Posted by Just as you know, health insurance is an important aspect of making sure that your overall health and well-being are protected, although it can be costly at times. As someone in the USA who is probably seeking to purchase health insurance, you should understand that sourcing for and finding the cheapest health insurance in the USA can be a daunting job if you don’t have adequate information at your disposal.
Well, there are several health insurance plans out there, and one of the best ways to find the cheapest is to compare quotes from multiple insurers through the use of online comparison sites.
Therefore, we will be discussing the most affordable health insurance companies in the United States and other vital information you will need in making your insurance decisions.
But before that, let’s understand how health insurance works.
How Does Health Insurance Work?
You might be wondering and asking how health insurance works. So here is it. Let’s have a little discussion on how it works.
When you have health insurance, you’ll usually pay a monthly premium to your insurance company.
This premium will be used by the insurance provider to take care of your bills when you have medical issues, or, better put, health challenges. I hope you are following, right?
Just like other types of insurance, there are several kinds of health insurance, which we have discussed below. You can take a look at them.
Types of Health Insurance
The following are the types of health insurance:
- Health maintenance organizations (HMOs)
- Preferred provider organizations (PPOs)
- Exclusive provider organizations (EPOs)
- Point of service plans (POS).
Health Maintainance Organisation (HMOs)
This is the most common type of health insurance. HMOs usually have lower premiums, though they can also be more restrictive.
With HMOs, you will have to choose a primary care physician from that network, and you’ll usually need a referral from your personal care physician to see a specialist.
This type of insurance does not give you enough freedom to choose your physician or hospital.
Preferred Providers Organisations (PPOs)
This is another type of health insurance. POS is very common and lets you have direct access to a network of doctors and hospitals that you can choose from.
Though you can also see doctors outside of the network, you will have to pay more for those visits.
Another key feature of a PPO is that it usually doesn’t require you to choose a primary care physician.
Exclusive Provider Organizations (EPOs)
The EPOs are more like HMOs in the sense that you have to choose from a specific network of doctors and hospitals.
Unlike an HMO, an EPO doesn’t require a referral for you to see or visit a specialist.
Point of Service Plans (POS)
Okay, the last one here is the point of service plans. A POS has some elements of HMOs and PPOs.
Like an HMO, a POS requires you to choose a primary care physician. Another key feature of a POS is that it usually has a deductible, but the deductible may be waived if you stay in-network.
Now that we’ve discussed the most important things about health insurance, let’s dive right into the cheapest health insurance in the USA.
Cheapest Health Insurance in the USA
There is a wide range of health insurance in the USA, however, the following are the 5 most affordable:
- Kaiser Permanente
- Cigna
- Humana
- UnitedHealthcare
- Blue Cross Blue Shield
- Aetna
- Oscar
- Health Net
- CareFirst
- Wellmark.
Overview of the Cheapest Health Insurance in the USA
1. Kaiser Permanente
- Year Founded: 1945
- Average Monthly Premium: $343
Pros:
- They have very affordable rates.
- Their health care plans cover all ages.
- They are highly rated by their customers.
Cons:
- This insurance company does not have a PPO type of health plan for its customers
- Its coverage is only available in a few states in the United States of America
- As a customer, you might have to wait a long time before you can meet a specialist.
Description: Kaiser Permanente is one of the top nonprofit healthcare insurance providers in the US, has a large network, and provides swift services to its customers.
This health insurance company offers individual and family health maintenance organization (HMO) plans to their customers, and you can also purchase Medicaid, Medi-Cal, or Medicare plans if you qualify.
Its customer satisfaction service is top-notch, which makes it one of the most rated by its users.
VISIT2. Cigna
- Year Founded: 1982
- Average Monthly Premium: $437
Pros:
- Cigna has a wide network of providers and facilities across the country
- It has comprehensive coverage for its customers, which includes dental and vision plans
- You can customize your plan with this insurance
- This insurance company has several online resources and tools to help you make informed decisions when purchasing health insurance packages.
Cons:
- Compared to their competitors, this insurance has a premium
- Sometimes, they place certain restrictions on their some of their coverage
- A number of their customers complain about their customer service.
Description: The main aim of Cigna is directed towards the development and improvement of your well-being. They also have the security of the people they insure at heart, which makes them one of the best yet cheapest health insurance services in the United States.
VISIT3. Humana
- Year Founded: 1961
- Average Monthly Premium: $323
Pros:
- Just like Cigna, they have a wide network of health providers and facilities.
- They have an excellent customer service
- Sometimes, they host seminars for their customers to help them make informed insurance decisions.
Cons:
- Their claims process can be a bit slow compared to their competitors
- Some locations, or rather, regions, have more coverage compared to others.
Description: Humana aims to improve the health and well-being of its customers. They offer a wide range of health insurance plans and services
Also, they aim to make their services easy to access and use and to provide high-quality customer service.
