Posted by As a young person who seeks to have your health insured with minimal cost, it’s paramount that you look out for companies that offer affordable health insurance for young adults.
This is because these health insurance policies will provide you with top-notch health protection without having to break the bank.
Yes, finding affordable health insurance that meets your needs can indeed be a daunting task, but it’s a challenge you need to take up so that you won’t be caught off guard if you happen to get injured or involved in an accident.
In this well-detailed and thoroughly researched article, we will be discussing the best affordable health insurance for young adults, the importance of health insurance to young adults, and other vital information that you will need concerning health insurance. So, let’s get started.
The Importance of Health Insurance for Young Adults
The following are the benefits of health insurance for young adults:
- Health insurance helps pay for your medical care
- It can help you avoid financial ruin
- This insurance can give you peace of mind
- It can provide you with preventive care
- Health insurance can help you stay healthy.
Health Insurance Helps Pay for Your Medical Care
When you have health insurance, it can help take care of the costs of your medical care without having to stress you out.
Without health insurance, you would be responsible for paying the full cost of any medical services that come your way.
This can be very expensive, and it can be difficult to afford if you have a sudden or unexpected medical need.
It Can Help You Avoid Financial Ruin
One of the main reasons why people file for bankruptcy in the United States is medical debt. Imagine not having an emergency medical condition that requires medical attention and not being financially able to foot the bills.
In this scenario, you are more likely to take out a loan, which can lead you into debt. and financial ruin.
But imagine you have health insurance. You won’t even have to bother yourself with the financial aspect because you already have insurance that covers your health.
This Insurance Can Give You Peace of Mind
Having health insurance can be a big relief because you know that you have coverage in case of an emergency or unexpected illness.
You don’t have to worry about how you’ll pay for medical care, and you can focus on your health and recovery.
It Can Provide You With Preventive Care
This is an important aspect of health insurance that is often overlooked. Preventive care is any medical care that is done to prevent you from getting ill.
This care includes things like check-ups, screenings, immunizations, etc. These types of care can help you stay healthy and prevent illnesses before they get serious.
Health Insurance Can Help You Stay Healthy
When you have health insurance, you can take advantage of preventive care and other services that can help you stay healthy.
This can include things like access to a primary care doctor, prescription drug coverage, mental health services, etc.
List of the Most Affordable Health Insurance for Young Adults
The following are the most affordable health insurance options for young adults:
- Kaiser Permanente
- Blue Cross Blue Shield
- UnitedHealthcare
- Cigna
- Aetna
- Oscar
- Ambetter
- Molina Healthcare
- Humana
- Health Net.
Overview of the Most Affordable Health Insurance for Young Adults
1. Kaiser Permanente
- Year Founded: 1945
- Location: USA
Description
Kaiser Permanente is a well-known health insurance company that offers affordable plans to young individuals, families, and businesses.
It has a wide range of plans that are available for you as a young individual. These include HMOs, PPOs, and more.
One of the key benefits of Kaiser Permanente is its integrated care model. This is to say that they have a network of doctors, hospitals, and other healthcare providers that work together to provide the best healthcare experience for you.
They also have a strong focus on preventive care and wellness, which can be helpful for young adults.
Pros
- Kaiser Permanente has the lowest average monthly premiums for adults below the age of 65 compared to other health insurance companies.
- The complaint level of this insurer is very low compared to most of its competitors.
Cons
- The company’s network provider is small compared to its competitors.
2. Blue Cross Blue Shield
- Year Founded: 1929
- Location: USA
Description
Blue Cross Blue Shield is another major health insurance company that offers affordable plans to young adults.
They have a variety of plans available for you, such as HMOs, PPOs, and other high-deductible plans. Blue Cross Blue Shield has a large network of providers, like doctors and hospitals, that accept their plans.
So you should be able to find a provider that meets your needs, irrespective of your location.
Pros
- One thing that sets Blue Cross Blue Shield plans apart from competitors is their provider network. Its policyholders have easy access to doctors and hospitals in more than 200 countries through the Blue Cross Blue Shield Global Core.
- Forbes Advisor’s analysis of all Blue Cross Blue Shield plans found that member complaints are generally very low compared to health insurance providers for young adults.
Cons
- Blue Cross Blue Shield comprises 34 different independent companies, so there can be differences between Blues plans.
3. UnitedHealthcare
- Year Founded: 1977
- Location: USA
Description
This is another major health insurance company that offers plans to young adults. They have various plans that are available for you, such as HMOs, PPOs, etc.
UnitedHealthcare has a website and app that make it easy for you to find doctors, compare plans, and more.
They also have a rewards program that can help you save money on health care costs.
Pros
- This company offers other types of health coverage, including employer-based plans, Medicare, and Medicaid, which are made for the elderly.
- Most of their coverage options go beyond traditional health insurance, including critical illness insurance, dental insurance, hospital indemnity insurance, short-term health insurance, supplemental health insurance, term life insurance, and vision insurance.
- They have competitive average health insurance rates for people in their 20s.
Cons
- This insurer has a higher number of complaints from its policyholders than some of its competitors.
- They don’t offer ACA plans in many countries, compared to their competitors.
