Best Cheap Health Insurance in Nevada 2023
Best Cheap Health Insurance in Nevada 2023
Find Cheap Health Insurance Quotes in Nevada
Cheap health insurance plans in Nevada are available for purchase on the state health insurance marketplace, or coverage can be obtained through Medicaid if your household income falls below 138% of the federal poverty level. We analyzed all health insurance policies in the state and found the Ambetter Clear Silver is the cheapest Silver health plan in most Nevada counties. We also dug into the data to find the cheapest policies for Bronze and Gold tiers.
The average cost of health insurance in Nevada is $575 per month for a 40-year-old on a Silver plan.
Seven insurers in Nevada offer health policies, but only Anthem, Ambetter and Friday Health Plans are available in every county. Aetna, SelectHealth, Renown Health Plan and Health Plan of Nevada offer plans in a select set of regions.
Cheapest health insurance coverage by metal tier
To help you find the best health policy, we compared the health plans offered on the Nevada exchange and identified those with the cheapest premiums depending on the level of coverage. The table below shows the cheapest health insurance policy for each tier along with its deductible, out-of-pocket maximum and monthly cost for a 40-year-old.
Monthly cost (40-year-old)
|Bronze||MyHPN Select Network Bronze 1||$274||$8,700||$8,700|
|Silver||Clear Value Silver||$358||$5,400||$5,400|
|Gold||Everyday Value Gold||$428||$750||$7,500|
Health insurance in Nevada falls into three metal tiers: Bronze, Silver and Gold. As the table above shows, Gold tier plans have the highest premiums but lowest deductibles, while Bronze plans have cheap premiums and higher deductibles. For example, the premium for the cheapest Gold policy is 56% more expensive than the premium for the most affordable Bronze policy. But the deductible for the Gold plan is $7,950 less than the Bronze health plan's deductible.
A key factor in determining your health insurance cost is your age, as older individuals pay higher rates. In the graph below, we compiled the average cost of a health insurance policy depending on the metal tier and age of the applicant. A 40-year-old will pay about 28% more for coverage compared to a 21-year-old in the same tier. This difference between average premium amounts is even greater for a 60-year-old, who would pay about 112% more than a 40-year-old for the same coverage.
Finding the best health insurance coverage in Nevada
When choosing the best health insurance coverage for you in Nevada, consider your level of income and expected medical expenses during the year. Nevada has expanded its Medicaid program under the Affordable Care Act (ACA) to include people with a household income below 138% of the federal poverty level.
If you're not eligible for Medicaid, you may be able to purchase health insurance on the Nevada state exchange. Availability and pricing of health insurance plans will vary by the county you live in, but all counties offer Bronze, Silver and Gold policies. These tiers vary by their premium amounts, deductibles and out-of-pocket expenses.
Bronze plans: Best for healthy people
Bronze health insurance is the cheapest type of policy offered in the Nevada state marketplace. These plans have affordable premiums but high deductibles.
Bronze health plans are available to anyone and have low premiums with higher deductibles when compared to Silver and Gold plans. Bronze policies provide low-cost coverage and are best suited for healthy and younger individuals who do not expect to incur large medical costs throughout the year.
The cheapest Bronze plan in Nevada is the MyHPN Select Network Bronze 1, which costs as little as $274 per month for a 40-year-old. Compare all tiers in Nevada above.
Silver plans: Modest premiums and deductibles
Silver-tier health insurance plans are middle-ground policies with premiums and deductibles that fall between Gold and Bronze policies. For example, the average cost of a Silver plan for a 40-year-old is $575 in Nevada. This is $159 less than the average price for a Gold plan and $112 more than a Bronze policy.
You may be able to use premium tax credits with Gold, Silver and Bronze plans, but Silver policies also offer cost-sharing reductions. If your income falls below 250% of the federal poverty level, you would be eligible for cost-sharing reductions, which provide discounts on the cost of deductibles, copayments and coinsurance.
The cheapest Silver plan in Nevada is the Clear Value Silver — just note that the most affordable plan in your county may be different. Compare all tiers in Nevada above.
Gold plans: Best for large medical costs
Gold plans are best for people who are older or expect to incur a lot of medical expenses. These plans have the highest premium amounts but also the lowest deductibles, allowing you to save money if you need to use your health insurance frequently. For example, if you need prescription drugs or visit the doctor often, a Gold plan could be valuable, as a bigger portion of your medical costs would be covered by the policy.
The cheapest Gold plan in Nevada is the Everyday Value Gold with a $750 deductible — it costs $428 per month for a 40-year-old. Compare all tiers in Nevada above.
Short-term health insurance in Nevada
In Nevada, short-term health insurance can be bought through private health insurance providers outside of the state marketplace. This type of health insurance can be helpful in a situation where you miss open enrollment or lose employer-sponsored health care. However, short-term policies will typically not provide the same benefits as marketplace plans, including not covering essential benefits like maternity and mental health services.
Nevada differs from federal regulations for short-term health insurance plans and instead limits coverage periods to 185 days. Additionally, short-term policies cannot be renewed after the initial coverage period.
Find Cheap Health Insurance Quotes in Your Area
Best cheap health insurance companies in Nevada
The Nevada exchange has seven health insurance companies that offer coverage:
- Aetna Health of Utah Inc.
- Ambetter from SilverSummit HealthPlan
- Anthem Health
- Friday Health Plans
- Health Plan of Nevada
- Renown Health Plan
All plans are not available in every county, though. In most Nevada counties, the cheapest Silver plan is offered by Ambetter. Anthem offers the most affordable Silver plan in certain regions, such as Carson City and Douglas County.
Cheapest Silver plan by county
Your county of residence will play a large role in the plans offered and the cost of those health insurance policies. For example, the Clear Silver plan, the cheapest Silver option in most counties of Nevada, costs $531 per month for a 40-year-old in Lincoln County, but the cheapest plan in Nye County is the Clear Value Silver and costs $358 per month.
Monthly cost (age 40)
|Carson||Anthem Silver X HMO 4200 $0 Select Drugs||$588|
|Clark||Clear Value Silver||$358|
|Douglas||Anthem Silver X HMO 4200 $0 Select Drugs||$588|
|Lyon||Anthem Silver X HMO 4200 $0 Select Drugs||$588|
ValuePenguin gathered health insurance rates and plan details from Nevada's state health insurance exchange, Nevada Health Link. Using this information, we calculated average rates across each county, by age and by metal tier.
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