Health Insurance

Best Cheap Health Insurance in Vermont 2020

Find Cheap Health Insurance Quotes in Vermont

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In Vermont, you can purchase cheap health insurance on the Vermont Health Connect exchange if you do not already receive coverage through an employer or the Medicaid program. After comparing all Silver health insurance policies from the state marketplace, we concluded that the MVP VT Plus Silver 1 was the cheapest health plan in Vermont. Health insurance in Vermont is unique in that age is not used to set premiums for health insurance and rates are instead standardized across all adult age groups.

Cheapest Health Insurance Coverage by Metal Tier

To help you compare plans and prices, we have identified health policies in Vermont with the most affordable health insurance premiums that are available for each metal tier. The table below shows the cheapest plan, along with the deductible, out-of-pocket maximum and the monthly premium for an adult.

Metal TierCheapest PlanDeductibleOut-of-pocket maximumMonthly Premium for an Adult Individual
CatastrophicBCBSVT Catastrophic Plan$7,900$7,900$246.14
Bronze[MVP VT Plus] Bronze 5$7,900$7,900$422.10
Silver[MVP VT Plus] Silver 1$2,800$7,500$474.08
Gold[MVP VT Plus HDHP] Gold 3$2,700$2,700$568.54
Platinum[MVP VT] Platinum 1$350$1,350$705.42

Find Cheap Health Insurance Quotes in Your Area

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As you can see, health insurance premiums are broken down into five different metal tiers: Catastrophic, Bronze, Silver, Gold and Platinum. Additionally, you should note that the monthly premium for health insurance is for an adult individual. Usually, health insurance premiums are determined by the applicant's age, but in Vermont, age is not used to determine the price you would pay for health coverage.

Finding the Best Health Insurance Coverage in Vermont

The best health insurance for you and your family will depend on the availability of plans in your area, as well as your medical and financial situation. When evaluating policies, you should carefully review the policy premiums and deductibles for each metal tier to determine what is affordable. Generally, if you expect high medical expenses then you should select a higher tier policy with a lower deductible.

Gold and Platinum: Best If You Have High Medical Expenses

The highest tiers offered in Vermont are Gold and Platinum health insurance policies. These plans have the highest monthly premiums but also offer the most affordable deductibles and out-of-pocket maximums. For this reason, they can be useful if you have high medical expenses, in which case you would be able to reach the deductible quickly and begin coinsurance benefits.

Silver: Best for Low-Income Families

Silver health insurance policies are a good middle ground for most consumers, since they have average premiums along with deductibles and out-of-pocket maximums that are attainable. A Silver policy can be a great choice for people that may have just started a family and now have additional medical expenses associated with their newborns.

All health insurance policies except Catastrophic plans have access to premium tax credits. However, Silver plans have an added benefit for low-income households: A Silver policy is eligible for cost-sharing reduction benefits, which can decrease the amount you are required to pay in coinsurance and premiums. These reductions are available to anyone with a household income of less than 250% of the federal poverty level.

Bronze and Catastrophic: Best for Young and Healthy Individuals

Bronze and Catastrophic tier policies are the cheapest plans offered on the Vermont Health Connect marketplace but also have the highest levels for deductibles and out-of-pocket maximums. For this reason, both of these metal tiers should only be considered if you are extremely healthy.

Bronze policies are available to anyone, but Catastrophic policies can only be purchased if you are under 30 years old or have a hardship exemption.

Health Insurance Companies in Vermont

In Vermont, there are currently two companies that provide health insurance coverage on the state exchange:

  • Blue Cross Blue Shield of Vermont
  • MVP Health Plan

Both health insurance companies provide policies in all counties of Vermont. However, each company may offer different benefits. This can include discount gym memberships and rewards for participating in healthy lifestyle activities. We recommend that you evaluate the policy details for both companies to decide which makes sense for your situation.

Cheapest Silver Plan By County

In most states, health insurance premiums can differ depending on where you live. However, in Vermont, rates are standardized across all counties. Below we have provided the most affordable Silver policy for each county in the state.

CountyCheapest PlanMonthly Premium for an IndividualMonthly Premium for a CoupleMonthly Premium for a Couple And One Dependent
Addison[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Bennington[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Caledonia[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Chittenden[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Essex[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Franklin[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Grand Isle[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Lamoille[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Orange[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Orleans[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Rutland[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Washington[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Windham[MVP VT Plus] Silver 1$474.08$948.16$1,332.16
Windsor[MVP VT Plus] Silver 1$474.08$948.16$1,332.16

Average Cost of Health Insurance by Family Size

Families in Vermont will pay more for health insurance depending on the number of individuals covered under the policy. As you can see below, the average cost of adding a child to a Silver health insurance policy would be $425.14. This is less than the average cost of adding your spouse or another adult which would be $524.86.

Family SizeAverage Monthly Cost of Silver Plan
Parent and Child Only$950.01
Family of Three (Couple and Dependent)$1,474.87
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.