Health Insurance

Best Cheap Health Insurance in Maryland 2022

Best Cheap Health Insurance in Maryland 2022

Find Cheap Health Insurance Quotes in Maryland

Currently insured?

Cheap health insurance in Maryland can be purchased through the state health insurance exchange or acquired if you qualify for the federally funded Medicaid program.

After comparing quotes in the state, we found that the cheapest Silver health insurance plan in most Maryland counties is Kaiser Permanente's KP MD Silver Virtual Forward 4000. We also analyzed rates to find the cheapest policies in Bronze and Gold metal tiers.

Select a plan tier to learn more:

In the state, there are currently only three health insurance providers: CareFirst, UnitedHealthcare and Kaiser Permanente.

Cheapest health insurance by metal tier

We compared plans from the Maryland Health Connection marketplace to identify some of the cheapest health insurance options available to residents. If you do not currently receive employer-sponsored or federally funded health insurance, then you can purchase health coverage through the state marketplace. For example, if you are currently self-employed, then you can purchase a policy through the state exchange.

The table below shows the cheapest individual health insurance plan for each metal tier along with the plan deductible, out-of-pocket maximum and monthly cost for a 40-year-old. This information can help you figure out which metal tier fits your coverage needs and budget.

Metal tier
Cheapest plan
Monthly cost for a 40-year-old
Deductible
Out-of-pocket maximum
BronzeKP MD Bronze 6900/0%/HSA/Vision$234$6,900$6,900
SilverKP MD Silver Virtual Forward 4000$317$4,000$8,550
GoldKP MD Gold Virtual Forward 2000$291$2,000$5,000
PlatinumKP MD Platinum 0/15/Vision$367$0$4,000

As you can see, Maryland offers four different metal tiers for coverage: Bronze, Silver, Gold and Platinum. The lowest tier, Bronze, tends to have the highest deductible but the lowest monthly premium, making it the most affordable option if you are healthy and expect to have few health care expenses.

On the other hand, the higher metal tiers, such as Gold and Platinum, have more expensive premiums but lower out-of-pocket expenses. For example, the cheapest Gold metal policy in Maryland is 25% more expensive than the best-priced Bronze plan.

In 2022, those who qualify for health insurance subsidies through the Health Insurance Marketplace will pay less for insurance because of the expanded health insurance tax credits as a part of the American Rescue Plan Act. This means most people can get better coverage without increasing their monthly costs, or they may be able to keep the same level of coverage and lower their monthly bills.

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Average cost of Maryland health insurance by age

On average, someone in Maryland will spend between $285 and $774 for a Silver health insurance plan, depending on their age. The graph below illustrates the average monthly cost for health insurance by age and metal tier of coverage.

Cheapest health insurance companies in Maryland

For example, for a Silver policy, a 40-year-old would pay $365 on average, which is 28% more than the premium for a 21-year-old on the same policy. The jump in monthly cost is even larger as you get older, with a 60-year-old paying, on average, 112% more than a 40-year-old pays for a Silver health plan.

Finding the best health insurance coverage in Maryland

The best health insurance coverage for you will depend on the availability of policies in your area as well as your medical and financial situation. Maryland has expanded Medicaid, which means households with income equal to or less than 138% of the federal poverty level can enroll in this federal health insurance program.

When searching for the most affordable health insurance, remember that the best plan for you depends on your medical needs and budget. Check the premiums and out-of-pocket expenses to decide what is best for your situation. Typically, if you expect moderate to high medical expenses, then you should select a higher metal tier that has more-expensive premiums but lower deductibles.

Gold and Platinum: Best if you have high medical costs

The cheapest Gold plan in Maryland is KP MD Gold Virtual Forward 2000.

Gold and Platinum are the highest tiers offered in Maryland. These plans have high premiums but lower deductibles and out-of-pocket maximums, and they can be the most cost-effective plans for people with high medical bills. You'll reach the deductible more quickly and begin paying coinsurance through your insurer. For example, say you require expensive monthly prescriptions; in this case, an upper metal tier plan would likely be the best choice.

Compare all tiers in Maryland above.

Silver: Best if you have a lower income or average medical costs

The cheapest Silver plan in Maryland is KP MD Silver Virtual Forward 4000.

We would recommend Silver plans in most situations because they have modest premiums, deductibles and out-of-pocket maximums. If you are very healthy, then a lower-tier plan, such as Bronze, may be a better option. But if you expect to have high medical costs, a Gold plan may be the best plan for you.

All the metal tier health plans offer premium tax credits, but Silver plans are eligible for cost-sharing reductions if your income meets the criteria for your household. This benefit reduces the amount you pay for deductibles, copays and coinsurance and can make a Silver health insurance policy the most cost-effective if you qualify.

Compare all tiers in Maryland above.

Bronze: Best if you are young and healthy

The cheapest Bronze plan in Maryland is KP MD Bronze 6900/0%/HSA/Vision.

Bronze metal tier plans are the cheapest policies offered in Maryland, and they're available for applicants of any age. Although these health insurance plans have the most affordable monthly costs, they have higher deductibles, which means you will need to spend more out of pocket before your provider pays for coinsurance.

Compare all tiers in Maryland above.

Short-term health insurance in Maryland

In Maryland, you can purchase short-term health insurance plans directly through private health providers. Maryland has restrictions on short-term policies including limiting coverage to three months and prohibiting renewals. This prevents you from using these policies for longer periods of time.

You may want to consider short-term health insurance if you missed open enrollment or lost employer-sponsored coverage. However, it is important to note that short-term policies do not cover the essential benefits like marketplace plans do.

Find Cheap Health Insurance Quotes in Your Area

Currently insured?

Health insurance companies in Maryland

There are currently three health insurance companies that sell policies in Maryland:

  • CareFirst
  • UnitedHealthcare
  • Kaiser Permanente

Kaiser Permanente offers the cheapest Silver health plan in most of the counties in Maryland. However, the availability of plans and providers will depend on the county in which you live. Therefore, it is important to recognize that the cheapest plan in your area may differ from the most affordable one in a different county.

Cheapest Silver health insurance plan by county

Depending on where you live, the pricing of insurance can vary, and in Baltimore, an individual could pay as little as $317 per month for a Silver health insurance plan.

County
Cheapest Plan
Age 40
Couple, Age 40
Allegany CountyUHC Silver Saver+ 6 Free Visits$335$671
Anne Arundel CountyKP MD Silver Virtual Forward 4000$317$634
Baltimore cityKP MD Silver Virtual Forward 4000$317$634
Baltimore CountyKP MD Silver Virtual Forward 4000$317$634
Calvert CountyKP MD Silver Virtual Forward 4000$317$634
Caroline CountyUHC Silver Saver+ 6 Free Visits$335$671
Carroll CountyKP MD Silver Virtual Forward 4000$317$634
Cecil CountyUHC Silver Saver+ 6 Free Visits$335$671
Charles CountyKP MD Silver Virtual Forward 4000$317$634
Dorchester CountyUHC Silver Saver+ 6 Free Visits$335$671
Frederick CountyKP MD Silver Virtual Forward 4000$317$634
Garrett CountyUHC Silver Saver+ 6 Free Visits$335$671
Show All Rows

Methodology

ValuePenguin obtained information about 2022 health insurance in Maryland from the state health insurance exchange. Using the premiums, we averaged the data and found the cheapest options for a variety of variables such as metal tier, age, 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.