Health Insurance

Best Cheap Health Insurance in Oregon 2022

Best Cheap Health Insurance in Oregon 2022

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For 2022, the average cost of health insurance in Oregon across all plan tiers is $397 per month, which is 7% cheaper than for 2021.

The cheapest health insurance in Oregon for most people is from Regence BlueCross BlueShield of Oregon, a plan called the Silver Virtual Value 4000. This is the most affordable Silver plan in 36% of the state's counties. Alternatively, shoppers could find cheap coverage with Kaiser's KP OR Silver 4500/40 and Moda Health Beacon Silver 3500, depending on availability.

Cheapest health insurance coverage by plan tier

We compared health insurance plans in Oregon to assist you in your search for the best coverage. The plan tier and the ages of those covered by the plan largely affect the monthly premium on your health insurance plan.

A lower tier (Catastrophic or Expanded Bronze) carries higher out-of-pocket costs but has more affordable monthly premiums. But as age increases, premiums across all plan tiers increase. For example, a 40-year-old would pay about $115 more per month for a Silver plan, as compared to a 21-year-old. But a 60-year-old pays about $594 per month more than a 40-year-old, which is more than double the price.

Average cost of health insurance in Oregon by metal tier

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The table below shows the cheapest plans available in Oregon for each plan tier.

Although the plans in the table may not be available in your county, they show how health plans typically work: Higher metal tiers tend to have more expensive monthly costs, but they have lower deductibles, saving you from large upfront costs for medical care. For example, when we compare the cheapest Bronze Expanded plan to the cheapest Silver plan, the Bronze Expanded option costs $97 less per month but has a $4,200 higher deductible.

Plan tier
Cheapest plan
Monthly cost
Deductible
Out-of-pocket maximum
CatastrophicPacificSource Navigator Catastrophic$229$8,700$8,700
Bronze ExpandedProvidence Health Plan Connect 8700$308$8,700$8,700
SilverKaiser KP OR Silver 4500/40$405$4,500$8,550
GoldKaiser KP OR Gold 2000/30$429$2,000$7,900

Rates are for a 40-year-old.

Finding the best health insurance coverage in Oregon

Because the county in which you live determines health insurance plan availability and cost, the best health insurance plan for you may differ depending on where you live. Furthermore, the best health plan for you depends on your medical needs and financial situation. Within each tier, the costs and benefits will differ, but all plans within a given tier will offer roughly the same coverage and require you to pay the same expenses as a whole.

Typically, policies in the higher metal tiers have costlier monthly premiums, but they also have lower out-of-pocket expenses, like deductibles, copays and coinsurance. If you think you may become sick or already have high recurring medical costs, like ongoing prescriptions, a policy in a higher metal tier may be the best choice for you. Alternatively, if you're young and healthy, getting a policy in a lower metal tier may help you save money.

Gold plans: Best for high expected medical costs

Plans in the higher metal tiers typically cover the largest portion of out-of-pocket costs, which means paying lower deductibles, copays and coinsurance. These health insurance plans are the most cost-effective if you expect to incur high medical expenses due to chronic conditions or costly prescriptions.

On average, you can expect a Gold plan to cover roughly 80% of your health care expenses, while you pay the other 20%. But these benefits come at the expense of a higher monthly premium compared to Silver or Bronze plans.

The cheapest Gold plan in Oregon is the Kaiser KP OR Gold 2000/30.

Silver plans: Best for those with a low income or average medical costs

Silver policies offer a middle ground between Gold plans and Expanded Bronze plans. For example, the deductible you would have to meet on the Kaiser KP OR Silver 4500/40 would be $4,500. That means you would need to pay this amount for your medical costs before the plan begins to cover your expenses.

When compared to other plans from the same company, the Silver plan's deductible is much lower than that of the KP OR Bronze 5500/50 plan, but it's higher than the $0 deductible of the KP OR Gold 0/20 plan.

This metal tier also stands out for lower-income households, which can qualify for cost-sharing reduction (CSR) subsidies with a Silver health plan, lowering their out-of-pocket expenses. Typical Silver plans cover about 70% of your health care costs, while you pay 30%. By using CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.

The cheapest Silver plan in Oregon is the Kaiser KP OR Silver 4500/40.

Bronze and Catastrophic plans: Best for young, healthy people

Catastrophic plans may offer the lowest monthly rates, but they're limited to people younger than 30 or those who qualify for an exemption. They also are not eligible for premium tax credits. Furthermore, these health plans provide the least coverage and are only recommended if you have the financial means to cover a large portion of your health care expenses in case of an emergency.