VISIT4. UnitedHealthcare
- Year Founded: 1977
- Average Monthly Premium: $423
Pros:
- UnitedHealthcare has several plans that are available for their customers to choose from
- They offer discounts for their customers
- This insurance firm is financially buoyant
Cons:
- Their customer service still needs to improve compared to their competitors
Description: The fourth on our list is UnitedHealthcare. This is another large health insurance company in the United States.
UnitedHealthcare helps people live healthier lives and makes the health system work better for everyone. They strive to achieve this by making their insurance plans very affordable and innovative.
VISIT5. Blue Cross Blue Shield
Year Founded: 1929
Average Annual Premium: $442
Pros:
- This health insurance provider is widely accepted across the country
- They are financially stable and buoyant
- Some of their plans cover prescription drugs
Cons:
- Their premiums are somehow higher than some of their competitors
- Some of their plans have high deductibles.
Description: The Blue Cross Blue Shield is an insurance firm that operates differently from other providers in the United States.
They have 36 separate and independent companies. So, this makes them the largest health insurance provider in the United States.
Do you want an affordable health insurance plan? Then this could be an option for you.
VISIT6. Aetna
Year Founded: 1953
Average Monthly Premium: $376
Pros:
- They have very affordable plan rates
- This firm rewards you for living a healthy lifestyle.
Cons:
- Their services don’t include a PPO plan
- They do not have a short-term insurance option
Description: Aetna offers HMO and EPO plans in 12 states. These 12 states are Arizona, California, Delaware, Florida, Georgia, Illinois, Missouri, Nevada, New Jersey, North Carolina, Texas, and Virginia.
It offers supplemental coverages such as dental, vision, accident, critical illness, etc. It has an app that makes it easy for you to have easy access to their plans.
The app combines your personal health history and the rest of your data to provide personalized tips for nutrition, sleep, and long-term health improvements.
7. Oscar
Year Founded: 1927
Average Monthly Premium: $401
Pros:
- They have a website that is very easy to use, including their website
- Their customer service is available 24/7
- You can customize your plans according to your individual needs.
Cons:
- They are not available in many states
- Some health providers don’t accept Oscars’ insurance
8. Health Net
Year Founded: 1979
Average Monthly Premium: $353
Pros:
- They have a wide network of providers and facilities
- Their customer service is available 24/7
- They are very affordable
Cons:
- Some of their plans don’t include prescription drug coverage
Description: Among the cheapest health insurance firms in the USA is Health Net. It’s a firm that provides a variety of health plans such as HMOs, POS, etc.
Though they are not in every state, they are available in several states such as California, Arizona, New York, and Oregon.
This health insurance is designed to provide its members with access to high-quality, yet affordable healthcare.
9. CareFirst
Year Founded: 1934
Average Monthly Premium: $363
Pros:
- Their plans are available for individuals, families, as well as employers
- They offer plans that cover your prescription drug
- CareFirst’s customer service is top-notch.
Cons:
- Their plans can be expensive, especially for those who are not qualified for discounts
- A good number of health providers don’t accept CareFirst plans.
Description: This is a non-profit health insurance company that has been offering insurance services for more than half a century.
It offers a variety of health insurance plans such as HMOs, PPOs, and POS plans.
CareFirst aims to provide its customers with access to affordable healthcare.
10. Wellmark
Year Founded: 1938
Average Monthly Premium: $358
Pros:
- Wellmark is widely accepted by providers across the country
- When it comes to customer care service, this insurance firm has a strong reputation and high ratings from its customers.
- It offers a variety of plans to choose from
Cons:
- Their health plan is available just in two states
- It takes time to process their claim
- Their plans can be expensive, especially for individuals.
Description: This is the last but not the least on our list today. It offers a variety of health insurance products such as family plans, Medicare plans, as well as Medicaid plans.
They have one of the best customer service, and they have been recognized by J.D. Power and Associates for their high levels of customer satisfaction.
In addition, Wellmark has a reputation for offering quality healthcare at an affordable price.
FAQs on the Cheapest Health Insurance in the USA
What is Health Insurance?
Health insurance has to do with insurance coverage of medical and health-related expenses such as doctor's visits, hospital stays, and prescription drugs.
How do I find the cheapest health insurance plan?
It's important to understand that the cost of health insurance varies depending on several factors, including your age, location, and health status. You can find the cheapest plan by comparing quotes from different insurers and considering the level of coverage you need.
Is there a way to reduce the cost of health insurance?
There are several ways to lower the cost of health insurance. One of the options is to choose a plan with a higher deductible.
Conclusion
To conclude, health insurance is an important decision in someone’s life, and it’s important to understand your options.
There are different factors to consider, including cost, coverage, and eligibility. Don’t be afraid to ask questions and explore all of your options.
After all, your health is too important to leave to chance. Get the coverage you need and rest easy knowing you’re protected.
We at GETIMMUNIFIED will keep providing you with the best insurance updates; hence, always check in to get more updated information here.
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