Best Cheap Health Insurance in New York for 2024

Best and cheapest health insurance in New York

Cheapest health insurance companies in New York

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Affordable health plans in NY

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Best health insurance companies in New York

Highmark has a perfect rating of 5 stars from HealthCare.gov. These ratings measure factors like customer satisfaction, quality of care and plan management.

As a Blue Cross Blue Shield (BCBS) company, Highmark gives its customers access to the largest network of doctors in the country.

Best-rated health insurance companies in New York

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However, these companies have small networks of doctors, so you'll have a limited selection. In addition, only 8% of the people who live in New York can get Independent Health. Only 17% of the New York population can get CDPHP.

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How much does health insurance cost in New York?

More than seven out of 10 New Yorkers who shop for health insurance on the NY health exchange get a discount. The size of your discount depends on how much you earn and the number of people in your household.

Health insurance costs an average of $873 per month in New York if you don't qualify for discounts.

Platinum and Gold plans have expensive monthly rates, but you pay less when you visit the doctor or get a prescription filled. Bronze plans have cheap monthly rates and high costs when you get medical care.

Silver health plans have middle-of-the-road rates and costs when you see the doctor. That makes Silver plans best for most people who have average medical needs.

Cheap New York health insurance plans by city

MetroPlus has the most affordable plans in all five NYC boroughs. Outside of New York City, Fidelis Care has the cheapest rates in other large New York cities like Buffalo, Yonkers, Rochester, Syracuse and Albany.

Cheapest health insurance by NY county

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Best health insurance by level of coverage

The best health insurance policy for you will depend on your medical needs, financial situation and plan availability in your area.

When deciding on the right plan, look for the plan tier that offers the right amount of coverage for your medical needs.

Platinum plans: Best for expensive medical treatment

Consider a Platinum health plan if you think you'll need a lot of expensive medical care in the coming year. For example, a Platinum plan may be a smart choice for someone who has recently been diagnosed with cancer.

Platinum plans have expensive monthly rates. However, you won't pay much when you visit the hospital. That's because Platinum plans typically have a low deductible and a low limit on how much you'll pay for medical care in a single year, called an out-of-pocket maximum.

Gold plans: Best if you have ongoing medical needs

A Gold plan is a good choice if you have to visit the hospital often. Gold plans have expensive monthly rates and low costs you pay when you get medical care.

Gold plans typically have low deductibles and cheap copays and coinsurance.

Silver plans: Best for most people

Silver plans have average monthly rates and middle-of-the-road costs when you go to the doctor. This makes Silver plans a smart choice for most people because they offer a good balance between rates and other costs you're responsible for when you get medical care.

Bronze plans: Best if you're healthy and you can afford large, unexpected medical bills

A Bronze plan may be a good option if you're healthy and rarely visit the doctor. These plans have cheap monthly costs. However, you'll pay a high portion of the bill when you visit the doctor.

If you get seriously sick or injured with a Bronze plan, you could pay thousands of dollars before your coverage starts. That makes Bronze plans risky. You should only consider this coverage tier if you're healthy and you have enough money in your savings account to cover a large, unexpected medical bill.

Free health insurance for New York residents who earn low incomes

New Yorkers have access to two types of free government health insurance: Medicaid and Essential health plans. To qualify for free insurance in New York, you need to earn below $37,650 per year as a single adult or less than $78,000 per year as a family of four.

If you make too much for free health insurance, you may be eligible for extra discounts, called cost-sharing reductions (CSRs), if you have a Silver health plan.

Medicaid: Best if you earn a low income

Medicaid is free government health insurance for New Yorkers who make about $21,000 per year or less as a single person or $43,000 per year or less for a family of four. The eligibility limits are higher for pregnant women and children.

Pregnant women who earn $33,588 per year or less and children younger than 18 with less than $23,196 per year can get Medicaid.

Essential Plan: Free health insurance in New York

You can get free health insurance in NY through the Essential Plan if you make less than $37,650 per year as a single adult or under $78,000 per year as a family of four.

The Essential Plan is the best way to get affordable health insurance if you earn too much to qualify for Medicaid and don't have insurance through a job. You can sign up any time of the year, even if it's not open enrollment.

Is health insurance getting more expensive in New York?

There wasn't much of a difference in rate increases between plan types. Bronze plans rose in price by 12% and the cost of a Silver plan increased by 13% on average. Both Gold and Platinum plans became 14% more expensive.

Short-term health insurance in New York

New York bans short-term health insurance because short-term plans don't have to offer essential benefits such as maternity care, mental health or prescription drugs.

New York state law requires all health insurance plans to offer these benefits.

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Frequently asked questions

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Methodology

New York health insurance rate data for 2024 is from the Centers for Medicare & Medicaid Services (CMS) website. ValuePenguin used the CMS public use files (PUFs) in calculations to average rates across multiple factors such as plan tier, county and family size. Plans and insurance companies for which county-level data was included in the CMS Crosswalk file were used in our reporting. Those excluded from these files were not included in our analysis.

Rates are based on a 40-year-old with a Silver plan, unless otherwise noted. Other sources include S&P Global Capital IQ and the New York State Department of Health.