Expanded Bronze plans are open to everyone and similarly offer cheaper monthly premiums than higher metal tier plans alongside reduced coverage and higher out-of-pocket costs. So, if you need medical care during the year, you will have to pay more out of pocket before coverage kicks in.

The cheapest Expanded Bronze plan in Oregon is the Providence Health Plan Connect 8700. The cheapest Catastrophic plan in the state is the PacificSource Navigator Catastrophic.

Short-term health insurance in Oregon

You can purchase short-term health insurance in Oregon at any time during the year. For this reason, considering a short-term plan may be smart if you miss open enrollment or lose coverage through a job. However, you should carefully evaluate these policies before purchasing one, as these plans do not cover the essential health benefits.

In Oregon, regulators follow state guidelines, rather than federal rules, when it comes to short-term policies. The state imposes a three-month coverage limit for short-term health plans, including renewals.

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Health insurance companies in Oregon

In Oregon, there are currently six health insurance providers on the exchange.

Oregon health insurance companies

  • BridgeSpan Health Co.
  • Kaiser Foundation Health Plan of the Northwest
  • Moda Health Plan Inc.
  • PacificSource Health Plans
  • Providence Health Plan
  • Regence BlueCross BlueShield of Oregon

The available health insurance plans change depending on your location. Most counties have two to three insurance company options, but larger counties likely have more. Regardless of where you live, a range of plans at all coverage tiers are available to fit your medical and financial needs.

Cheapest health insurance plan by county

The insurers and health insurance plans available on the state exchange will vary depending on your county, so we identified the cheapest Silver plan in every county in Oregon to help you get started. Below, you can find sample monthly quotes for an individual, a couple and a family of three for the cheapest Silver plan in your county.

County name
Cheapest Silver plan
Adult
Couple
Couple & child
BakerRegence BCBS Silver Virtual Value 4000$470$940$1,174
BentonKaiser KP OR Silver 4500/40$405$810$1,011
ClackamasKaiser KP OR Silver 4500/40$405$810$1,011
ClatsopModa Health Beacon Silver 3500$431$862$1,076
ColumbiaKaiser KP OR Silver 4500/40$405$810$1,011
CoosModa Health Beacon Silver 3500$431$862$1,076
CrookPacificSource Navigator Silver 4000$459$918$1,146
CurryModa Health Beacon Silver 3500$431$862$1,076
DeschutesPacificSource Navigator Silver 4000$459$918$1,146
DouglasPacificSource Navigator Silver 4000$459$918$1,146
GilliamRegence BCBS Silver Virtual Value 4000$470$940$1,174
GrantRegence BCBS Silver Virtual Value 4000$470$940$1,174
Show All Rows

Monthly costs are based on 40-year-old adults and children under 15.

Average cost of health insurance by family size in Oregon

When considering your family’s health insurance options, keep in mind that factors like the number of people who need coverage and their ages will affect the monthly premium. If you add children to your health insurance plan, each child will cost a flat rate for coverage until they are 15 years old. After reaching 15, the monthly rate will increase as they grow older.

For instance, the average monthly health insurance cost for a family of three, assuming two 40-year-old parents and a child on a Silver plan, is $1,187 in Oregon. If you were to add another child to the plan, the monthly premium would increase by $236. For a family of four, the total monthly cost of health coverage would be $1,423.

Family size
Average cost
Adult & child$711
Couple$951
Family of three (couple & child)$1,187
Family of four (couple & 2 children)$1,423
Family of five (couple & 3 children)$1,659

Sample rates are based on the average monthly cost for a Silver plan in Oregon for 40-year-old adults and children under 15.

Health insurance rate changes in Oregon

The cost of health insurance is set by individual health companies. Once an insurer determines the rates, they are sent to the federal health insurance exchange for approval.

Overall, the cost of health insurance decreased by 7% from 2021 to 2022. This makes average costs for 2022 even cheaper than they were for 2020. However, not every plan tier changed accordingly. The price of Catastrophic plans fell by 8%, which was the largest drop. The cost of Silver plans fell by 5%, which saves consumers an average of $25 per month for these plans.

Plan tier
2020
2021
2022
Change (2022 vs. 2021)
Catastrophic$267$250$229-8%
Bronze Expanded$368$383$356-7%
Silver$476$500$475-5%
Gold$534$570$528-7%

Monthly rates are based on a 40-year-old adult.

Methodology

The health insurance premiums and plan information used in this analysis were sourced from the Centers for Medicare & Medicaid Services (CMS) government website. ValuePenguin determined the average rates by metal tier, family size and region using reference cost data from the CMS Public Use Files (PUFs). 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.

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.

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