The Best Cheap Health Insurance in Virginia 2017

Consumers seeking health insurance in the state of Virginia can find affordable options by looking at the plans offered on the Virginia Health Insurance Marketplace through Healthcare.gov. Overall the companies that tend to have the cheapest plans on a premium basis are United Healthcare, Innovation Health,  Anthem HealthKeepers, and Cigna. Consumers interested in minimizing premium payments should look towards these providers as one primary option in their search for health insurance.

In many counties the Anthem HealthKeepers Silver X 5000 has the lowest premiums of all silver plans, though it does come with an individual deductible of $5,000 which is higher than most other silver plans. Anthem HealthKeepers also has the largest coverage area with a service area of 130 counties overall. All the other plan providers cover less than half the available counties in the state, with the next highest being Aetna which only serves 51.

Contents

• Companies on the Virginia Exchange
• Cheapest Plans in Virginia

Companies Offering Plans on the Virginia Exchange

In 2017, 11 Health Insurance companies will be offering Affordable Care Act compliant plans through the exchanges on healthcare.gov. For shoppers with incomes under 400% of the Federal Poverty Level, or $47,080 for a single individual, plans purchased through the exchanges will be eligible for premium assistance through tax subsidies. The companies offering plans this year are:

Finding the Best and Cheapest Health Insurance Plans

Determining the best/cheapest overall health insurance plan will depend on your income and health status. Individuals with higher expected medical costs should actually pay slightly higher premiums for plans that have lower out of pocket costs. This is especially true if your income range falls under the threshold that will qualify you for cost sharing reductions that further reduce your copays, coinsurance and deductibles.

Start by Browsing Silver Plans

For all but the healthiest consumers we suggest that you begin your search by looking at the Silver level plans. These plans are generally a little more expensive in terms of premiums but come with substantially lower cost sharing. Furthermore they are the only plans that are eligible for additional subsidies for cost sharing reductions. If you earn under 250% of the Federal Poverty Level, or $29,425 for a single individual, you will actually see substantially lower copays, coinsurance and deductibles. 

Consumers that have routine medical bills will see the benefits of lower out of pocket expenses immediately. The lower out of pocket maximums and deductibles will limit the risk of large payments should you need urgent medical care. Silver plans generally strike a good balance between premiums and out of pocket costs. To help expedite your shopping we've included a table that lists the cheapest silver plan option in each county along with the pre-subsidy price for 21 and 40 year olds.

Cheap Bronze Plans for the Healthy

While Bronze plans will have lower premiums, this is only part of the cost of healthcare. Bronze plans will typically have much higher deductibles and out of pocket costs meaning that should you need treatment your total costs may actually be higher. The Bronze and Catastrophic plans will generally be a cheaper overall option for consumers that are healthier and have less need for routine medical care. In such cases the lower premiums combined with the lower likelihood of out of pocket expenses make these plans attractive. 

To help with your search, the following table outlines which insurer offers the cheapest silver plan in each county. The prices listed here are before any subsidies are applied and are prices for a single individual. Anyone with incomes low enough to qualify for a subsidy will see prices that fall under these amounts.

Premiums for Health Insurance: Age 21

The following table explores the health insurance costs for a single adult age 21 across different plan tiers in the state of Virginia. Plan options in each county vary so the prices you see in this table may not apply to your specific situation.