Updated: November 21, 2024
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BestHealth InsuranceVermontBest Health Insurance in Vermont
Why Trust MoneyGeek? We downloaded plan data for Vermont directly from the Centers for Medicare & Medicaid Services (CMS). MoneyGeek’s scoring methodology balances costs, claims approval and plan types to find the best providers in the state.
Plan data was updated with the CMS exchange data released in October 2023 for the 2024 enrollment period.
MVP Health Care has the highest MoneyGeek rating of 88 out of 100 and offers the best health insurance in Vermont. The company stands out for offering plans with lower monthly and maximum out-of-pocket costs.
For this analysis, we looked at 16 Silver plans in Vermont, including both EPO and HMO types.
Affordable premium rates
Low out-of-pocket costs
Only offers HMO plans
MoneyGeek's top pick for the best health insurance in Vermont is MVP Health Care. The provider offers eight Silver plans at an average rate of $894 per month. The average MOOP cost for these plans is $7415. MVP Health Care's plans are of the HMO type, which include a structured network of providers.
Plan Recommendations
MoneyGeek recommends the following Silver plans from MVP Health Care:
MoneyGeek's top pick for the best health insurance in Vermont for low out-of-pocket costs is Blue Cross Blue Shield of Vermont. It provides three Gold plans and one Platinum plan, both known for lower out-of-pocket costs. The plans cost an average of $1,093 per month and have an average maximum out-of-pocket cost of $3,775.
EPO plans, like the ones the company offers, usually mean you need to use doctors and hospitals in the network to be covered. Blue Cross Blue Shield of Vermont has an average denial rate of 17%.
Offers affordable premium rates
Low out-of-pocket costs
Rarely denies claims
Diverse plan options available
MoneyGeek's top pick for the best health insurance in Vermont for low out-of-pocket costs is Blue Cross Blue Shield of Vermont. It provides three Gold plans and one Platinum plan, both known for lower out-of-pocket costs. EPO plans, like the ones the company offers, usually mean you need to use doctors and hospitals in the network to be covered.
Plans from Blue Cross Blue Shield of Vermont cost an average of $1,093 per month and have an average maximum out-of-pocket cost of $3,775. The provider has a lower denial rate than most of the competition at 17%.
Plan Recommendations
MoneyGeek recommends the following Gold and Platinum plans:
MVP Health Care is the best cheap health insurance provider in Vermont, earning a score of 94 out of 100. The provider offers plans with a lower average monthly rate and lower out-of-pocket expenses.
For this analysis, we evaluated 16 Silver plans in Vermont, including eight Silver EPO plans and eight Silver HMO plans. MoneyGeek placed more weight on plans with lower monthly premiums, though plans with lower premiums often come with higher out-of-pocket costs.
Competitive premium rates
Minimal out-of-pocket maximum costs
Limited plan options
MoneyGeek's top pick for the best cheap health insurance in Vermont is MVP Health Care. It offers eight Silver plans, which are Health Maintenance Organization (HMO) options. HMO plans usually require staying within the provider network for the lowest costs. Plans from MVP Health Care cost an average of $900 per month, with an average maximum out-of-pocket cost of $7,409.
Plan Recommendations
MoneyGeek recommends the following cheap Silver plans:
Blue Cross Blue Shield of Vermont offers the best health insurance in Vermont for young adults, with a MoneyGeek score of 92 out of 100. It often has options with lower monthly premiums and maximum out-of-pocket costs, and it is less likely to deny claims than other companies.
We looked at 10 Bronze plans and three Catastrophic plans to figure out which company is the best for young adults. Catastrophic plans are also available for people who are younger than 30.
Highest affordability in premium rates
Minimal out-of-pocket expenses
Exceptionally low claim denial rate
Blue Cross Blue Shield of Vermont is MoneyGeek's top pick for the best health insurance for young adults in the state. It offers one Catastrophic plan and five Bronze plans, including Expanded Bronze options. The plans cost an average of $673 per month, with an average maximum out-of-pocket cost of $8,708.
