Oscar offers Illinois residents the cheapest health insurance at $563 monthly. The price gap adds up fast over a year. Oscar costs $204 less each month than Blue Cross Blue Shield's $767 rate, which totals $2,448 in annual savings despite Blue Cross Blue Shield's larger provider network and stronger brand recognition across Illinois. Molina Healthcare and Cigna offer middle-ground options between low monthly prices and broader coverage networks.
Cheapest Health Insurance in Illinois: Affordable Plans for 2026
Updated: January 2, 2026
Advertising & Editorial Disclosure
Key Takeaways
Oscar is Illinois's most affordable health insurance provider, with an average monthly premium of $563.
Molina Healthcare offers the cheapest rates for teens, young adults, adults, seniors and HMO plans. Blue Cross Blue Shield has the lowest Bronze, PPO and POS rates.
Compare at least three insurers during Open Enrollment to find affordable coverage. Spending 30 minutes comparing plans can save you hundreds annually.
Most Affordable Health Insurance Companies in Illinois
| Oscar Health Plan, Inc. | $563 | $152 | $6,756 | $1,824 |
| Molina Healthcare | $587 | $128 | $7,044 | $1,536 |
| Cigna HealthCare of IL, Inc. | $619 | $96 | $7,428 | $1,152 |
| MercyCare HMO, Inc. | $766 | $51 | $9,192 | $612 |
| Blue Cross Blue Shield | $767 | $52 | $9,204 | $624 |
| UnitedHealthcare of Illinois, Inc. | $786 | $71 | $9,432 | $852 |
| Ambetter | $822 | $107 | $9,864 | $1,284 |
* We calculate average monthly rates by taking the rounded average of each provider’s monthly plan rates in Illinois. We calculate average monthly savings by subtracting the statewide average monthly rate from each provider’s average to show how much cheaper they are than the overall state average. Your actual rates will vary based on age, location and chosen plan.
Oscar
MoneyGeek Rating
4.1/ 5
4.6/5Affordability
3.7/5Deductible
2.8/5MOOP
Average Monthly Rate
$563Average MOOP
$9,625Average Deductible
$5,102
Cheapest Illinois Health Insurance Providers by Profile
Your cheapest option depends on age and plan type. Molina Healthcare offers lowest prices as teens pay $363 monthly, young adults $408 and adults $509, while Blue Cross Blue Shield charges $587 for POS but $1,078 for PPO. Compare premiums against deductibles and MOOP to find the best health insurance in Illinois.
| Teens | Molina Healthcare | $363 | $4,362 | $9,255 | $6,250 |
| Young Adults | Molina Healthcare | $408 | $4,892 | $9,255 | $6,250 |
| Adults | Molina Healthcare | $509 | $6,105 | $9,255 | $6,250 |
| HMO | Molina Healthcare | $509 | $6,105 | $9,255 | $6,250 |
| POS | Blue Cross Blue Shield | $587 | $7,046 | $9,000 | $4,667 |
| With Health Savings Account Eligibility | MercyCare HMO, Inc. | $687 | $8,242 | $5,400 | $5,400 |
| PPO | Blue Cross Blue Shield | $1,078 | $12,937 | $9,883 | $3,933 |
| Seniors | Molina Healthcare | $1,080 | $12,966 | $9,255 | $6,250 |
* Rates shown are averages for silver-tier plans, using the following ages for each group: teens age 18, young adults age 26, adults age 40, seniors age 60. For plan type costs, we used average rates for 40-year-olds.
Cheapest Illinois Health Insurance by Metal Level
Bronze, Silver and Gold plans balance monthly costs against medical expenses differently. Blue Shield's Bronze plans cost just $389 monthly but require $7,000 deductibles, meaning you pay full price for doctor visits, prescription refills and diagnostic tests until hitting that amount during the year. Molina Healthcare's Gold plans cost $463 monthly with $2,275 deductibles for faster copay access. Usage shifts the math. Two yearly doctor visits make Bronze cheaper, but six visits make Gold better overall. Molina's Silver plans split the difference at $509 monthly. Illinois doesn't offer Platinum coverage.
| Bronze | Blue Cross Blue Shield | $389 | $4,670 | $9,833 | $4,333 |
| Gold | Molina Healthcare | $463 | $5,561 | $8,100 | $1,640 |
| Silver | Molina Healthcare | $509 | $6,105 | $9,255 | $6,250 |
* Rates shown are the provider's average at the given metal tier for 40-year-olds.
