Find the Cheapest Health Insurance Quotes in Your Area
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 Ambetter Balanced Care 4 is the cheapest health plan in every Nevada county. Health policies are offered by two insurers in Nevada, Health Plan of Nevada 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 tier||Cheapest plan||Deductible||Out-of-pocket maximum||Monthly cost for 40-year-old|
|Catastrophic||MyHPN Catastrophic Plan||$7,350||$7,350||$256.78|
|Bronze||MyHPN Bronze 10||$6,000||$7,350||$301.62|
|Expanded Bronze||MyHPN Bronze 8||$6,600||$7,350||$291.02|
|Silver||Ambetter Balanced Care 4||$7,050||$7,050||$364.70|
|Gold||MyHPN Gold 5||$3,000||$7,350||$415.58|
Health insurance in Nevada is broken into five different metal tiers: Catastrophic, Bronze, Expanded Bronze, Silver and Gold. As the table above shows, plans in the Gold tier have the highest premiums but lowest deductibles, while Catastrophic and 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 Catastrophic policy. But, the deductible for the Gold plan is $4,350 less than that of the Catastrophic 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.
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. Some counties also offer a Catastrophic plan, which you can purchase if you meet certain age or hardship requirements.
Catastrophic and Bronze Plans: Best for Healthy People
Catastrophic health insurance is the cheapest type of policy offered in the Nevada state marketplace. These plans have affordable premiums but a large deductible. Catastrophic plans differ from other metal tiers because only certain people qualify for them. You may be eligible for a Catastrophic policy if you are under the age of 30 or are eligible for an exemption.
Bronze and Expanded Bronze health plans are available to anyone and are very similar to Catastrophic plans in that they 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.
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.
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.
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 healthcare. 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 the Cheapest Health Insurance Quotes in Your Area
Best Cheap Health Insurance Companies in Nevada
The Nevada exchange has two health insurance companies that offer coverage: Health Plan of Nevada Inc. and SilverSummit Healthplan Inc. However, in most counties, only SilverSummit health plans are available. The only counties that offer policies from both Health Plan of Nevada and SilverSummit 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 Ambetter Balanced Care 4, the cheapest silver plan in all counties of Nevada, costs $643 per month for a 40-year-old in White Pine County, compared to $365 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.
|County||Cheapest Silver plan||Single adult, age 40||Couple, age 40||Couple, age 40, and child|
|Carson City||Ambetter Balanced Care 4||$641||$1,283||$1,666|
|Churchill||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Clark||Ambetter Balanced Care 4||$365||$729||$948|
|Douglas||Ambetter Balanced Care 4||$641||$1,283||$1,666|
|Elko||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Esmeralda||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Eureka||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Humboldt||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Lander||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Lincoln||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Lyon||Ambetter Balanced Care 4||$641||$1,283||$1,666|
|Mineral||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Nye||Ambetter Balanced Care 4||$365||$729||$948|
|Pershing||Ambetter Balanced Care 4||$643||$1,285||$1,670|
|Storey||Ambetter Balanced Care 4||$641||$1,283||$1,666|
|Washoe||Ambetter Balanced Care 4||$504||$1,007||$1,309|
|White Pine||Ambetter Balanced Care 4||$643||$1,285||$1,670|
Average Cost of Health Insurance by Family Size in Nevada
The size of your family will change premium costs along with your age and county of residence. For example, the average policy for a family of three, with an adult couple and a child, would be 30% more expensive in Nevada than a policy that covers just a couple. The cost of adding one 40-year-old to a health plan is $560, whereas adding a child under the age of 15 costs just $335.
The table below shows the average cost of health insurance depending on the number of people in the family who are covered by the policy. As you can see, the more people covered by the policy, the more expensive the premiums will be for that coverage.
|Family size||Average monthly cost of health plan|
|Family of three (adult couple and a child)||$1,456|
|Family of four (adult couple and two children)||$1,792|
|Family of five (adult couple and three children)||$2,127|