Best Cheap Health Insurance in Maine (2023)
Best Cheap Health Insurance in Maine (2023)
Find Cheap Health Insurance Quotes in Maine
Maine residents can find cheap health insurance options on the state exchange or through Medicaid if they qualify based on income.
The average cost of a Silver health insurance plan in Maine is $506 per month for a 40-year-old.
We researched all the health insurance plans available on the state marketplace and found that the cheapest Silver health plan in Maine is the Health Options Clear Choice Silver $4200 HMO Tiered NE, which is the cheapest Silver plan in the majority of counties. However, the cheapest plan for you may depend on your choice of metal tier and where you live.
The availability and monthly premium of health plans differ based on where you live, as the average cost of a Silver health plan varies by up to $138 per month among counties in Maine.
Cheapest health insurance by metal tier
The cost of health insurance for an individual is significantly driven by your age, location and the metal tier of coverage you choose.
To help you in your search, we compared all health insurance plans in Maine to find the cheapest policy available for each tier of coverage. The table below provides a good starting point in comparing the costs and benefits you may expect out of each tier of coverage.
Metal tier | Cheapest plan | Monthly cost (age 40) | Deductible | Out-of-pocket maximum |
|---|---|---|---|---|
| Bronze | Health Options Clear Choice Bronze $7500 HMO Tiered NE | $346 | $7,500 | $9,100 |
| Silver | Health Options Clear Choice Silver $4200 HMO Tiered NE | $419 | $4,200 | $9,100 |
| Gold | Anthem Clear Choice Gold X Tiered 2500 | $474 | $2,500 | $5,000 |
| Platinum | Health Options Clear Choice Platinum PPO NE | $619 | $500 | $3,000 |
The best level of coverage for you is based on your medical needs and financial situation, with higher tier policies carrying more expensive monthly rates but lower out-of-pocket costs.
Comparing the above policies, Maine's Health Options Clear Choice Silver $4200 HMO Tiered NE plan has a monthly rate of $419 for a 40-year-old, which is about $55 cheaper per month than the Anthem Clear Choice Gold X Tiered 2500 plan.
However, the Gold plan means lower out-of-pocket costs in the form of deductibles, copays and coinsurance.
Across all metal tiers, your monthly cost of health insurance will increase with age. But the absolute price difference will vary depending on the tier of health plan you've chosen.
For example, a 40-year-old in Maine would pay 28% more for a Silver plan than a 21-year-old, which comes to an additional $110 per month. As you get older, though, medical expenses are often more frequent and costly, so the lower cost-sharing of a higher tier plan may justify the additional premium payments.
Metal tier | Age 21 | Age 40 | Age 60 |
|---|---|---|---|
| Bronze | $324 | $415 | $595 |
| Silver | $396 | $506 | $793 |
| Gold | $448 | $573 | $932 |
| Platinum | $538 | $688 | $1,172 |
Health insurance rate changes in Maine
The average cost of health insurance in Maine increased by an average of 10% across Bronze, Silver and Gold plans from 2022 to 2023. Bronze plans had the greatest increase across the three metal tiers, increasing by an average of 12% year over year.
Metal tier | 2022 | 2023 | Change |
|---|---|---|---|
| Bronze | $369 | $415 | 12% |
| Silver | $465 | $506 | 9% |
| Gold | $519 | $573 | 10% |
Monthly premiums are for a 40-year-old adult.
Finding your best health insurance coverage in Maine
The best health insurance plans for you in Maine will vary by region because the availability and price of plans can change by county. For example, the Health Options Clear Choice Silver $4200 HMO Tiered NE plan has a monthly premium of $536 for a 40-year-old in Hancock County but a $419 monthly premium in Cumberland County. Regardless of where you live, there is a range of plans at varying coverage tiers to fit your needs.
Higher metal tier health plans, such as Gold plans, typically have more expensive monthly premiums than lower tier plans, like Silver plans, but offer lower out-of-pocket expenses like deductibles, copays and coinsurance. This means if you have a medical condition or costly prescriptions, a higher metal tier plan may be the best health insurance option for you.
However, those who are young and healthy may wish to consider a lower metal tier policy, which is better for those who have no expected medical costs and have the means to pay the larger out-of-pocket expenses if an emergency does occur.
Gold and Platinum plans: Best for high expected medical costs
Despite the highest monthly premiums, Gold and Platinum policies can be cost-effective for those who expect to use their insurance often.