Compare Cheap Illinois Health Insurance Plans
Check the following table to discover the most affordable health insurance options in Illinois suited to your situation:
Data filtered by:
HMO
Silver
40
No
| Molina Healthcare | Molina Silver Saver 70 with Four Free PCP or MH Visits | $497 | HMO | Silver | $10,150 | $7,000 | 40 | No |
| Molina Healthcare | Molina Silver Core 70 | $505 | HMO | Silver | $8,990 | $6,000 | 40 | No |
| Molina Healthcare | Molina Silver Core 70 Plus with Adult Vision | $509 | HMO | Silver | $8,990 | $6,000 | 40 | No |
| Molina Healthcare | Molina Silver Core 70 Plus with Rx Copay and Adult Dental and Vision | $525 | HMO | Silver | $8,890 | $6,000 | 40 | No |
| Oscar Health Plan, Inc. | Silver Classic Standard (Select) | $574 | HMO | Silver | $8,900 | $6,000 | 40 | No |
| Oscar Health Plan, Inc. | Silver Simple Diabetes (Select) | $577 | HMO | Silver | $10,000 | $6,500 | 40 | No |
| Oscar Health Plan, Inc. | Buena Salud Plateado 4360 (Select) | $603 | HMO | Silver | $9,700 | $4,360 | 40 | No |
| Cigna HealthCare of IL, Inc. | Connect Silver CMS Standard | $610 | HMO | Silver | $8,900 | $6,000 | 40 | No |
| Cigna HealthCare of IL, Inc. | Connect Silver 6500 Indiv Med Deductible | $615 | HMO | Silver | $9,500 | $6,500 | 40 | No |
| Oscar Health Plan, Inc. | Silver Classic Standard (Choice) | $618 | HMO | Silver | $8,900 | $6,000 | 40 | No |
How to Find the Cheapest Health Insurance in Illinois
Finding affordable health insurance gets complicated when you're faced with countless options featuring different premiums, coverage levels and deductibles. Use these steps to identify affordable coverage that covers your healthcare needs affordably.
- 1Choose a plan type within your budget
Your health circumstances and income determine which type of plan and metal tier work best. Calculate your monthly premium budget, assess your current health status and evaluate your injury or illness risk based on age, location and lifestyle.
- 2Check if you qualify for subsidies
Your household income and size determine eligibility for 2026 health insurance subsidies. Subsidies apply to incomes between 100% and 400% of the Federal Poverty Level (FPL). Lower incomes receive larger subsidies, with credit amounts decreasing as income rises.
- 3Explore Medicare options if you qualify
Medicare, Medicaid, Medicare Advantage plans and Medicare Supplement plans cost less than marketplace coverage. Compare eligibility requirements and benefits for each program.
- 4Verify prescription coverage
Check which tier your medications fall under for each insurer. Some plans place common prescriptions on lower tiers with smaller copays, potentially saving you hundreds annually.
- 5Shop during Open Enrollment period
Open Enrollment runs from November 1 to January 15. You may qualify for Special Enrollment if you've lost your job, divorced or had a child. Compare coverage types, customer ratings, costs and whether your doctors accept the plan.
- 6Review network providers
Confirm your preferred doctors and hospitals accept your chosen plan before enrolling. Out-of-network care costs much more than in-network services, even with good coverage. Contact providers directly or check insurer websites to verify participation, as network directories aren't always current or accurate.
Cheapest Health Insurance in Illinois: Bottom Line
Oscar, Molina Healthcare and Cigna have Illinois's cheapest health insurance premiums. Get quotes from three or more insurers in different metal tiers so you can balance monthly costs with your budget.
Cheap Illinois Health Insurance: FAQ
Below are answers to common questions about affordable health insurance in Illinois:
What is the cheapest health insurance in Illinois?
Oscar offers the cheapest health insurance, with Silver plans starting at $574 monthly for 40-year-olds.
What are the downsides of a cheap health insurance plan?
Cheap plans charge higher deductibles and out-of-pocket costs when you need medical care. You'll pay less monthly but more when using services. Higher-premium plans cost more upfront but reduce what you pay for doctor visits, prescriptions and procedures.
Do I qualify for subsidies on health insurance in Illinois?
Subsidies reduce monthly premiums through Get Covered Illinois, Illinois's health insurance marketplace. Enter your household income during enrollment to check eligibility.
When can I enroll in health insurance in Illinois?
You can enroll in Illinois health insurance during Open Enrollment from November 1 to January 15 for coverage starting the following year. Outside this window, you may qualify for Special Enrollment if you experience a qualifying life event like job loss, marriage or having a baby.
How We Decided the Cheapest Health Insurance Companies in Illinois
Illinois offers hundreds of health insurance plans, and premiums vary by age. We analyzed rate data from Get Covered Illinois, the state's health insurance marketplace, to identify which insurers offer the lowest premiums for different demographics.
Our Analysis Approach
We collected plan data for consumers aged 18, 26, 40, 50 and 60 to cover the full age spectrum from teens through pre-Medicare seniors. We ranked providers by their average monthly premiums for 40-year-olds as our baseline "cheapest overall" category, since this age reflects Illinois's median health insurance consumer and provides the most relevant comparison for most shoppers.
For age-specific rankings (teens, young adults, adults, seniors), we used the corresponding ages listed above. This approach reveals which insurers offer the best rates for your specific age group, not just generic "cheapest" rankings that may not apply to you.
Important Cost Tradeoff
Bronze and Silver plans (the lowest monthly premiums) charge $4,333 to $6,250 deductibles and $8,990 to $10,150 maximum out-of-pocket costs. You'll save monthly but pay more when you need care. Compare premiums and potential out-of-pocket expenses based on your expected medical usage.
Related Pages
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.