Best Cheap Health Insurance in Virginia in 2024

The Aetna Silver 5 plan from Innovation Health is the best cheap health insurance in Virginia, with a rate as low as $269 per month.

Find Cheap Health Insurance Quotes in Virginia

Currently insured?
icon
No spam. No hassle. No hidden costs.

While Innovation Health, an affiliate of Aetna, has the cheapest plan in the state, it isn't the cheapest for everyone. The Direct M Silver plan version with a $6,600 deductible from Sentara is the cheapest Silver option in some of Virginia's largest cities, like Virginia Beach, Chesapeake and Norfolk.

Virginia health insurance costs $409 per month, on average, for a 40-year-old with a Silver plan.

Kaiser Permanente is the best health insurance company in Virginia. It has a perfect 5-star rating from HealthCare.gov, excellent customer satisfaction and good rates.

How much does health insurance cost in Virginia?

Health insurance costs an average of $409 per month in Virginia for a 40-year-old with a Silver plan. These plans are a good choice for most people because they give you good coverage at an affordable rate. But if you go to the doctor often, need expensive treatments or take pricey prescription medications, a Gold or Platinum plan might be a better choice, even though they're more expensive.

Average cost of health insurance in Virginia by age and plan level

Compare Health Insurance Quotes in Virginia

Currently insured?
icon
No spam. No hassle. No hidden costs.

You'll also pay more for health insurance as you get older, since age makes you more likely to need medical care. The number of people on your health plan and their ages, where you live, what company you choose and whether or not you smoke or use tobacco also affect your health insurance rate.


Cheapest health insurance in Virginia

The cheapest health insurance rates for you will depend on what level of coverage you need. Sentara has the cheapest Bronze and Gold plans in Virginia, while Innovation Health has the cheapest Silver plan and Kaiser Permanente has the cheapest Platinum plan.

Tier
Cheapest plan
Monthly cost
Bronze Sentara Direct M Bronze 7200 $270
Silver Innovation Health Aetna Silver 5 $269
Gold Sentara Direct M Gold 1000 $357
Platinum Kaiser Permanente Standard Platinum $497

Monthly costs are for a 40-year-old.

lightbulb

Virginia residents can buy health insurance on the state's new marketplace website, Virginia's Insurance Marketplace. The website is new for the 2024 plan year. Previously, residents purchased plans on HealthCare.gov.


Finding your best health insurance coverage in Virginia

To find the best health insurance for you, try to match a plan with your health needs. For example, if you are having or plan to have a baby in 2024, you might want to choose a higher-tier plan since you'll likely have lots of doctor visits and medical bills. If you are generally healthy and don't expect to go to the doctor, a Bronze plan might be fine.

If you aren't sure how much coverage you need, start by looking at Silver plans. These are good middle-ground options for most people. Comparing Silver plans might also help you decide if you need more or less coverage.

Gold and Platinum plans: Best for frequent medical care

The highest-tier plans, Gold and Platinum, are also the most expensive options. But if you need ongoing or costly health care, it can be worth it to pay the high monthly rates to get the better benefits these plans offer. Overall, these plans could save you money if you need expensive health care, and you'll generally pay less out of your own pocket for medical care.

Silver plans: Best for average medical care

Silver plans cost less than Gold plans, but they give you more coverage than Bronze plans. This means they're a good option for most people. These plans usually have moderate deductibles, coinsurance levels and copays. You'll pay more at the doctor than you would with a Gold plan, but your monthly rate will usually be lower.

piggy bank

Silver is the only plan tier that has discounts to lower your medical spending. These discounts are called Obamacare or Affordable Care Act cost-sharing reductions, and they lower your copays, coinsurance and deductibles. You qualify if you make less than about $36,000 per year as an individual or $75,000 per year as a family of four.

Bronze plans: Best for minimal medical care

Bronze plans cost the least each month, but you also have to pay more when you go to the doctor. That's because these plans usually have higher deductibles, coinsurance and copays compared to Gold and Silver plans.

If you are young or generally healthy and don't get medical care often, a Bronze plan can be a good choice. But make sure you have the financial stability to pay for a bigger portion of your medical bills. If something serious happens like a major illness, severe injury or expensive medical treatment, you could have to pay up to $9,450 for your medical care.

Medicaid: Best for low incomes

Medicaid is a government health insurance program for people with low incomes. In Virginia, you have to make less than around $20,000 per year as a single person or $41,000 per year as a family of four to qualify for Medicaid. If you’re under age 19 or pregnant, you may be able to make more and still get Medicaid coverage. Medicaid can drastically reduce or get rid of your medical costs.


Are health insurance rates going up in Virginia?

Most health insurance plans in Virginia are cheaper in 2024 than they were in 2023. Bronze and Silver plans, the most common plan tiers in the state, are both 4% cheaper this year compared to last. Silver plans are about $16 cheaper each month, and Bronze plans are $13 cheaper.

