Health Insurance

Best Cheap Health Insurance in Mississippi 2020

Find Cheap Health Insurance Quotes in Mississippi

Currently insured?
{"id":7,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"buttonText":"MS Quotes","customEventLabel":"","defaultZip":"","defaultProduct":"health","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-health-insurance-mississ","tier":"default","title":"Find Cheap Health Insurance Quotes in Mississippi","vendor":"vp","style":null}

Cheap health insurance in the state of Mississippi can be purchased through the state health insurance exchange, though some individuals will qualify for Medicaid coverage.

For 2020, the average cost of health insurance for a 40-year-old is $500 per month. When compared to 2018, this is nearly a 3% decrease in the rate.

To help you choose your best health insurance, we evaluated all Mississippi plans and found that in the majority of counties, the Ambetter Balanced Care 11 is the cheapest policy you can purchase. There are currently two health insurance companies that operate in Mississippi: Ambetter of Magnolia and Molina Healthcare.

Cheapest health insurance coverage by metal tier

To help you find the most affordable rates, we compared policies in different metal tiers in the state of Mississippi to identify the most affordable health insurance plan in each category. The insurance policies available to you will depend primarily on the county in which you live.

This list should only be used as a starting point to assess your health insurance needs and coverage requirements. For example, the Ambetter Balanced Care 11 plan has a deductible of $6,000 and monthly premium of $399. But, you may decide you want a cheaper option like the Ambetter Essential Care 5, which has a premium of $377.

Metal tierCheapest planDeductibleMaximum out-of-pocketMonthly cost for a 40-year-old
BronzeCore Care Bronze 2$8,000$8,150$425
Expanded BronzeAmbetter Essential Care 5 (2020)$7,100$8,150$377
SilverAmbetter Balanced Care 11 (2020)$6,000$8,100$399
GoldAmbetter Secure Care 5 (2020)$1,250$5,900$540

As you can see in the table above, policies in the higher metal tiers have larger monthly premiums with smaller deductibles. The largest difference can be seen in the jump between Silver and Gold.

The Gold health plan's deductible is $4,750 less than the deductible of the Silver plan. But, the premium for this Gold plan is more expensive by $141. Silver plans are generally middle of the pack: They have modest premiums and reasonable deductibles. But the cost of your own health insurance will also depend on the county in which you live and your age.

As you can see in the graph below, a 40-year-old will pay $107 more on average per month on premiums when compared to a 21-year-old for the same coverage. Age begins to affect premiums even more as you get older. For example, a 60-year-old will pay $554 more on average than a 40-year-old for the same policy.

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

Finding your best health insurance coverage in Mississippi

Mississippi has not expanded its Medicaid program, but if your household family income falls below 133% of the federal poverty level, you may be eligible for Medicaid coverage. If you do not meet this requirement, then determining the most affordable Mississippi health insurance will largely depend on your income, expected expenses and the county in which you live.

Within a given county, the health insurance marketplace will offer plans in the Bronze, Silver or Gold metal tiers.

Gold plans: Best if you expect high medical costs

Gold plans cost the most but are typically the best if you expect to have a lot of medical expenses. They have high monthly premiums but low deductibles, which reduce the out-of-pocket costs you'll pay in the event you need treatment.

This can be helpful if you rely on prescription drugs, which tend to be a costly expense throughout the year. Gold health plans are also great for people who would prefer to pay more upfront and less later when medical services are needed.

Silver plans: Best for modest premiums and average coverage

Silver level plans are a good middle-of-the-pack policy when compared to the Gold and Bronze tiers. The plans have average premiums and health coverage.

While all plans have the ability to receive premium tax credits, Silver plans are eligible for extra cost-saving reductions for low-income people. If your income falls below 250% of the federal poverty level, then you may be eligible for these discounts, which can be put toward reducing deductibles, copayments and coinsurance.

Bronze plans: Best for young, healthy individuals

Bronze plans have the most affordable premiums and highest out-of-pocket costs. These plans are usually best for younger individuals who are in great health. In particular, bronze plans can be a good choice if you expect to use few medical services and still want protection from high medical costs in the case of a medical emergency. Although a Bronze health plan can have relatively cheap rates, the deductible level could mean paying a lot out of pocket.

Health insurance rate changes in Mississippi

In Mississippi, health insurance premiums, deductibles and out-of-pocket maximums are updated annually by insurance providers and then approved by federal regulators.

For the 2020 plan year, Gold metal plans decreased by close to 3% when compared to the premium in 2018. Conversely, Bronze tier plans increased by $8 over the same period.

