Best Cheap Health Insurance in Virginia 2019

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. Overall, the companies that offered the cheapest health plans for a given tier of coverage on a premium basis are Kaiser Foundation and Cigna. Consumers interested in the cheapest premium payments should look toward these providers in their search for health insurance.

In nearly half of Virginia counties, the Anthem HealthKeepers Silver X 6100 had the most affordable premiums of all Silver plans. Anthem HealthKeepers also has the largest coverage area with a service area of 68 counties overall. All the other health plan providers cover less than half the available counties in the state, with the next highest being Optima, which only serves 30.

Cheapest Health Insurance by Metal Tier

We compared Virginia health plans by metal tier in order to help you find the best rates for your chosen level of coverage. Not all insurers offer coverage in every county, so the plans listed below may not be available depending on where you live. But we recommend using these as a starting point to determine the monthly premiums you might pay as compared to the expected benefits and out-of-pocket expenses within a metal tier of coverage.

Within a given tier of coverage, your actual health insurance costs will depend on your age and income. As you can see below, a 60-year-old in Virginia would pay 112% higher rates for the same level of medical coverage than a 40-year-old would. But a 21-year-old's health insurance premiums would be 22% cheaper than those of a 40-year-old.

Finding the Best Health Insurance Coverage in Virginia

The overall best cheap health insurance plan for you in Virginia will depend on your income and health status. Individuals with higher expected medical costs may pay in total by choosing a health plan with slightly higher premiums—such as a Gold policy—with lower out-of-pocket costs. This is especially true if your income exceeds 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 monthly premiums, but they come with substantially lower cost sharing than Bronze or Catastrophic health plans. 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, you will actually see substantially more affordable copays, coinsurance and deductibles.

Consumers that have routine medical bills will see the benefits of lower out-of-pocket expenses immediately. The cheaper out-of-pocket maximums and deductibles will limit the risk of large payments, should you need urgent medical care. Silver plans are generally the best health insurance plans, as they strike a good balance between premiums and out-of-pocket costs.

Cheap Bronze Plans are Best for the Healthy

While Bronze plans will have lower premiums, this is only part of the cost of health care. Bronze plans will typically have much higher deductibles and out-of-pocket costs, meaning that if 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 health insurance plans best for young, healthy applicants.

Short-Term Health Insurance in Virginia

Virginia residents can purchase short-term health coverage through insurers outside the health exchange. However, state regulations regarding short-term policies are stricter when compared to federal laws. Initial coverage is limited to six months, and policies can't be renewed after the term ends.

A short-term policy can be a good option if you do not have employer-sponsored coverage, do not qualify for Medicaid or missed open enrollment. However, a short-term plan will not cover essential health benefits such as maternity care, mental health services or prescription drugs. Therefore, you should evaluate your health care needs before purchasing one of these policies.

Best Cheap Health Insurance Companies in Virginia

Currently, seven health insurance companies offer Affordable Care Act-compliant plans through the Virginia exchange, four fewer than last year. For shoppers with incomes under 400% of the Federal Poverty Level, plans purchased through the exchanges will be eligible for premium assistance through tax subsidies. The companies offering plans in Virginia this year are:

Cheapest Health Insurance Plan By County

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

Average Cost of Health Insurance by Family Size in Virginia

The size of your family, as well as the age of each person insured by the policy, will directly impact the cost of a health insurance plan. Children under the age of 14 typically have a flat cost of coverage, but those 15 and older will face increasing premiums based upon their age.

For instance, if you get married and add your 40-year-old spouse to your Silver health insurance plan, your premiums would increase by an average of $567 per month in Virginia. But if you add your 12-year-old child to a policy, the average increase in monthly premiums would only be $339. So a family of five would pay $679 more per month for a Silver health plan, on average, than a family of three, assuming two adults were covered.