Best Cheap Health Insurance in New York for 2024
Highmark Blue Cross Blue Shield offers the best health insurance in New York. Silver plans start at $641 per month before discounts.
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Best and cheapest health insurance in New York
Cheapest health insurance companies in New York
Fidelis Care has the cheapest health insurance in New York. Silver plans start at $513 per month before discounts.
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Affordable health plans in NY
Company |
Cost
| |
---|---|---|
Fidelis Care | $513-$868 | |
Highmark BCBS | $641-$721 | |
Independent Health | $645-$684 | |
MVP Health Care | $677-$980 |
Cheapest health insurance in NYC: MetroPlus Health Plans
MetroPlus Health Plan has the most affordable health plans in New York City, at $805 per month for Silver coverage before discounts. The company has the cheapest rates in all five NYC boroughs.
Best health insurance companies in New York
Highmark has the best health insurance for most New Yorkers.
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
Company |
Editor rating
|
ACA rating
|
---|---|---|
Independent Health | 5.0 | |
Highmark Blue Cross Blue Shield | 5.0 | |
Fidelis Care | 4.0 | |
MVP Health Care | 4.0 | |
Anthem Blue Cross | 4.0 |
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Independent Health and CDPHP also sell top-rated plans.
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.
How much does health insurance cost in New York?
Health insurance in New York costs $247 per month after discounts on average.
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.
New York is one of a few states that don't use your age to determine your health insurance costs. Your rate also won't change if you smoke or use other tobacco products.
Get cheap medical insurance in NY
Health insurance costs $247 per month in New York if you're eligible for discounted rates because of your income.
That's $626 per month cheaper than the NY state average with no discount. Roughly 71% of people in New York who shop for health insurance through the state health exchange get discounts called subsidies or premium tax credits.
You're usually eligible for discounted rates if you earn between $15,060 and $60,240 per year as a single person or $31,200 to $124,800 for a family of four. Discounts apply to Bronze, Silver, Gold and Platinum plans bought through the New York health plan marketplace, called NY State of Health.
Cheap New York health insurance plans by city
MetroPlus Health Plan has the cheapest health insurance in NYC, at $805 per month for a Silver plan.
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
County | Cheapest Silver plan | Monthly rate |
---|---|---|
Albany | Fidelis Care Silver | $594 |
Allegany | Fidelis Care Silver | $513 |
Bronx | MetroPlus SilverPlus | $805 |
Broome | Fidelis Care Silver | $590 |
Cattaraugus | Fidelis Care Silver | $513 |
Cheapest Silver plan with rates for a 40-year-old
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Fidelis Care Silver is the cheapest Silver health plan for roughly 40% of the New York state population.
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
Platinum plans pay for about 90% of your medical care. |
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
Gold plans pay for about 80% of your medical care. |
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 pay for about 70% of your medical care. |
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
Bronze plans pay for about 60% of your medical care. |
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.
New York is just one of three states to offer this type of coverage to residents. These plans, called Basic Health Programs, help people who don't qualify for Medicaid but who would struggle to pay for regular health insurance.
Is health insurance getting more expensive in New York?
On average, New York health insurance rates increased by 13% between 2023 and 2024.
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.
Tier | 2023 | 2024 | Change |
---|---|---|---|
Bronze | $575 | $646 | 12% |
Silver | $776 | $873 | 13% |
Gold | $940 | $1,067 | 14% |
Platinum | $1,181 | $1,343 | 14% |
Monthly costs are for a 40-year-old.
Obamacare in New York
You can apply for Obamacare plans in New York by going to NY State of Health, the state's health insurance exchange.
Obamacare or Affordable Care Act (ACA) plans offer special consumer protections. For example, plans can't charge you a higher rate or deny coverage based on your health. In addition, all plans have to cover specific services, also called essential coverage.
Benefits that all NY Obamacare plans offer
- Outpatient care
- Emergency care
- Hospital care
- Care for pregnant women and newborns
- Preventive, wellness and ongoing disease services
- Prescription drugs
- Coverage for babies
- Laboratory services
- Rehabilitation services and devices
- Services for mental health and substance use disorders
Every ACA plan also has a limit on the amount you'll pay for medical care each year, called an out-of-pocket maximum.
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.
Frequently asked questions
What's the best cheap health insurance in New York?
Highmark Blue Cross Blue Shield has the best cheap health insurance in New York, at $641 per month before discounts on average. Highmark plans have a quality rating of 5 out of 5 stars from HealthCare.gov.
What is the most affordable health insurance in New York City?
MetroPlus Health Plan has the cheapest health insurance in NYC. Silver plans start at $805 per month before discounts. Keep in mind that health insurance in New York City costs more than in other parts of the state.
How can I get cheap health insurance in New York?
Health insurance tax credits, also called subsidies, can reduce how much you pay for health insurance based on your income and family size. In New York, there is also the Essential Plan, which provides free health insurance for people who have low incomes but don't qualify for Medicaid.
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.
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.