a 40-year-old adult.

Best cheap health Insurance Companies in Kentucky

Since the Affordable Care Act was passed, Kentucky has been one of the most successful states in reducing the uninsured rate. There are currently two health insurance companies on the Kentucky state exchange: Anthem Health Plans of KY(Anthem BCBS) and CareSource Kentucky Co.

Cheapest health insurance plan by county

The cheapest Silver health insurance policy in Kentucky is either the Anthem Silver Pathway X HMO 7200, CareSource Low Premium Silver or Anthem Silver Pathway X Transition HMO 6700, depending on where you live.

But the cost of these plans will differ depending on where you live, your age and the number of people covered. In Hopkins County, for instance, a 40-year-old would pay $26 more per month for the same policy than they would pay in Hickman County. The table below shows the sample monthly rates for the most affordable plan in each county for an individual, a couple and a family of three.

CountyCheapest planAge 40Couple, age 40Couple, age 40 + child
AdairCareSource Marketplace Low Premium Silver$439$878$1,141
AllenAnthem Silver Pathway X HMO 7200$533$1,067$1,386
AndersonCareSource Marketplace Low Premium Silver$446$892$1,158
BallardAnthem Silver Pathway X HMO 7200$499$999$1,298
BarrenAnthem Silver Pathway X HMO 7200$533$1,067$1,386
BathCareSource Marketplace Low Premium Silver$429$859$1,116
BellCareSource Marketplace Low Premium Silver$410$821$1,067
BooneCareSource Marketplace Low Premium Silver$514$1,029$1,336
BourbonAnthem Silver Pathway X Transition HMO 6700$442$883$1,147
BoydCareSource Marketplace Low Premium Silver$429$859$1,116
BoyleCareSource Marketplace Low Premium Silver$446$892$1,158
BrackenCareSource Marketplace Low Premium Silver$429$859$1,116
BreathittCareSource Marketplace Low Premium Silver$410$821$1,067
BreckinridgeAnthem Silver Pathway X HMO 7200$462$924$1,200
BullittAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
ButlerAnthem Silver Pathway X HMO 7200$533$1,067$1,386
CaldwellAnthem Silver Pathway X HMO 7200$499$999$1,298
CallowayAnthem Silver Pathway X HMO 7200$499$999$1,298
CampbellCareSource Marketplace Low Premium Silver$514$1,029$1,336
CarlisleAnthem Silver Pathway X HMO 7200$499$999$1,298
CarrollAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
CarterCareSource Marketplace Low Premium Silver$429$859$1,116
CaseyCareSource Marketplace Low Premium Silver$439$878$1,141
ChristianAnthem Silver Pathway X HMO 7200$525$1,051$1,365
ClarkAnthem Silver Pathway X Transition HMO 6700$442$883$1,147
ClayCareSource Marketplace Low Premium Silver$410$821$1,067
ClintonAnthem Silver Pathway X HMO 7200$533$1,067$1,386
CrittendenAnthem Silver Pathway X HMO 7200$499$999$1,298
CumberlandCareSource Marketplace Low Premium Silver$439$878$1,141
DaviessAnthem Silver Pathway X HMO 7200$525$1,051$1,365
EdmonsonAnthem Silver Pathway X HMO 7200$533$1,067$1,386
ElliottCareSource Marketplace Low Premium Silver$429$859$1,116
EstillCareSource Marketplace Low Premium Silver$446$892$1,158
FayetteAnthem Silver Pathway X Transition HMO 6700$442$883$1,147
FlemingCareSource Marketplace Low Premium Silver$429$859$1,116
FloydCareSource Marketplace Low Premium Silver$410$821$1,067
FranklinCareSource Marketplace Low Premium Silver$446$892$1,158
FultonAnthem Silver Pathway X HMO 7200$499$999$1,298
GallatinCareSource Marketplace Low Premium Silver$514$1,029$1,336
GarrardCareSource Marketplace Low Premium Silver$446$892$1,158
GrantCareSource Marketplace Low Premium Silver$514$1,029$1,336
GravesAnthem Silver Pathway X HMO 7200$499$999$1,298
GraysonAnthem Silver Pathway X HMO 7200$462$924$1,200
GreenCareSource Marketplace Low Premium Silver$439$878$1,141
GreenupCareSource Marketplace Low Premium Silver$429$859$1,116
HancockAnthem Silver Pathway X HMO 7200$525$1,051$1,365
HardinAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
HarlanCareSource Marketplace Low Premium Silver$410$821$1,067
HarrisonCareSource Marketplace Low Premium Silver$446$892$1,158
HartAnthem Silver Pathway X HMO 7200$533$1,067$1,386
HendersonAnthem Silver Pathway X HMO 7200$525$1,051$1,365
HenryAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
HickmanAnthem Silver Pathway X HMO 7200$499$999$1,298
HopkinsAnthem Silver Pathway X HMO 7200$525$1,051$1,365
JacksonCareSource Marketplace Low Premium Silver$446$892$1,158
JeffersonAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
JessamineAnthem Silver Pathway X Transition HMO 6700$442$883$1,147
JohnsonCareSource Marketplace Low Premium Silver$410$821$1,067
KentonCareSource Marketplace Low Premium Silver$514$1,029$1,336
KnottCareSource Marketplace Low Premium Silver$410$821$1,067
KnoxCareSource Marketplace Low Premium Silver$410$821$1,067
LarueAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
LaurelCareSource Marketplace Low Premium Silver$410$821$1,067
LawrenceCareSource Marketplace Low Premium Silver$429$859$1,116
LeeCareSource Marketplace Low Premium Silver$410$821$1,067
LeslieCareSource Marketplace Low Premium Silver$410$821$1,067
LetcherCareSource Marketplace Low Premium Silver$410$821$1,067
LewisCareSource Marketplace Low Premium Silver$429$859$1,116
LincolnCareSource Marketplace Low Premium Silver$446$892$1,158
LivingstonAnthem Silver Pathway X HMO 7200$499$999$1,298
LoganAnthem Silver Pathway X HMO 7200$533$1,067$1,386
LyonAnthem Silver Pathway X HMO 7200$499$999$1,298
MadisonCareSource Marketplace Low Premium Silver$446$892$1,158
MagoffinCareSource Marketplace Low Premium Silver$410$821$1,067
MarionCareSource Marketplace Low Premium Silver$415$830$1,078
MarshallAnthem Silver Pathway X HMO 7200$499$999$1,298
MartinCareSource Marketplace Low Premium Silver$410$821$1,067
MasonCareSource Marketplace Low Premium Silver$429$859$1,116
MccrackenAnthem Silver Pathway X HMO 7200$499$999$1,298
MccrearyCareSource Marketplace Low Premium Silver$439$878$1,141
McleanAnthem Silver Pathway X HMO 7200$525$1,051$1,365
MeadeCareSource Marketplace Low Premium Silver$415$830$1,078
MenifeeCareSource Marketplace Low Premium Silver$429$859$1,116
MercerCareSource Marketplace Low Premium Silver$446$892$1,158
MetcalfeCareSource Marketplace Low Premium Silver$439$878$1,141
MonroeAnthem Silver Pathway X HMO 7200$533$1,067$1,386
MontgomeryCareSource Marketplace Low Premium Silver$446$892$1,158
MorganCareSource Marketplace Low Premium Silver$429$859$1,116
MuhlenbergAnthem Silver Pathway X HMO 7200$525$1,051$1,365
NelsonAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
NicholasCareSource Marketplace Low Premium Silver$446$892$1,158
OhioAnthem Silver Pathway X HMO 7200$525$1,051$1,365
OldhamAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
OwenCareSource Marketplace Low Premium Silver$446$892$1,158
OwsleyCareSource Marketplace Low Premium Silver$410$821$1,067
PendletonCareSource Marketplace Low Premium Silver$514$1,029$1,336
PerryCareSource Marketplace Low Premium Silver$410$821$1,067
PikeCareSource Marketplace Low Premium Silver$410$821$1,067
PowellCareSource Marketplace Low Premium Silver$446$892$1,158
PulaskiCareSource Marketplace Low Premium Silver$439$878$1,141
RobertsonCareSource Marketplace Low Premium Silver$429$859$1,116
RockcastleCareSource Marketplace Low Premium Silver$446$892$1,158
RowanCareSource Marketplace Low Premium Silver$429$859$1,116
RussellCareSource Marketplace Low Premium Silver$439$878$1,141
ScottAnthem Silver Pathway X Transition HMO 6700$442$883$1,147
ShelbyAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
SimpsonAnthem Silver Pathway X HMO 7200$533$1,067$1,386
SpencerAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
TaylorCareSource Marketplace Low Premium Silver$439$878$1,141
ToddAnthem Silver Pathway X HMO 7200$525$1,051$1,365
TriggAnthem Silver Pathway X HMO 7200$525$1,051$1,365
TrimbleAnthem Silver Pathway X Transition HMO 6700$398$795$1,033
UnionAnthem Silver Pathway X HMO 7200$525$1,051$1,365
WarrenAnthem Silver Pathway X HMO 7200$533$1,067$1,386
WashingtonCareSource Marketplace Low Premium Silver$415$830$1,078
WayneCareSource Marketplace Low Premium Silver$439$878$1,141
WebsterAnthem Silver Pathway X HMO 7200$525$1,051$1,365
WhitleyCareSource Marketplace Low Premium Silver$410$821$1,067
WolfeCareSource Marketplace Low Premium Silver$410$821$1,067
WoodfordAnthem Silver Pathway X Transition HMO 6700$442$883$1,147

