Find Cheap Health Insurance Quotes in South Dakota
Residents can purchase cheap health insurance in South Dakota on the federally run state insurance exchange. South Dakota currently has two insurers that provide coverage for the state: Avera Health Plans Inc. and Sanford Health Plan.
In South Dakota, the average premium for 2021 health plans is $561 per month, representing a 1% increase over the past year. For a 40-year-old, this is $5 more expensive than in 2020.
We conducted research and found that the Sanford Simplicity $4,750 is the cheapest Silver health plan available in the majority of counties in South Dakota. However, the Avera 3000 policy is the most affordable Silver plan in approximately one-quarter of the state. The Sanford TRUE $4,750 is the cheapest Silver plan in the state, but it is only available in three counties.
Select a plan tier to learn more:
Cheapest health insurance by metal tier
We researched all of the policies available in the state and identified the lowest-cost health insurance options by metal tier to help you compare the different costs and benefits among the levels. For example, the Sanford TRUE $4,750 is the cheapest Silver plan, which has a monthly premium of $473 and a deductible of $4,750. However, the cheapest Gold plan, the Sanford TRUE $1,750, costs $29 more per month but has a much lower deductible of $1,750.
In the table below, we list the cheapest health insurance plans by metal tier for South Dakota, along with the deductible, out-of-pocket maximum and monthly cost for a 40-year-old.
Monthly cost for a 40-year-old
|Catastrophic||Sanford TRUE $8,550||$8,550||$8,550||$235|
|Expanded Bronze||Sanford TRUE $7,000||$7,000||$8,400||$347|
|Silver||Sanford TRUE $4,750||$4,750||$8,150||$473|
|Gold||Sanford TRUE $1,750||$1,750||$6,250||$502|
Find Cheap Health Insurance Quotes in Your Area
There are currently four different tiers available to purchase in South Dakota: Catastrophic, Expanded Bronze, Silver and Gold. These plans differ in the costs and benefits that they provide. Generally, the higher the metal tier, the higher the monthly premium. Age is another key factor that will affect your monthly premium: As you grow older, your monthly health insurance costs will increase regardless of metal tier.
Finding your best health insurance coverage in South Dakota
The best health insurance for you depends on where you live, your health care needs and your financial situation. Here are some general guidelines to follow when looking through the state health insurance marketplace.
Typically, policies in the higher metal tiers like Silver and Gold have more expensive monthly premiums in exchange for lower out-of-pocket expenses, like deductibles, copays and coinsurance. These plans are best if you think you may become sick or already have high recurring medical costs that arise from chronic conditions.
On the other hand, those who are young and healthy or don't expect to have many medical costs may wish to choose a plan in a lower tier, such as Expanded Bronze and Catastrophic, to save money.
Gold plans: Best for high expected medical costs
Gold plans make up the highest metal tier available in South Dakota and typically cover the greatest share of out-of-pocket costs, which means you'll pay lower deductibles, copays and coinsurance.
Generally, Gold health insurance policies are the best in terms of cost-effectiveness if you expect to incur high medical expenses, such as from chronic conditions, or you have costly prescriptions. You can expect these plans to cover about 80% of your medical costs, while you pay for the remaining 20%.
The cheapest Gold plan in South Dakota is the Sanford TRUE $1,750. Compare all tiers in South Dakota above.
Silver plans: Best for those with low incomes or average medical costs
Silver plans are a good health insurance option for those looking for a balance between costs and benefits.
For example, the Sanford TRUE $4,750 Silver plan has a deductible of $4,750, which means you need to pay this amount for your medical costs before the plan begins to cover your expenses. The $4,750 deductible is higher than the $1,750 deductible on the Sanford TRUE $1,750 Gold plan, but it is much lower than the $7,000 deductible on the Sanford TRUE $7,000 Expanded Bronze plan.
However, Silver health plans can still be quite costly if you don't qualify for premium tax credits. Now, insurers have to cover the cost-sharing reduction (CSR) subsidies instead of the federal government. This can result in companies increasing their Silver premiums.
If you are part of a lower-income household, you may qualify for CSR subsidies with a Silver health plan, which would further lower your out-of-pocket expenses. Typical Silver plans cover about 70% of your health care costs, while you pay 30%. But under CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.
The cheapest Silver plan in South Dakota is the Sanford TRUE $4,750. Compare all tiers in South Dakota above.
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. You are also unable to use premium tax credits to reduce the costs. 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.
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 have to pay more out of pocket before coverage kicks in. On average, you can expect a Bronze plan to cover about 60% of your health costs, while you pay for the other 40%. Expanded Bronze plans increase coverage to about 65%, while you pay roughly 35%.
The cheapest Expanded Bronze plan in South Dakota is the Sanford TRUE $7,000. The cheapest Catastrophic plan is the Sanford TRUE $8,550. Compare all tiers in South Dakota above.
Health insurance companies in South Dakota
There are currently only two health insurance companies on the South Dakota state exchange: Avera Health Plans Inc. and Sanford Health Plan. Both of these insurers have been on the exchange for the past few years, and no change to the number of insurers in South Dakota is expected next year. All counties have access to both insurance companies, but the monthly rates for their health plans might be different depending on where you live.
Cheapest health insurance plan by county
Finding the best health plan for your family can be challenging since the plans offered and their monthly premiums may change depending on the region you're in. To make this process simpler, we compared rates for every policy in South Dakota to find the cheapest Silver health plan in each county.
Cheapest Silver plan
Single adult, age 40
Couple, age 40
Couple, age 40, plus child
|Aurora||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Beadle||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Bon Homme||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Brookings||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Brown||Sanford TRUE $4,750||$473||$946||$1,229|
|Brule||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Buffalo||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Campbell||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Charles Mix||Sanford Simplicity $4,750||$597||$1,195||$1,552|
|Clark||Sanford Simplicity $4,750||$597||$1,195||$1,552|
Average cost of health insurance by family size in South Dakota
When considering health insurance plans for your family, 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. Upon reaching the age of 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 $1,712 in South Dakota. If you were to add another child to the plan, the monthly premium would increase by $395. So for a family of four, the total monthly cost of health coverage would be $2,107.
Average monthly cost of health plan
|Individual plus child||$1,053|
|Couple, age 40||$1,318|
|Family of three (adult couple and a child)||$1,712|
|Family of four (adult couple and two children)||$2,107|
|Family of five (adult couple and three children)||$2,501|
Adults are assumed to be 40 years old. Children are assumed to be 14 or younger. Sample rates are based on the average cost of a Silver plan in South Dakota.
Health insurance rate changes in South Dakota
The average monthly cost of health insurance for a 40-year-old in South Dakota has increased by 1%, or $5, since 2020. Premiums across each metal tier varied, with Silver policies experiencing the largest cost increase — nearly 3% higher rates for 2021 plans.
Expanded Bronze health insurance policies had the highest average price decrease at nearly 3%, meaning a 40-year-old in South Dakota would pay $14 less per month.
South Dakota health insurance premium and plan details for this analysis were taken from the Centers for Medicare & Medicaid Services (CMS) government website. We then calculated the average cost of a policy by metal tier, county and family size within the state using the CMS Public Use Files (PUF).