Health Insurance

Best Cheap Health Insurance in Nevada 2021

Best Cheap Health Insurance in Nevada 2021

The average cost of health insurance in Nevada is $603 per month for a 40-year-old.

Find Cheap Health Insurance Quotes in Nevada

Currently insured?

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 Anthem Silver Pathway X HMO 6900 is the cheapest health plan in most Nevada counties. 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 five insurers in Nevada: Health Plan of Nevada Inc., Anthem Inc., Friday Health Plans Inc., SelectHealth Inc. and SilverSummit Healthplan Inc. (Ambetter) — although 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 tier
Cheapest plan
Deductible
Maximum out of pocket
Monthly cost for a 40-year-old
BronzeFriday Bronze Plus$8,550$8,550$254
SilverFriday Silver$5,500$8,550$352
GoldFriday Gold$2,300$8,250$430

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 cheapest Gold policy is 40% more expensive than the premium for the most affordable Bronze policy. But the deductible for the Gold plan is $6,250 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 compared to a 21-year-old in the same metal tier. This difference between average premium amounts is even larger for a 60-year-old, who would pay about 112% more than a 40-year-old for the same coverage.

Average cost of health insurance in Nevada by metal tier

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 large 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 Friday Bronze Plus. 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 $603 in Nevada. This is $115 less than the average price for a Gold plan and $135 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 Friday Silver. 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 amounts 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 Friday Gold. 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 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 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 five health insurance companies that offer coverage: Health Plan of Nevada Inc. ,SilverSummit Healthplan Inc., Anthem Inc., Friday Health Plans and Select Health. All plans are not available in every county, though. In most cases, the cheapest for most people was from Anthem.

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 Anthem Silver Pathway X HMO 6900 plan, the cheapest Silver option in most counties of Nevada, costs $632 per month for a 40-year-old in Lincoln County, compared to $524 per month for the same person living in Lyon 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 and a couple.

County
Cheapest Plan
Age 40
Couple, Age 40
ClarkFriday Silver$352$705
LincolnAnthem Silver Pathway X HMO 6900$1,264
NyeFriday Silver$352$705
EsmeraldaAnthem Silver Pathway X HMO 6900$632$1,264
White PineAnthem Silver Pathway X HMO 6900$632$1,264
LanderAnthem Silver Pathway X HMO 6900$632$1,264
EurekaAnthem Silver Pathway X HMO 6900$632$1,264
WashoeAnthem Silver Pathway X Guided Access HMO 6900$439$877
LyonAnthem Silver Pathway X HMO 6900$524$1,048
HumboldtAnthem Silver Pathway X HMO 6900$632$1,264
ChurchillAnthem Silver Pathway X HMO 6900$632$1,264
DouglasAnthem Silver Pathway X HMO 6900$524$1,048
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Methodology

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 counties, by age and by metal tier.

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.