Tier
2022
2023
2024
Change (2023 vs. 2024)
Bronze$386$336$323-4%
Silver$512$425$409-4%
Gold$501$414$407-2%
Platinum$525$471$4976%

Monthly costs are for a 40-year-old.

Compare Health Insurance Quotes in Virginia

Currently insured?
icon
No spam. No hassle. No hidden costs.

Platinum plans are the only level that got more expensive. You'll pay an average of $26 more per month for a Platinum plan in 2024 compared to 2023.

money

You might be able to save even more on your health insurance rate if you qualify for a rate reduction called a subsidy or premium tax credit. Most people qualify, and you could get a plan for $10 or less per month. You qualify based on your annual income. The less you make, the more you could save on your monthly rate.


Best cheap health insurance companies in Virginia

Kaiser Permanente is the best health insurance company in Virginia.

It has excellent customer satisfaction, good-quality plans and competitive rates. If budget is your main concern, Innovation Health and Aetna are good options. Both companies have average rates that are cheaper than Virginia's state average. And Innovation Health, which is an affiliate of Aetna, has the cheapest Silver plan in Virginia.

Best health insurance companies in Virginia

Company
Cost
Kaiser Permanente logo
Kaiser Permanente
$406
Aetna logo
Aetna
$381
UnitedHealthcare logo
UHC
$449
Cigna logo
Cigna
$410
Oscar logo
Oscar
$437
Show All Rows

Average monthly cost for a 40-year-old buying a Silver plan in VA. Ratings are based on editor reviews of the company.

Piedmont, which was one of the cheapest health insurance companies in Virginia in prior years, stopped selling health insurance plans in the state for 2024. If you currently have a plan from Piedmont, your coverage will continue through Dec. 31, 2023, but you'll need to find a new health insurance company for 2024. The company cited financial risk as the reason it’s no longer selling individual or family health insurance plans.


Cheapest health insurance plan by Virginia county

Where you live in Virginia determines what companies sell plans in your area and how much you pay. In most of the state's large cities, like Virginia Beach, Chesapeake and Norfolk, the Sentara Direct M Silver plan that has a $6,600 deductible is the cheapest Silver plan.

While the Aetna Silver 5 plan from Innovation Health is the cheapest Silver plan in Virginia, it's only available in some areas, notably to the southwest of Washington, D.C.

County
Cheapest plan
Monthly rates
Albemarle CountyAetna Silver 5$363
Alexandria CitySentara Direct M Silver 6600$355
Arlington CountySentara Direct M Silver 6600$355
Augusta CountyAnthem Silver X 5000$393
Bedford CountySentara Direct M Silver 6600$407
Show All Rows

Cheapest Silver plan with rates for a 40-year-old. Counties and cities shown represent 80% of VA's population.


Short-term health insurance in Virginia

You may want to consider short-term health coverage if you only need a policy for a short period of time, like if you are between jobs or have just graduated and are looking for your first job. You have to buy short-term plans directly from health insurance companies.

Virginia state regulations around short-term health plans are strict. Plans can only last up to three months. And you can only renew a plan once, for up to six months of coverage. You aren't allowed to have a plan for more than six months out of a year, which means you can't immediately buy another plan once your first one ends. You also can't buy short-term health insurance between Nov. 1 and Jan 15, which is open enrollment period for health insurance plans on Virginia's Insurance Marketplace.

Keep in mind that short-term plans are not required to give you the same coverage as plans from the marketplace. You might not have coverage for maternity care, mental health services or prescription drugs, for example. You should think about your health care needs before buying a short-term plan.


Frequently asked questions

How do I get health insurance in Virginia?

You can buy an Obamacare health insurance plan in Virginia by going to Virginia's Insurance Marketplace, the state's new health insurance website. Health insurance plans for 2024 must be purchased through the new state marketplace. You won't be able to use HealthCare.gov.

How much is health insurance in Virginia?

A Silver health insurance plan costs an average of $409 per month in Virginia for a 40-year-old. Your rate will vary based on your age, your family size, where you live, whether you smoke or use tobacco, the plan tier you buy and the company you choose.

What is the best health insurance in Virginia?

Kaiser Permanente is the best health insurance company in Virginia based on its rates, plan quality and customer satisfaction. But the best health insurance for you depends on your medical needs and monthly budget. To choose the right plan, think about how often you get medical care, how expensive your health care and medications are and how much you can afford to spend each month. Then, compare plans to find one that fits your needs.


Methodology

ValuePenguin sourced health insurance rates and plan details for 2024 from Virginia's new state health insurance exchange, Virginia's State Marketplace. Average rates are for a 40-year-old with a Silver plan, unless another age or plan tier is specifically noted. Company ratings were assigned to each company based on the company's average rates, plan quality, customer satisfaction and unique features. The information about the most popular plan levels in the state is from Kaiser Family Foundation.

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.