Average cost of health insurance by family size in Kentucky

The health plan you choose, the number of people covered and their ages will all contribute to the cost of health insurance for your family in Kentucky. If you add children to your health insurance plan, each child will cost a flat rate for coverage until they are 15 years old. Once they reach 15, the monthly rate will increase as they grow older.

For instance, the average monthly health insurance cost for a family of four, assuming two 40-year-old parents and two children on a Silver plan, is $1,582 in Kentucky. If you were to add another child to the plan, the monthly premium would increase by $296. So for a family of five, the total monthly cost of health coverage would be $1,878.

Family sizeAverage monthly cost of health plan
Individual + child$791
Couple, age 40$990
Family of three (Adult couple and a child)$1,286
Family of four (Adult couple and two children)$1,582
Family of five (Adult couple and three children)$1,878
Adults are assumed to be 40 years old. Sample rates are based on the average cost for a Silver plan in Kentucky.

Methodology

Health insurance rates, deductibles and out-of-pocket maximums found in this report were compiled from data found on the Centers for Medicare & Medicaid government website. ValuePenguin utilized the Public Use Files (PUF) to calculate averages by metal tier, county and family size to provide a detailed evaluation of health insurance in Kentucky for the 2020 plan year.

Sterling Price

Sterling Price is a research analyst at ValuePenguin specializing in health and life insurance. He graduated from Syracuse University with a bachelors degree in Finance and Accounting and has previous experience as a licensed life insurance representative.

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.