Metal tier2018 premium2020 premium% change
Bronze$449$4571.73%
Silver$497$493-0.75%
Gold$627$608-2.96%
2018 and 2020 premiums are for a 40-year-old adult.

Short-term health insurance in Mississippi

Short-term health insurance can be purchased through the private marketplace at any time during the year. You may want to consider looking at one of these plans if you missed open enrollment or lost coverage through an employer-sponsored health plan. However, you should note that these plans do not cover all the same benefits as a qualified Obamacare plan.

In Mississippi, short-term plans follow the federal guidelines for health insurance. This allows short-term policies to provide coverage for up to one year and be renewable for up to 36 months.

Find Cheap Health Insurance Quotes in Your Area

Currently insured?
{"id":8,"isAgeFieldVisible":true,"isInsuranceTypeFieldVisible":true,"isInsuredStatusFieldVisible":true,"buttonText":"Find Insurers","customEventLabel":"","defaultZip":"","defaultProduct":"health","quoteWizardEndpoint":"https:\/\/quotes.valuepenguin.com","trackingKey":"_best-cheap-health-insurance-mississ","tier":"default","title":"Find Cheap Health Insurance Quotes in Your Area","vendor":"vp","style":null}

Best cheap health insurance companies in Mississippi

Ambetter of Magnolia and Molina Healthcare of Mississippi are the only two health insurance providers in Mississippi. However, Ambetter of Magnolia tends to dominate the state for having the cheapest rates around for Expanded Bronze, Silver and Gold plans. For a cheap plan, if it is available, the Core Care Bronze from Molina would be the best option.

Cheapest health insurance plan by county

Silver health plans offer average premiums and cost-sharing requirements, but policy premiums will vary depending on the county in which you live. For your convenience, we have listed quotes for the cheapest Silver health insurance policies available by county, with sample prices depending on your family size.

