Health Insurance

Best Cheap Health Insurance in Mississippi 2021

Best Cheap Health Insurance in Mississippi 2021

Find Cheap Health Insurance Quotes in Mississippi

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For 2021, the average cost of health insurance across all metal tiers is $485 per month, which is 3% cheaper than it was in 2020.

The cheapest Silver health insurance for most people in Mississippi is the Ambetter Balanced Care 12. This is the most affordable Silver plan in 71% of the state's counties. Because rates change depending on location, people may also find cheap health insurance from the Constant Care Silver 2 — the most affordable Silver plan in the other 29% of counties in Mississippi.

Select a plan tier to learn more:

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. 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.

Metal tier
Cheapest plan
Deductible
Maximum out-of-pocket
Monthly cost for a 40-year-old
BronzeCore Care Bronze 2$8,000$8,550$397
Expanded BronzeAmbetter Essential Care 5 (2021)$8,100$8,500$392
SilverAmbetter Balanced Care 12 (2021)$6,500$8,400$419
GoldConfident Care Gold 1$2,925$6,500$527
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As you can see in the table above, policies in the higher metal tiers have higher monthly premiums with lower deductibles. The largest difference can be seen in the jump between Silver and Gold.

The Gold health plan's deductible is $3,575 less than the deductible of the Silver plan. But the premium for this Gold plan is more expensive by $108 per month. Silver plans are generally in the 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 $106 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 $548 more on average than a 40-year-old for the same policy.

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. The best health insurance for you will depend on your personal needs.

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 your out-of-pocket costs in the event that 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 prefer to pay more up front and less later when medical services are needed.

The cheapest Gold plan in Mississippi is the Confident Care Gold 1. Compare all tiers in Mississippi above.

Silver plans: Best for modest premiums and average coverage

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

While Bronze, Silver and Gold plans all have the ability to receive premium tax credits, Silver plans are eligible for extra cost-sharing 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.

The cheapest Silver plan in Mississippi is the Ambetter Balanced Care 12 (2021). Compare all tiers in Mississippi above.

Bronze plans: Best for young, healthy individuals

Bronze plans have the most affordable premiums and the 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.

The cheapest Bronze plan in Mississippi is the Core Care Bronze 2. Compare all tiers in Mississippi above.

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.

The cost of Expanded Bronze plans rose by 3% for 2021. On average, this is the only metal tier that is more expensive for the 2021 plan year than it was for 2020. Conversely, the cost of Bronze plans decreased by 9%, the largest price decrease among the state's metal tiers.

Metal tier
2020 premium
2021 premium
Change
Bronze$457$414-9%
Expanded Bronze$429$4423%
Silver$493$488-1%
Gold$608$597-2%

Premiums are for a 40-year-old adult.

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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 Affordable Care Act 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

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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. If it is available, the Ambetter Balanced Care 12 is most often the cheapest Silver plan for Mississippians.

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 rates for the cheapest Silver health insurance policies available by county, with sample prices depending on your family size.

County
Cheapest plan
Age 40
Couple, age 40
Couple, age 40 plus child
AdamsAmbetter Balanced Care 12 (2021)$464$928$1,159
AlcornAmbetter Balanced Care 12 (2021)$464$928$1,159
AmiteAmbetter Balanced Care 12 (2021)$464$928$1,159
AttalaAmbetter Balanced Care 12 (2021)$464$928$1,159
BentonConstant Care Silver 2$464$928$1,158
BolivarAmbetter Balanced Care 12 (2021)$464$928$1,159
CalhounAmbetter Balanced Care 12 (2021)$464$928$1,159
CarrollAmbetter Balanced Care 12 (2021)$464$928$1,159
ChickasawAmbetter Balanced Care 12 (2021)$464$928$1,159
ChoctawAmbetter Balanced Care 12 (2021)$464$928$1,159
ClaiborneAmbetter Balanced Care 12 (2021)$464$928$1,159
ClarkeAmbetter Balanced Care 12 (2021)$464$928$1,159
Show All Rows
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Care 12 (2021)","$464","$928","$1,159"],["Lincoln","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Lowndes","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Madison","Constant Care Silver 2","$459","$918","$1,146"],["Marion","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Marshall","Ambetter Balanced Care 12 (2021)","$419","$838","$1,046"],["Monroe","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Montgomery","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Neshoba","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Newton","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Noxubee","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Oktibbeha","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Panola","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Pearl River","Constant Care Silver 2","$466","$933","$1,165"],["Perry","Constant Care Silver 2","$466","$933","$1,165"],["Pike","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Pontotoc","Constant Care Silver 2","$464","$928","$1,158"],["Prentiss","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Quitman","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Rankin","Constant Care Silver 2","$459","$918","$1,146"],["Scott","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Sharkey","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Simpson","Constant Care Silver 2","$459","$918","$1,146"],["Smith","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Stone","Constant Care Silver 2","$449","$898","$1,122"],["Sunflower","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Tallahatchie","Ambetter Balanced Care 12 (2021)","$464","$928","$1,159"],["Tate","Ambetter Balanced Care 12 (2021)","$419","$838","$1,046"],["Tippah","Constant Care Silver 2","$464","$928","$1,158"],["Tishomingo","Ambetter Balanced Care 12 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Average cost of health insurance by family size in Mississippi

Health insurance costs vary depending on the size of your family, along with your age and the policy you choose. For example, the average monthly health insurance cost for a 40-year-old couple with a Silver health plan is $976 in Mississippi.

If you were to add one child to the policy, the cost would be $242 more expensive for the same plan. 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 size
Average monthly cost of health plan
Individual plus child$730
Couple, age 40$976
Family of three (adult couple and a child)$1,218
Family of four (adult couple and two children)$1,461
Family of five (adult couple and three children)$1,703

Adults are assumed to be 40 years old. Children are assumed to be 14 or younger. Sample rates are based on the average cost of a Silver plan in Mississippi.

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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 the 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.