4. Cigna
- Year Founded: 1982
- Location: USA
Description
They have a variety of plans available, and one of the benefits of Cigna is their focus on preventive care. Also, they offer programs and resources to help you stay healthy and prevent illness.
Cigna has a strong customer service team that can help you with any questions or concerns you have about your plan.
Pros
- They have strong and reliable customer service
- Their rewards program is top-notch, especially for young adults.
Cons
- Their packages are not available in all areas
- Some of their plans have high deductibles.
5. Aetna
- Year Founded: 1953
- Location: USA
Description
This insurance offers plans in all 50 states in the United States and different countries around the world.
Aetna also has an extensive online presence, with tools and resources to help you manage your health and plan.
Their customer service is generally good, and they have a reputation for being responsive to customer needs.
Pros
- They have a very high rating from their customers
- Low-priced plans with low copays
Cons
- No platinum or catastrophic coverage
- They do not offer dental coverage.
6. Oscar
- Year Founded: 1927
- Location: USA
Description
Oscar is a newer health insurance company that has been growing in popularity in recent years. They offer HMOs and EPOs in some countries, with plans that have low or no deductibles.
One of the advantages of Oscar is its technology-driven approach to health care. They have a user-friendly website and app, and they offer virtual doctor visits through their telemedicine platform. Oscar is a good option for people who are tech-savvy and want a modern health insurance experience.
Pros
- Their website and app are User-friendly
- You can have access to their doctors virtually
- They have very affordable premiums.
Cons
- They have a limited network of providers
- This provider does not offer PPO options.
7. Ambetter
- Year Founded: 2014
- Location: USA
Description
This insurance provides numerous health insurance plans, like HMOs, EPOs, etc., and they are usually very affordable.
The Ambetter website and app are user-friendly, and they offer a telehealth option that allows you to see a doctor online.
Pros
- They have very affordable premiums
- Their app and website are very user-friendly
- Good customer service
Cons
- Not all services are covered
- May not be a good fit for people with complex health needs.
8. Molina Healthcare
- Year Founded: 1980
- Location: USA
Description
This insurance provider focuses on serving people who are eligible for Medicaid, Medicare, and other government-sponsored programs.
They have a network of providers that includes hospitals, doctors, and other healthcare professionals.
Pros
- Focuses more on preventive care
- You can get health education resources from their platforms
- They have excellent customer service
Con
- They may not be available in some areas
- May not be suitable for people with complex health needs.
9. Humana
- Year Founded: 1961
- Location: USA
Description
Humana is a large health insurance company that offers a variety of plans to young adults. They have a focus on providing quality, affordable health care, and they have a large network of providers.
Pros
- They have a variety of plan options
- Humana has a large network of providers
Cons
- Their coverage is not available in many countries
- May not be suitable for people with complex health needs.
10. Health Net
- Year Founded: 1979
- Location: USA
Description
This is a health insurance company that offers plans in several countries. They offer a variety of plan options, such as HMOs, PPOs, and many others.
Pros
- They have a variety of plan options
- This insurance company has a large network of providers.
Cons
- May not be suitable for people with complex health needs.
Table showing the Online Ratings and Monthly Premiums of the Cheapest Health Insurance for Young Adults
| S/N | Company | Rating | Average monthly Premium($) |
|---|---|---|---|
| 1 | Kaiser Permanente | 5.0 | 335 |
| 2 | Blue Cross Blue Shield | 4.5 | 419 |
| 3 | UnitedHealthcare | 4.7 | 355 |
| 4 | Cigna | 3.9 | 385 |
| 5 | Aetna | 4.9 | 371 |
| 6 | Oscar | 5.0 | 288 |
| 7 | Ambetter | 3.8 | 306 |
| 8 | Molina Healthcare | 4.5 | 350 |
| 9 | Humana | 4.4 | 350 |
| 10 | Health Net | 4.8 | 412 |
FAQs
What is the average cost of health insurance for young adults?
The average cost of health insurance for young adults can vary depending on a number of factors, such as your location, age, health status, etc. However, on average, a health insurance plan for a young adult cost between $300 and $500 per month.
Can I get health insurance through my parents' plan?
It's possible to get health insurance through your parents' plan, but it depends on a few factors. For example, you may not be able to stay on your parents' plan if you're married, have your own health insurance through your employer, or are eligible for Medicare. To find out for sure, it's best to contact your parents' health insurance provider.
Can I get health insurance without a job?
It is possible to get health insurance without a job, but it may be more difficult.
How can I save money on health insurance?
There are a few ways to save money on health insurance, even if you're not able to get it through your job. You need to shop around and compare plans, consider a high-deductible plan, etc.
We Also Recommend:
- Group Health Insurance For Small Businesses
- Best Health Insurance In Nigeria
- Cheapest Health Insurance in the USA
- Top 10 Best Affordable Family Health Insurance Plans
- Best Health Insurance Companies For Your Family.
Conclusion
When seeking affordable health insurance for young adults, you have to carefully consider all of your options, including your eligibility, as well as plans available through the health insurance marketplace.
Be sure to weigh the costs and benefits of different plans to find the best option for your needs. Do you have any questions or suggestions about what we’ve discussed? Then feel free to use the comment section below.