Cheapest (and Best) Health Insurance in Charlotte, NC (2023)

Health insurance companies evaluate factors like your location, age, plan type and health insurance requirements when determining premiums.

MoneyGeek helps you find an affordable provider in Charlotte, North Carolina, by reviewing Marketplace data, including monthly costs, maximum out-of-pocket expenses (MOOP), plan choices and claims denial rates, to find the best options for certain demographics.

Not all companies have all metal tiers or plan types. When shopping for a health insurance company, make sure it offers a plan that suits your health care needs. If you live in an area with limited or only one provider, compare metal tiers and plan options to choose the best one for you.

Ambetter came out as the top health insurance provider in Charlotte, offering the best combination of cost, plan options and customer service. Plans from Ambetter with an average MOOP of $4,456 cost $491 per month on average. Aetna follows in second place with a MOOP of $5,123 at an average monthly premium of $494.

Although cost should be a consideration, you should also look at the different plan options, cost-sharing choices and customer service since these are all important aspects when finding the best health insurance in North Carolina.

If you’re looking for affordable coverage, we found the cheapest health insurance companies in Charlotte. Ambetter ranked first with an average monthly premium of $491 and a MOOP of $4,456.

Health care insurance expenses differ between states and cities. Your premiums can fluctuate based on how you divide expenses with your insurance company. Plans with higher monthly costs offer lower out-of-pocket expenses.

The ideal insurance company is not always the least expensive. If affordability is your top priority, shop around for the cheapest health insurance in North Carolina and understand the Marketplace metal system, including how premiums and MOOP costs relate. Also, factor in deductibles, co-insurance and copays when determining pricing.

In Charlotte, Ambetter offers the most affordable Silver policies at an average rate of $491. Rates are on a provider level vs. a plan level.

The most affordable health insurance in North Carolina for you isn’t always the best. Silver plans are a good benchmark when looking for a balance between affordability and coverage. Other metal levels include Bronze through Platinum, with Bronze offering the lowest premiums. Catastrophic plans may also be available. While cheaper, they have substantial restrictions.

Remember that lower rates are countered by higher MOOPs. You’ll get financial protection from disastrous events but not everyday health care needs.

The below table shows the most affordable providers in North Carolina for each metal tier. We excluded Catastrophic plans because of the associated restrictions.

On a plan level, the cheapest average premium for a Silver plan is $475 from Aetna’s Silver S plan.

In the below table, we show how much each metal tier costs on average. Catastrophic plans were excluded from this table since certain criteria must be met to be able to qualify for such plans.

When calculating your health insurance rates, insurers take age into account. Costs typically rise as you age.

Bronze or Expanded Bronze plans are the cheapest health insurance options in Charlotte (aside from Catastrophic plans).

Choosing a plan with lower coverage levels may reduce your premiums, but it’s crucial to understand your provider’s network to prevent out-of-pocket costs for services received outside the network. Below is a table listing some of the cheapest providers in Charlotte for Silver plans.

Metal tier and age determine the cost of your health insurance. The table below shows how costs change based on your chosen metal tier and age.

Health insurance can get expensive. If your income falls below a specific low-income bracket, you could be eligible for a health insurance subsidy. Subsidies are offered to those whose income falls within 100% to 400% of the federal poverty level (FPL). The American Rescue Plan Act and the Inflation Reduction Act extends this eligibility to those earning more than the 400% range, which means more people can access subsidies until 2025.

For those who meet this eligibility criteria, Medicare and Medicaid can be affordable health coverage options. While Medicare may not be available to everyone due to age requirements, Medicaid or the Children’s Health Insurance Program (CHIP) can be an option for certain individuals if their income falls between 100% to 150% of the FPL. Income thresholds vary among states.

To help you find the best health insurance for you, we answered the most frequently asked questions about insurance plans in Charlotte.