This is because the lower deductibles and copays can outweigh the higher monthly rate for those with high recurring medical costs that arise from chronic conditions or prescriptions. These policies are also great for those who are concerned about being able to pay out of pocket for an unexpected condition.
The cheapest Gold plan in Maine is the Anthem Clear Choice Gold X Tiered 2500. The cheapest Platinum plan in Maine is the Health Options Clear Choice Platinum PPO NE. Compare all tiers in Maine above.
Silver plans: Best for those with low incomes or average medical costs
Silver plans fall between higher metal tier Gold plans and lower metal tier Bronze plans. Silver plans are a good middle ground in terms of the typical monthly premiums and out-of-pocket costs.
Furthermore, if you are part of a lower-income household, you may 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 under CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.
The cheapest Silver plan in Maine is the Health Options Clear Choice Silver $4200 HMO Tiered NE. Compare all tiers in Maine above.
Bronze plans: Best for young, healthy people
Bronze plans are open to everyone and typically offer lower-cost premiums compared to Silver and Gold plans. However, the affordable monthly rates for these health plans mean higher costs in the form of deductibles, copays or coinsurance. We wouldn't recommend these policies unless you can afford the higher cost-sharing in the case of a medical emergency.
The cheapest Bronze plan in Maine is the Health Options Clear Choice Bronze $7500 HMO Tiered NE. Compare all tiers in Maine above.
Short-term health insurance in Maine
Short-term health insurance is available for purchase in Maine. The state follows similar restrictions as federal guidelines, meaning that short-term policies have coverage lengths of 12 months. However, short-term health plans can only be renewed for up to a total of 24 months.
Most short-term health plans do not cover the essential benefits, which include maternity, mental health and prescription drug coverage. These policies are not qualified Affordable Care Act plans and are not offered on the state health insurance exchanges. You may want to consider short-term policies if you need an affordable health insurance option or missed the open enrollment period.
Find Cheap Health Insurance Quotes in Your Area
Best cheap health insurance companies in Maine
Currently, there are four health insurance companies on the Maine state exchange: Anthem, Harvard Pilgrim Health Care, Maine Community Health Options and Taro Health.
Anthem, Harvard Pilgrim Health Care and Maine Community Health Options provide coverage across all 16 counties in the state, offering multiple tiers of coverage. Taro Health plans, launching for the first time in 2023, will only be offered in Cumberland County. We recommend beginning your search with Maine Community Health Options, as the company offers the cheapest Silver health insurance plan in 63% of Maine counties.
Cheapest health insurance plan by county
The cheapest health insurance plan in Maine changes by region, so we analyzed all Silver policies by county to help you get started on your search. The table below lists the best-priced Silver policy for each county and sample monthly premiums for a 40-year-old.
County | Cheapest Silver plan | Cost of the cheapest Silver plan | Average cost of a Silver plan in the county |
|---|---|---|---|
| Androscoggin | Anthem Clear Choice Silver X Tiered 6000 | $468 | $505 |
| Aroostook | Health Options Clear Choice Silver $4200 HMO Tiered NE | $536 | $598 |
| Cumberland | Health Options Clear Choice Silver $4200 HMO Tiered NE | $419 | $460 |
| Franklin | Anthem Clear Choice Silver X Tiered 6000 | $468 | $505 |
| Hancock | Health Options Clear Choice Silver $4200 HMO Tiered NE | $536 | $598 |
| Kennebec | Health Options Clear Choice Silver $4200 HMO Tiered NE | $442 | $487 |
| Knox | Health Options Clear Choice Silver $4200 HMO Tiered NE | $442 | $487 |
| Lincoln | Health Options Clear Choice Silver $4200 HMO Tiered NE | $442 | $487 |
| Oxford | Health Options Clear Choice Silver $4200 HMO Tiered NE | $442 | $487 |
| Penobscot | Anthem Clear Choice Silver X Tiered 6000 | $461 | $507 |
| Piscataquis | Anthem Clear Choice Silver X Tiered 6000 | $461 | $507 |
| Sagadahoc | Health Options Clear Choice Silver $4200 HMO Tiered NE | $419 | $461 |
Monthly premiums are for a 40-year-old adult.
Methodology
The health insurance rate data in ValuePenguin's analysis was sourced from Maine's CoverME.gov health insurance exchange website. Premiums were averaged across a variety of factors such as metal tier, county and age.
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.