CountyCheapest planAge 40Couple, age 40Couple, age 40 + child
AdamsAmbetter Balanced Care 11 (2020)$442$884$1,103
AlcornAmbetter Balanced Care 11 (2020)$442$884$1,103
AmiteAmbetter Balanced Care 11 (2020)$442$884$1,103
AttalaAmbetter Balanced Care 11 (2020)$442$884$1,103
BentonAmbetter Balanced Care 11 (2020)$471$942$1,177
BolivarAmbetter Balanced Care 11 (2020)$442$884$1,103
CalhounAmbetter Balanced Care 11 (2020)$442$884$1,103
CarrollAmbetter Balanced Care 11 (2020)$442$884$1,103
ChickasawAmbetter Balanced Care 11 (2020)$442$884$1,103
ChoctawAmbetter Balanced Care 11 (2020)$442$884$1,103
ClaiborneAmbetter Balanced Care 11 (2020)$442$884$1,103
ClarkeAmbetter Balanced Care 11 (2020)$442$884$1,103
ClayAmbetter Balanced Care 11 (2020)$442$884$1,103
CoahomaAmbetter Balanced Care 11 (2020)$442$884$1,103
CopiahAmbetter Balanced Care 11 (2020)$445$890$1,111
CovingtonAmbetter Balanced Care 11 (2020)$442$884$1,103
DesotoAmbetter Balanced Care 11 (2020)$399$798$996
ForrestConstant Care Silver 2$464$929$1,159
FranklinAmbetter Balanced Care 11 (2020)$442$884$1,103
GeorgeAmbetter Balanced Care 11 (2020)$487$975$1,217
GreeneAmbetter Balanced Care 11 (2020)$476$952$1,188
GrenadaAmbetter Balanced Care 11 (2020)$442$884$1,103
HancockAmbetter Balanced Care 11 (2020)$487$975$1,217
HarrisonAmbetter Balanced Care 11 (2020)$487$975$1,217
HindsAmbetter Balanced Care 11 (2020)$445$890$1,111
HolmesAmbetter Balanced Care 11 (2020)$442$884$1,103
HumphreysAmbetter Balanced Care 11 (2020)$442$884$1,103
IssaquenaAmbetter Balanced Care 11 (2020)$442$884$1,103
ItawambaAmbetter Balanced Care 11 (2020)$471$942$1,177
JacksonAmbetter Balanced Care 11 (2020)$487$975$1,217
JasperAmbetter Balanced Care 11 (2020)$442$884$1,103
JeffersonAmbetter Balanced Care 11 (2020)$442$884$1,103
Jefferson DavisAmbetter Balanced Care 11 (2020)$442$884$1,103
JonesConstant Care Silver 2$464$929$1,159
KemperAmbetter Balanced Care 11 (2020)$442$884$1,103
LafayetteAmbetter Balanced Care 11 (2020)$442$884$1,103
LamarConstant Care Silver 2$464$929$1,159
LauderdaleAmbetter Balanced Care 11 (2020)$442$884$1,103
LawrenceAmbetter Balanced Care 11 (2020)$442$884$1,103
LeakeAmbetter Balanced Care 11 (2020)$442$884$1,103
LeeAmbetter Balanced Care 11 (2020)$471$942$1,177
LefloreAmbetter Balanced Care 11 (2020)$442$884$1,103
LincolnAmbetter Balanced Care 11 (2020)$442$884$1,103
LowndesAmbetter Balanced Care 11 (2020)$442$884$1,103
MadisonAmbetter Balanced Care 11 (2020)$445$890$1,111
MarionAmbetter Balanced Care 11 (2020)$442$884$1,103
MarshallAmbetter Balanced Care 11 (2020)$399$798$996
MonroeAmbetter Balanced Care 11 (2020)$442$884$1,103
MontgomeryAmbetter Balanced Care 11 (2020)$442$884$1,103
NeshobaAmbetter Balanced Care 11 (2020)$442$884$1,103
NewtonAmbetter Balanced Care 11 (2020)$442$884$1,103
NoxubeeAmbetter Balanced Care 11 (2020)$442$884$1,103
OktibbehaAmbetter Balanced Care 11 (2020)$442$884$1,103
PanolaAmbetter Balanced Care 11 (2020)$442$884$1,103
Pearl RiverConstant Care Silver 2$464$929$1,159
PerryAmbetter Balanced Care 11 (2020)$476$952$1,188
PikeAmbetter Balanced Care 11 (2020)$442$884$1,103
PontotocAmbetter Balanced Care 11 (2020)$471$942$1,177
PrentissAmbetter Balanced Care 11 (2020)$442$884$1,103
QuitmanAmbetter Balanced Care 11 (2020)$442$884$1,103
RankinAmbetter Balanced Care 11 (2020)$445$890$1,111
ScottAmbetter Balanced Care 11 (2020)$442$884$1,103
SharkeyAmbetter Balanced Care 11 (2020)$442$884$1,103
SimpsonAmbetter Balanced Care 11 (2020)$445$890$1,111
SmithAmbetter Balanced Care 11 (2020)$442$884$1,103
StoneAmbetter Balanced Care 11 (2020)$487$975$1,217
SunflowerAmbetter Balanced Care 11 (2020)$442$884$1,103
TallahatchieAmbetter Balanced Care 11 (2020)$442$884$1,103
TateAmbetter Balanced Care 11 (2020)$399$798$996
TippahAmbetter Balanced Care 11 (2020)$471$942$1,177
TishomingoAmbetter Balanced Care 11 (2020)$442$884$1,103
TunicaAmbetter Balanced Care 11 (2020)$399$798$996
UnionAmbetter Balanced Care 11 (2020)$471$942$1,177
WalthallAmbetter Balanced Care 11 (2020)$442$884$1,103
WarrenAmbetter Balanced Care 11 (2020)$445$890$1,111
WashingtonAmbetter Balanced Care 11 (2020)$442$884$1,103
WayneAmbetter Balanced Care 11 (2020)$442$884$1,103
WebsterAmbetter Balanced Care 11 (2020)$442$884$1,103
WilkinsonAmbetter Balanced Care 11 (2020)$442$884$1,103
WinstonAmbetter Balanced Care 11 (2020)$442$884$1,103
YalobushaAmbetter Balanced Care 11 (2020)$442$884$1,103
YazooAmbetter Balanced Care 11 (2020)$442$884$1,103

Average cost of health insurance by family size in Mississippi

Health insurance costs tend to vary depending on the size of your family, along with your age and the policy you choose. For example, the monthly health insurance cost for a 40-year-old couple with a Silver health plan is $987 in Mississippi.

If you were to add one child to the policy, the cost would be 25% more expensive for the same plan. A family of three would pay $245 more per month for health coverage. In the table below, we break down the average cost of a health insurance plan in Mississippi depending on the size of your family.

Family sizeAverage monthly cost of health plan
Individual + child$738
Couple, age 40$987
Family of three (adult couple and a child)$1,232
Family of four (adult couple and two children)$1,477
Family of five (adult couple and three children)$1,722
Adults are assumed to be 40 years old. Sample rates are based on the average cost for a Silver plan in Mississippi.

Methodology

Health insurance rates, deductibles and out-of-pocket maximums in this report were compiled from the Centers for Medicaid & Medicare Services government website. Using Public Use Files (PUF), ValuePenguin calculated average values by county, metal tier and family size to better understand the health insurance marketplace in Mississippi.

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.