Best Cheap Health Insurance in North Carolina 2019

Cheap health insurance policies in North Carolina can be purchased through the state's health insurance marketplace or through Medicaid if your household income is low enough to be eligible. We compared all Silver plans in the North Carolina exchange and, in the majority of the state, either the Blue Select 7000 (tiered network) or Blue Value 7000 (limited network) was the best priced health insurance policy offered. However, if you live in one of the five counties where Cigna provides coverage, its Connect 5500 policy was the cheapest Silver plan available in those regions.

Cheapest Health Insurance by Metal Tier

To help you find the most affordable rates for your desired level of coverage, we compared North Carolina health insurance policies by metal tier to determine the cheapest options available. While these plans aren't available in every county in the state, we recommend using them as a starting point to determine the benefits and costs you can expect for a given tier of coverage.

Higher metal tier plans, such as those in the Gold tier, typically come with lower deductibles and often have a lower out-of-pocket maximum expense. However, even the cheapest of these policies will have higher premiums than the lower-level plans, so you should weigh the benefits against your actual rates when determining the best coverage. Silver plans are typically recommended as a balance between moderate premiums and out-of-pocket costs, such as deductibles and co-pays, though the best policy for you may differ depending on your income and expected medical expenses.

Within a metal tier, your actual health insurance premium will also vary according to the policy you choose, your age and the size of your family. As you can see below, a 40-year-old will have health insurance rates that are 28% higher than the cost of the same metal tier policy for a 21-year old. And a 60-year-old's health insurance premium will be 112% more expensive than the average cost for a 40-year-old.

Finding the Best Health Insurance Coverage in North Carolina

The best cheap health insurance plan for you will depend on your income level as well as your expected expenses. North Carolina hasn't expanded Medicaid under the Affordable Care Act, so this option will be limited to those with income below the Federal Poverty Level. If your income is greater than this limit, your best health insurance options will be on the North Carolina marketplace, and you may qualify for tax subsidies for coverage depending on your income.

North Carolina exchange health insurance plans are broken into metal tiers that represent different levels of premiums and out-of-pocket expenses. Higher metal tier plans typically have higher premiums but lower deductibles, copays and coinsurance, so you'll be responsible for a lower proportion of costs in the event you need to use your coverage. These plans, such as Gold plans, are recommended for those who have higher expected medical care needs. You should balance the cheap health insurance rates that come with lower-tier plans, such as Bronze and Catastrophic policies, with the out-of-pocket costs you may need to pay if you need medical care.

Gold Plans: Best for People with High Expected Medical Costs

Higher-coverage Gold plans are typically the best health insurance option if you expect to have large medical expenses, such as routine prescription needs. Though these policies have higher premiums, the lower out-of-pocket expenses mean you'll have to pay less for each additional visit to a health care provider. When choosing the best Gold health insurance plan for yourself, make sure to consider the out-of-pocket expenses for prescriptions, as these typically have the highest routine use.

Silver Plans: Best for Average Medical Costs or People with Low Income

A Silver health insurance plan may be the cheapest option if you have a low household income, as these policies are eligible for additional cost-sharing reduction (CSR) subsidies. Silver plans are also a good middle ground option for shoppers who expect to have some medical costs and can't easily afford the higher expenses of a gold plan. These health insurance plans are cheaper but still have better benefits and lower out-of-pocket expenses than Bronze and Catastrophic plans.

Bronze and Catastrophic Plans: Best for Young, Healthy People with Low Expected Costs

Bronze and Catastrophic health insurance plans are the cheapest coverage options, but you may end up paying more if you have medical expenses, as the out-of-pocket costs are much higher. And Catastrophic plans are only available if you're under 30 or meet certain exemptions. You should carefully weigh your ability to cover an emergency medical cost before choosing one of these plans, because you'll need to meet a higher deductible before a policy's benefits will kick in. So, if you have little savings or disposable income, a Silver plan may be the better choice, even though it comes with a higher monthly premium, unless you're confident you could meet a Bronze or Catastrophic plan's deductible. We typically recommend considering these health plans only if you're young and healthy, and have emergency savings to cover the out-of-pocket expenses in the event you need medical care.

Short-Term Health Insurance in North Carolina

In North Carolina, short-term health insurance is available for purchase through off-exchange health insurance companies. Short-term policies are typically thin, as they may not cover the same essential benefits as Obamacare marketplace plans. Furthermore, this type of policy will often require you to undergo medical underwriting to be approved for coverage.

North Carolina currently does not restrict the length of short-term policies and follows federal regulations for these plans. These rules allow short-term health insurance plans to have coverage lengths of one year and be renewable for up to 36 months.

Best Cheap Health Insurance Companies in North Carolina

There are just two health insurance companies on the North Carolina state exchange: Blue Cross and Blue Shield of NC and Cigna HealthCare of North Carolina, Inc. Though both companies offer a variety of policies, you may be limited in the range of options available depending on where you live, and that can impact your rates. Cigna is only offering health insurance on the state exchange in five counties this year (Chatham, Johnston, Nash, Orange and Wake) and has the cheapest option for a Silver plan in each of those counties. Blue Cross Blue Shield is the only health insurance company available in most North Carolina counties.

Cheapest Health Insurance Plan by County

Where you live in North Carolina will determine the insurers and health insurance policies available. To help you with your search, we've found the cheapest Silver health insurance plans available on the state exchange in each county. You can see the policy with the best rates, as well as sample monthly premiums for different family sizes, below.

Average Cost of Health Insurance by Family Size in North Carolina

Families in North Carolina will pay higher premiums for health insurance based upon the number of individuals covered and their age. Any children age 14 and below will qualify for cheaper health insurance rates that remain flat until the child turns 15, after which the rates increase with age.

As you can see below, the average cost to add a child to a Silver health plan in North Carolina is $387. This is much cheaper than the average cost to add an adult to a health insurance plan, which increases premiums by an average of $646.