Health Insurance

Best Cheap Health Insurance in Rhode Island 2020

Find Cheap Health Insurance Quotes in Rhode Island

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In Rhode Island, you can purchase relatively cheap health insurance through the state insurance marketplace. You can also acquire coverage by applying for Medicaid if your household income falls below 138% of the federal poverty level.

We compared quotes for health plans from all counties in the state and found that Neighborhood Community was the cheapest Silver policy available in Rhode Island. There are currently two insurers that provide health insurance to all counties in the state: Blue Cross & Blue Shield of Rhode Island and Neighborhood Health Plan of Rhode Island.

Cheapest Health Insurance by Metal Tier

We compared quotes from the HealthSourceRI exchange to find a low-cost health insurance policy available at every metal tier — Neighborhood Health Plan's policies consistently had the best rates. Marketplace health insurance is available if you do not already receive coverage through an employer or the federal government.

The table below shows the cheapest health insurance plan for each metal tier, along with its deductible, out-of-pocket maximum and the monthly cost for a 40-year-old applicant. These health policies should be used as your initial starting point to identify a metal tier that works with your income and healthcare needs.

Metal TierCheapest PlanDeductibleOut-of-Pocket MaximumMonthly Cost for a 40-Year-Old
BronzeNeighborhood ECONOMY$6,000$6,550$197.54
SilverNeighborhood COMMUNITY$2,500$4,500$287.05
GoldNeighborhood PLUS$1,000$5,150$299.51
PlatinumNeighborhood PRIME$500$1,500$446.78

As you can see, health insurance in Rhode Island is broken down into four different metal tiers: Bronze, Silver, Gold and Platinum. The cheaper plans like Bronze will have low monthly premiums but a high deductible, which will require you to spend more out-of-pocket before any coinsurance benefits will begin. On the other hand, a more expensive plan, like Gold or Platinum, will cost more in monthly premiums but your coverage will kick in more quickly.

Your premium for health insurance will be determined in large part by your age—as you get older you will pay significantly more for health insurance coverage. For example, for a Silver tier policy, a 60-year-old applicant in Rhode Island will have to pay 112%, or $414 per month on average, more than a 40-year-old.

Average Cost of Health Insurance RI

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Finding the Best Health Insurance Coverage in Rhode Island

The best health insurance for you will depend on the availability of plans in your county, your financial situation, as well as your healthcare requirements. Rhode Island has expanded eligibility for Medicaid, meaning that residents at household incomes less than 138% of the federal poverty level would be eligible for the program.

If you're searching for a health plan on the Rhode Island exchange, you should carefully evaluate the premiums and deductibles to determine what is affordable. Typically, if you expect moderate to high medical costs in the coming year, then we'd recommend considering a higher metal tier policy with more expensive premiums but lower deductibles to reduce your total expenses.

Platinum and Gold

The most expensive health insurance plans in Rhode Island are Platinum and Gold. Although these policies have the highest premiums, the deductibles and out-of-pocket maximums are low. These lower limits mean that Platinum and Gold plans may be more affordable if you have high medical expenses since you will more quickly gain access to coinsurance and copays. For example, say you and your partner have a single health insurance policy, and your spouse requires expensive prescription drugs that need to be refilled monthly. In this case, an upper-tier health insurance policy would likely work best to limit your total out-of-pocket expenses.


A Silver metal-tier health plan is a middle tier policy with affordable premiums, deductibles and out-of-pocket maximums. We would recommend a Silver health insurance plan for most people unless you are extremely healthy or know you will have significant medical expenses.

All health insurance plans offer premium tax credits, but only Silver policies are eligible for additional cost-sharing reductions if your income falls below 250% of the federal poverty level. If you are eligible, then you would receive discounts on the amount you are required to pay in coinsurance, copays and deductibles.


Bronze health plans are the cheapest available in Rhode Island. These policies have the cheapest premiums but the highest deductibles and out-of-pocket maximums. For this reason, a Bronze metal plan is a great option if you are in good health and young as you might not require as many health services. However, a Bronze policy can become expensive if you need healthcare, as it would cost a large amount in out-of-pocket expenses to reach the high deductible level and then gain access to coinsurance.

Best Cheap Health Insurance Companies in Rhode Island

There are currently two health insurance companies that provide coverage in Rhode Island:

  • Blue Cross & Blue Shield of Rhode Island
  • Neighborhood Health Plan of Rhode Island

Both health insurance companies service all counties of Rhode Island. However, Neighborhood Health Plan has the lowest rates for health insurance across all metal tiers. Therefore, we'd recommend Neighborhood Health Plan if you are looking for the cheapest policy available. That said, if you’re looking for additional benefits, like gym membership discounts, you may want to consider Blue Cross & Blue Shield.

Cheapest Health Insurance Plan by County

In all counties of Rhode Island, the Neighborhood Community policy is the cheapest Silver plan available. However, as mentioned before, you may want to consider Blue Cross & Blue Shield if added benefits are important to you.

CountyCheapest Silver PlanPremium Adult, Age 21Premium Adult, Age 40Premium Adult, Age 60
BristolNeighborhood COMMUNITY$224.61$287.05$609.59
KentNeighborhood COMMUNITY$224.61$287.05$609.59
NewportNeighborhood COMMUNITY$224.61$287.05$609.59
ProvidenceNeighborhood COMMUNITY$224.61$287.05$609.59
WashingtonNeighborhood COMMUNITY$224.61$287.05$609.59
Sterling Price

Sterling Price is a research analyst at ValuePenguin specializing in health and life insurance. He graduated from Syracuse University with a bachelors degree in Finance and Accounting and has previous experience as a licensed life insurance representative.

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.