EPO plans, like the ones offered by Blue Cross Blue Shield of Vermont, typically give you access to a broader selection of doctors and hospitals within the plan's network. The company has an average denial rate of 17% denial rate, which means it processes about the same number of claims as the competition.
Plan Recommendations
MoneyGeek recommends the following plans for young adults in Vermont:
Health insurance companies have plans that are not all the same. In Vermont, there are eight Silver EPO plans. There are also eight Silver HMO plans, but we didn't include them in our analysis because there isn't enough data available for an accurate comparison. The best provider for EPO plans in Vermont is:
MoneyGeek's recommendations use Silver plans. Silver plans are special because they are priced in a way that balances what you pay each month with what you pay when you visit the doctor. These plans are good if you go to the doctor sometimes.
MoneyGeek's top pick for the best health insurance in Vermont for Silver EPO plans is Blue Cross Blue Shield of Vermont. It offers plans at an average rate of $916 per month and an average maximum out-of-pocket cost of $7,647. The provider denies fewer claims than average.
Silver EPO plans have some advantages and disadvantages. They are a common choice, ranking third in popularity. You don't usually need a referral to see a specialist, which can make getting care easier. However, you must choose doctors within the plan's network unless you have an emergency, which can limit your choices.
Plan Recommendations
We suggest the following Silver EPO plans from Blue Cross and Blue Shield of Vermont:
The best health insurance in Vermont for you will depend on your health care needs and how much you are willing to pay in monthly premiums versus out-of-pocket costs. When buying a health insurance plan, keep these considerations in mind.
Understand when a health insurance plan will cover you
When you have health insurance, your insurance company makes agreements with doctors and hospitals about special rates for members. These are called in-network providers. Doctors outside this group are called out-of-network providers and can cost more. Different types of plans decide how much you will pay for out-of-network providers.
In Vermont, there are eight EPO plans and eight HMO plans. Some plans, like EPO types, let you choose doctors outside of the network, but you might have to pay more for it. HMO plans won't pay if you go outside the network.
Weigh the cost of premiums vs. the cost of care
When looking for the best health insurance, you want to think about how much you pay each month and how much you could pay out of pocket for medical care each year. Sometimes, you might pick a plan where you pay less each month but might have to pay more for doctor visits and medicine later. A plan with a higher monthly cost could be better if you go to the doctor a lot or have to buy medicine regularly because it means you won't have to pay as much out of pocket for these things.
The MVP VT Plus Reflective Silver 2 HDHP plan has a lower maximum out-of-pocket cost of $5,800 compared to other Silver plans. This plan's monthly cost is $854, which is not the cheapest, but it's not the most expensive either. If you can pay a bit more each month, this Silver plan might save you money if you need a lot of medical care. It's important to find a plan that doesn't cost too much each month and still keeps you safe from large medical bills.
Medicare is a federal health insurance program that is available to seniors aged 65 or older and those with qualifying illnesses or disabilities.
Medicare offers the following key coverages:
Medicare is an affordable alternative to private health insurance if you are eligible, but you may still incur costs in the form of deductibles, copayments and co-insurance.
MoneyGeek analyzed the best Medicare Supplement plans in Vermont and the best Medicare Advantage plans in Vermont to help you find a plan that suits your coverage needs.
Meanwhile, Medicaid is another government-sponsored health insurance program that is available to low-income individuals in Vermont to help cover health care costs. This program is available to you if your income falls below 138% of the Federal Poverty Level. Medicaid is the most affordable type of health insurance in Vermont if you qualify, and it does not require payment of premiums.
Finding an ideal health insurance plan can be complicated due to concerns about price and availability. MoneyGeek answers some frequently asked questions to help you research options.
The best health insurance in Vermont for 2024 is provided by MVP Health Care. However, the best choice for you will depend on your unique circumstances and needs.
A plan with reasonable prices and sufficient coverage is what you should be looking for. Despite offering reduced prices, some plans and companies might only offer a few services that may not suit all your medical needs. Your unique needs will determine what the best health insurance plan for you is.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
