Health Insurance

Best Cheap Health Insurance in Nevada 2020

Best Cheap Health Insurance in Nevada 2020

Find Cheap Health Insurance Quotes in Nevada

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Cheap health insurance plans in Nevada are available for purchase on the state health insurance marketplace or can be obtained through the government Medicaid plan if your household income falls below 138% of the federal poverty level. We analyzed all Silver health insurance policies in the state and found that the MyHPN Silver 9 is the cheapest health plan in every Nevada county. We also dug into the data to find the cheapest policies for Bronze and Gold tiers.

Select a plan tier to learn more:

Health policies are offered by three insurers in Nevada, Health Plan of Nevada Inc., Anthem Inc. and SilverSummit Healthplan Inc. (Ambetter), though Health Plan of Nevada isn't available in most counties.

Cheapest health insurance coverage by metal tier

To aid you in finding the best health policy, we have compared the health plans offered on the Nevada exchange and identified those with the cheapest policy premiums depending on the level of coverage. The table below shows the cheapest health insurance policy for each metal tier along with its deductible, out-of-pocket maximum and monthly cost for a 40-year-old.

Metal tierCheapest planDeductibleMaximum out-of-pocketMonthly cost for a 40-year-old
BronzeAnthem Bronze Pathway X Guided Access HMO 8150$8,150$8,150$292
SilverMyHPN Silver 9$6,900$8,150$337
GoldMyHPN Gold 5$1,750$7,900$441

Health insurance in Nevada is broken into three different metal tiers: Bronze, Silver and Gold. As the table above shows, plans in the Gold tier have the highest premiums but lowest deductibles, while Bronze plans have cheap premiums and higher deductibles. For example, the premium for the Gold policy is 62% more expensive than the premium for the Bronze policy. But the deductible for the Gold plan is $6,400 less than that of the Bronze health plan.

A key factor in determining your health insurance cost is your age, as older individuals pay higher rates. In the graph below, we have compiled the average cost of a health insurance policy depending on the metal tier and age of the applicant. As you can see, a 40-year-old will pay about 28% more for coverage in the same metal tier compared to a 21-year-old. This difference between average premium amounts is even larger for a 60-year-old, who would pay about 171% more than a 40-year-old for the same coverage.

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

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, then you can purchase health insurance on the Nevada state exchange. Availability and pricing of health insurance plans will vary depending on your county of residence, but all counties offer Bronze, Silver and Gold metal 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 a large deductible.

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 Anthem Bronze Pathway X Guided Access HMO 8150. Compare all tiers in Nevada above.

Silver plans: Modest premiums and deductible

Silver-tier health insurance plans are a middle-ground policy 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 $560 in Nevada. This is $136 less than the average price for a Gold plan and $78 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, then you would be eligible to use cost-sharing reductions, which provide discounts on the cost of deductibles, copayments and coinsurance.

The cheapest Silver plan in Nevada is MyHPN Silver 9. Compare all tiers in Nevada above.

Gold plans: Best for large medical cost coverage

Gold plans are best for those who are older or expect to incur a lot of medical expenses. These plans have the highest premium amount but also the lowest deductibles, allowing you to save money if you need to use your health insurance frequently. For example, someone who needs prescription drugs or visits their doctor often would find a Gold metal plan valuable, as a larger portion of their medical costs would be covered by the policy.

The cheapest Gold plan in Nevada is MyHPN Gold 5. 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 useful in the situation 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 less than six months. Additionally, short-term policies cannot be renewed after the initial coverage period.

Find Cheap Health Insurance Quotes in Your Area

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Best cheap health insurance companies in Nevada

The Nevada exchange has three health insurance companies that offer coverage: Health Plan of Nevada Inc. ,SilverSummit Healthplan Inc. and Anthem Inc. However, in most counties, only SilverSummit health plans are available. The only counties that offer policies from all three insurance providers are Clark, Nye and Washoe.

Cheapest Silver plan by county

Your county of residence will play a large part in the plans offered and the cost of those health insurance policies. For example, the MyHPN Silver 9, the cheapest Silver plan in all counties of Nevada, costs $336.84 per month for a 40-year-old in White Pine County, compared to $336.84 per month for the same person living in Nye County. Below you can see the cost for the cheapest Silver health insurance plans in Nevada by county, with rates for an adult aged 40, a couple and a couple with a child.

CountyCheapest PlanAge 40Couple, Age 40
Clark CountyMyHPN Silver 9$337$674
Lincoln CountyAnthem Silver Pathway X HMO 4500$653$1,306
Nye CountyMyHPN Silver 9$337$674
Esmeralda CountyAnthem Silver Pathway X HMO 4500$653$1,306
White Pine CountyAnthem Silver Pathway X HMO 4500$653$1,306
Lander CountyAnthem Silver Pathway X HMO 4500$653$1,306
Eureka CountyAnthem Silver Pathway X HMO 4500$653$1,306
Washoe CountyAmbetter Essential Care 2 HSA (2020)$437$874
Lyon CountyAnthem Silver Pathway X HMO 4500$542$1,084
Humboldt CountyAnthem Silver Pathway X HMO 4500$653$1,306
Churchill CountyAnthem Silver Pathway X HMO 4500$653$1,306
Douglas CountyAnthem Silver Pathway X HMO 4500$542$1,084
Mineral CountyAnthem Silver Pathway X HMO 4500$653$1,306
Pershing CountyAnthem Silver Pathway X HMO 4500$653$1,306
Storey CountyAnthem Silver Pathway X HMO 4500$542$1,084
Carson CityAnthem Silver Pathway X HMO 4500$542$1,084
Elko CountyAnthem Silver Pathway X HMO 4500$653$1,306
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.