The cheapest Silver health insurance plan in New Hampshire for most people is the Anthem Silver Pathway X Enhanced HMO 6300 30, which is the most affordable Silver plan available in all but one county. If you live in Carroll County, the cheapest Silver plan is the Anthem Silver Pathway X Enhanced HMO 20 for HSA.

Although this is the cheapest Silver plan, the most cost-effective plan for you will depend on your health, location, age and financial situation.

In New Hampshire, residents can find affordable health insurance that fits their needs on the state health insurance exchange.

Cheapest health insurance by metal tier

There are five plan tiers to choose from in New Hampshire — Catastrophic, Bronze, Expanded Bronze, Silver and Gold. In the table below, we identify the cheapest health insurance plan in the state for each coverage tier alongside its sample rates and coverage terms. You can use the analysis below to compare the different costs and benefits of each metal tier.

For example, the Anthem Silver Pathway X Enhanced HMO 20 for HSA is the cheapest Silver plan, and it comes with a monthly premium of $305 for a 40-year-old and a deductible of $4,600. On the other hand, the monthly premium for the cheapest Gold plan, the Anthem Gold Pathway X Enhanced HMO 1500 15, is $369. That plan has a much lower deductible of $1,500.

Metal tier is an important factor when it comes to the cost of your health insurance. As you can see from the table above, monthly premiums, deductibles and maximum out-of-pocket costs vary significantly across tiers.

Choosing the metal tier that best suits your medical and financial situation plays an important part in the cost-effectiveness of your plan.

As you can see in the chart below, whichever coverage tier you choose, your health insurance rates increase as you get older. For example, a 60-year-old in New Hampshire pays 112% more each month on average for a Silver plan than a 40-year-old.

Finding your best health insurance coverage in New Hampshire

Choosing the right tier of coverage for you depends on your health and financial situation. Higher metal tier health plans, like Gold plans, typically have the most expensive premiums but affordable out-of-pocket expenses, like deductibles, copays and coinsurance.

This means if you have high recurring medical costs that arise from a chronic condition or think you may need medical care in the future, a higher metal tier plan may be the best health insurance option for you.

On the other hand, if you are young, healthy and have no expected medical costs — and can cover the higher cost-sharing — a lower metal tier policy may be the right choice for you.

Gold plans: best for high expected medical costs

If you use or expect to use your insurance often, Gold health insurance plans are typically the most cost-effective since they have the lowest out-of-pocket costs. If you use your insurance often, the lower deductibles and copays can balance out the expensive monthly premiums.

Ultimately, Gold plans are best if you have high expected medical costs, such as chronic conditions that require regular medical attention, or if you are concerned about being able to pay out of pocket for an unexpected condition.

The average monthly premium of a Gold plan in New Hampshire is 16% higher than the average monthly premium of a Silver plan for a 40-year-old. However, Gold plans cover about 80% of your health care costs versus the 70% Silver plans typically cover.

The cheapest Gold plan in New Hampshire is the Anthem Gold Pathway X Enhanced HMO 1500 15. Compare all tiers in New Hampshire above.

Silver plans: best for those with low incomes or average medical costs

Silver plans are a good health insurance option for those looking for a balance between costs and benefits. Although these health plans appear to have a higher monthly premium than Bronze plans while offering similar benefits, Silver policies qualify for cost-sharing reduction (CSR) subsidies, which may lower your out-of-pocket costs if your income qualifies.

To qualify for CSR subsidies with a Silver health plan, you must be part of a lower-income household. You may also qualify for premium tax credits, which also depend on your level of income, to lower your monthly premium. Typical Silver plans cover about 70% of your health care costs, while you pay 30%, but under CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.

The cheapest Silver plan in New Hampshire is the Anthem Silver Pathway X Enhanced HMO 20 for HSA. Compare all tiers in New Hampshire above.

Bronze and Catastrophic plans: best for young, healthy people

Catastrophic and Bronze plans typically have lower premiums compared to Silver and Gold plans. However, you must be under 30 years old or qualify for an exemption to purchase a Catastrophic plan. You also cannot use a premium tax credit to reduce the cost of a Catastrophic plan.

These cheap policies come with reduced coverage, meaning higher out-of-pocket costs. So, if you need medical care during the year, you would have to pay more money yourself in deductibles and copays before the policy would provide coverage.

We don't recommend Bronze or Catastrophic policies unless you can afford the higher deductibles, copays and coinsurance in case of a medical emergency.

The cheapest Bronze plan in New Hampshire is the Anthem Bronze Pathway X Enhanced HMO 6500 40. The cheapest Catastrophic plan is the Anthem Catastrophic Pathway X Enhanced HMO 8700. Compare all tiers in New Hampshire above.

Health insurance rate changes in New Hampshire

Health insurance premiums, deductibles and out-of-pocket maximums are adjusted annually by insurance providers and then sent for approval to federal regulators. Therefore, it is important to recognize these changes when choosing your health insurance and budgeting for the coming year.

For 2022, Catastrophic health insurance policies experienced the largest increase in pricing — increasing 10% from 2021. Silver and Gold plans were the only metal tiers that saw a decrease in average premiums during this time period.

Health insurance companies in New Hampshire

There are three health insurance companies on the New Hampshire state exchange: Anthem Blue Cross Blue Shield, Celtic Insurance Company/Ambetter and Harvard Pilgrim Health Care.

Cheapest health insurance plans by county

The cheapest Silver health insurance plan in all but one county in New Hampshire is the Anthem Silver Pathway X Enhanced HMO 6300 30, but you should still do some comparison shopping to see the different costs and benefits of each plan offered in your county.

Average cost of health insurance by family size in New Hampshire

In addition to the coverage tier, the size of your family and the ages of family members affect your monthly health insurance premium. As adult members of the plan age, monthly premiums are likely to increase annually. Families that insure children 15 years old and up should also expect an annual increase.

The average cost of a Silver health insurance policy for a family of three, assuming two 40-year-old parents and a child, is $937 in New Hampshire. For each additional child, the average cost of a policy increases by about $216. A family of four, assuming two adults and two children, costs an average of $1,152 per month to insure. On the other hand, an adult couple with no children would pay $721 on average for health insurance.

Methodology

Health insurance policy details in this report were compiled from the Centers for Medicare & Medicaid Services (CMS) government website. Using the Public Use Files (PUF), ValuePenguin calculated average values by metal tier, county and family size to provide a broad image of the health insurance marketplace in New Hampshire. Plans and providers for which county-level data was included in the CMS Crosswalk file were used in our analysis; those excluded from this dataset may not appear.