Cheapest (and Best) Health Insurance in Austin, TX (2024)

Your age, the type of plan you choose, your needs and where you live affect your health insurance costs. To identify cheap health insurance companies in Austin, MoneyGeek looked at market statistics. We also took into account plan options, monthly and maximum out-of-pocket (MOOP) costs and claims denial rates when determining the best providers.

Finding the best insurance policy requires some research since not all companies offer all metal tiers or plan options. Evaluate plans and tier options to determine which is best for you when there is just one provider offering coverage in your area.

We assessed the plans, service and affordability of insurance companies in Austin. The top rating goes to Ambetter from Superior Health Plan, with a monthly cost of $478 and a MOOP of $4,550. The runner-up is Ambetter, with a MOOP cost of $4,314 and an average monthly rate of $536.

MoneyGeek suggests considering other variables, like plans and customer service, so you can still get the best health insurance in Texas even if you do not reside in Austin.

Ambetter from Superior Health Plan offers Austin's best cheap health insurance, with an average monthly premium of $478 and a MOOP cost of $4,550.

Your area and how you and your insurer split medical costs influence your premiums. Reduced out-of-pocket costs are typically associated with higher average insurance costs.

Sometimes it is not a good idea to choose the provider that offers the cheapest health insurance. Understanding the relationships between metal tiers, plan prices, MOOP costs, copays, co-insurance and deductibles could help you locate the least expensive option.

Ambetter from Superior Health Plan offers the cheapest Silver health insurance plan in Austin, with monthly premiums averaging $478. Across all plan types, monthly premiums can range from $326 to $628. The cheapest health insurance in Texas might not always be the best. Silver plans are a great choice because they provide mid-tier protection and saving opportunities.

The metal system includes Bronze through Platinum, with Bronze offering the lowest premiums. While Catastrophic plans are usually less expensive, they come with restrictions. Remember that lower premiums are balanced by higher MOOPs. You may save on premiums, but you could pay more in the long run.

Austin's cheapest health insurance providers are listed below. Catastrophic plans were excluded since not everyone may have access to them.

CMS Standard Silver VALUE from Ambetter from Superior Health Plan, with a monthly average rate of $443, is the least expensive Silver plan in Austin.

The cheapest options by metal tier are shown in the table alongside their average costs. Catastrophic plans were left out since they are only accessible to those under 30 who want to purchase cheaper insurance plans.

Insurers take age into account when calculating your insurance rates, with prices climbing as you mature. Bronze or Expanded Bronze policies make up the cheapest options, excluding Catastrophic policies. To be eligible for a Catastrophic plan, you must meet certain conditions.

Before selecting a lower-tiered plan, it is crucial to understand your company's network to avoid paying for out-of-network services. Some of the cheapest Silver plan service providers in Austin are listed below.

Age and metal tier are the two factors that have the biggest impact on the cost of your health insurance. In the same way that higher metal tiers are associated with higher premiums, your rates will rise as you get older. The cost of health insurance is broken down below by metal tier and age group.

Although the cost of health insurance could be costly, you could be qualified for health insurance subsidies based on your income. Qualification typically falls between 100% and 400% of the FPL. The American Rescue Plan Act and the Inflation Reduction Act’s repeal of the ban for persons making more than 400% of the FPL will enable more individuals to receive subsidies up until 2025.

Medicaid and Medicare provide affordable options for health coverage for those who meet the criteria. Although your age may disqualify you from Medicare, you may still qualify for Medicaid or the Children's Health Insurance Program (CHIP) if your income is between 100% and 150% of the FPL. Keep in mind that the minimum income requirement varies depending on the state.

Choosing the ideal health insurance policy could be confusing. We answered some of the frequently asked questions about health insurance in Austin to simplify the process for you.