Best Cheap Health Insurance in Mississippi 2020
Find Cheap Health Insurance Quotes in Mississippi
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 tier | Cheapest plan | Deductible | Maximum out-of-pocket | Monthly cost for a 40-year-old |
|---|---|---|---|---|
| Bronze | Core Care Bronze 2 | $8,000 | $8,150 | $425 |
| Expanded Bronze | Ambetter Essential Care 5 (2020) | $7,100 | $8,150 | $377 |
| Silver | Ambetter Balanced Care 11 (2020) | $6,000 | $8,100 | $399 |
| Gold | Ambetter 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.
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 tier | 2018 premium | 2020 premium | % change |
|---|---|---|---|
| Bronze | $449 | $457 | 1.73% |
| Silver | $497 | $493 | -0.75% |
| Gold | $627 | $608 | -2.96% |
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
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.
| County | Cheapest plan | Age 40 | Couple, age 40 | Couple, age 40 + child |
|---|---|---|---|---|
| Adams | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Alcorn | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Amite | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Attala | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Benton | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Bolivar | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Calhoun | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Carroll | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Chickasaw | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Choctaw | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Claiborne | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Clarke | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Clay | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Coahoma | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Copiah | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Covington | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Desoto | Ambetter Balanced Care 11 (2020) | $399 | $798 | $996 |
| Forrest | Constant Care Silver 2 | $464 | $929 | $1,159 |
| Franklin | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| George | Ambetter Balanced Care 11 (2020) | $487 | $975 | $1,217 |
| Greene | Ambetter Balanced Care 11 (2020) | $476 | $952 | $1,188 |
| Grenada | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Hancock | Ambetter Balanced Care 11 (2020) | $487 | $975 | $1,217 |
| Harrison | Ambetter Balanced Care 11 (2020) | $487 | $975 | $1,217 |
| Hinds | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Holmes | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Humphreys | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Issaquena | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Itawamba | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Jackson | Ambetter Balanced Care 11 (2020) | $487 | $975 | $1,217 |
| Jasper | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Jefferson | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Jefferson Davis | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Jones | Constant Care Silver 2 | $464 | $929 | $1,159 |
| Kemper | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lafayette | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lamar | Constant Care Silver 2 | $464 | $929 | $1,159 |
| Lauderdale | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lawrence | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Leake | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lee | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Leflore | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lincoln | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Lowndes | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Madison | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Marion | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Marshall | Ambetter Balanced Care 11 (2020) | $399 | $798 | $996 |
| Monroe | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Montgomery | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Neshoba | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Newton | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Noxubee | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Oktibbeha | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Panola | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Pearl River | Constant Care Silver 2 | $464 | $929 | $1,159 |
| Perry | Ambetter Balanced Care 11 (2020) | $476 | $952 | $1,188 |
| Pike | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Pontotoc | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Prentiss | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Quitman | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Rankin | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Scott | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Sharkey | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Simpson | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Smith | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Stone | Ambetter Balanced Care 11 (2020) | $487 | $975 | $1,217 |
| Sunflower | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Tallahatchie | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Tate | Ambetter Balanced Care 11 (2020) | $399 | $798 | $996 |
| Tippah | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Tishomingo | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Tunica | Ambetter Balanced Care 11 (2020) | $399 | $798 | $996 |
| Union | Ambetter Balanced Care 11 (2020) | $471 | $942 | $1,177 |
| Walthall | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Warren | Ambetter Balanced Care 11 (2020) | $445 | $890 | $1,111 |
| Washington | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Wayne | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Webster | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Wilkinson | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Winston | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Yalobusha | Ambetter Balanced Care 11 (2020) | $442 | $884 | $1,103 |
| Yazoo | Ambetter 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 size | Average 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 |
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 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.