Updated: November 21, 2024
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Health insurance costs in Rhode Island differ by metal tier. Neighborhood Health Plan of Rhode Island offers the most affordable Bronze, Silver and Gold plans. Meanwhile, Blue Cross Blue Shield of Rhode Island provides the lowest-cost Platinum policy.
If you're looking to balance monthly premiums with quality claims and coverage, MoneyGeek examined the best health insurance in Rhode Island.
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Why Trust MoneyGeek? We downloaded plan data for Rhode Island directly from the Centers for Medicare and Medicaid Services (CMS).
Plan data was updated with the CMS exchange data released in October, the latest available data for the 2024 enrollment period.
Rhode Island's most cost-effective option in the Silver tier is the Neighborhood COMMUNITY plan by Neighborhood Health Plan of Rhode Island, which is $380 per month. For those aiming to minimize monthly expenses even further, despite potentially higher out-of-pocket costs, Bronze plans are another viable choice.
Health insurance premiums are impacted by the chosen metal tier, with a trade-off between higher monthly premiums and reduced out-of-pocket expenses, including lower deductibles.
Here are the most affordable health insurance plans from each metal tier in Rhode Island:
Interested in finding more options for cheap health insurance? Consider these affordable plans to match your coverage needs and budget.
| Bronze | Neighborhood INNOVATION | Neighborhood Health Plan of Rhode Island | $281 | $8,975 |
| Silver | Neighborhood COMMUNITY | Neighborhood Health Plan of Rhode Island | $380 | $7,500 |
| Gold | Neighborhood PLUS | Neighborhood Health Plan of Rhode Island | $395 | $7,550 |
| Platinum | VantageBlue Direct Plan 750/1500 Modified | Blue Cross Blue Shield of Rhode Island | $670 | $2,000 |
In the Rhode Island health insurance marketplace, consumers can choose from various metal tiers, including Bronze, Silver, Gold and Platinum. Each tier represents a different level of coverage and cost-sharing structure. Bronze plans typically have the lowest monthly premiums but the highest out-of-pocket expenses when receiving care. Conversely, Platinum plans come with the highest monthly premiums, yet they significantly reduce out-of-pocket costs during medical events. Gold plans strike a balance between moderate premiums and out-of-pocket costs.
For individuals earning below 250% of the Federal Poverty Line, cost-sharing reductions (CSRs) are available on Silver plans. CSRs lower the amount you have to pay out-of-pocket for deductibles, co-insurance and copayments, making health care more accessible and affordable.
The most affordable Silver plan in Rhode Island is the Neighborhood COMMUNITY plan offered by Neighborhood Health Plan of Rhode Island, with a monthly cost of $380.
The three most affordable Silver health plans in Rhode Island are:
Silver plans are typically a good choice for customers who expect moderate health care usage, as they balance monthly premium costs with out-of-pocket expenses like deductibles and copays. Customers with lower incomes might qualify for cost-sharing reductions on Silver plans, which lower the amount you have to pay for deductibles, copayments and co-insurance. These reductions make health care more accessible and affordable, reducing the total costs significantly for eligible people.
| Neighborhood Health Plan of Rhode Island | $380 | $7,500 | Neighborhood COMMUNITY |
| Neighborhood Health Plan of Rhode Island | $400 | $9,000 | Neighborhood VALUE |
| Blue Cross Blue Shield of Rhode Island | $410 | $7,200 | BlueCHiP Direct Advance 4950/9900 |
| Blue Cross Blue Shield of Rhode Island | $475 | $7,500 | BlueCHiP Direct 5000/10000 |
| Blue Cross Blue Shield of Rhode Island | $486 | $6,200 | BlueSolutions for HSA Direct 4100/8200 |
| Blue Cross Blue Shield of Rhode Island | $508 | $9,400 | VantageBlue Direct Plan 6000/12000 |
| Blue Cross Blue Shield of Rhode Island | $522 | $7,800 | BasicBlue Direct 5500/11000 |
The most cost-effective Gold tier health plan in Rhode Island is the Neighborhood PLUS plan from Neighborhood Health Plan of Rhode Island, available at a monthly rate of $395.
The top three most affordable Gold health plans in Rhode Island include the following:
Gold plans are ideal for customers expecting higher health care usage, which can offset the more expensive monthly premium through lower copays and deductibles. They offer comprehensive coverage, favoring those who want the reassurance of broader health services without high out-of-pocket costs. Gold plans typically appeal to individuals or families with ongoing medical needs who wish to minimize out-of-pocket expenses throughout the year.
| Neighborhood Health Plan of Rhode Island | $395 | $7,550 | Neighborhood PLUS |
| Neighborhood Health Plan of Rhode Island | $406 | $5,650 | Neighborhood ESSENTIAL |
| Blue Cross Blue Shield of Rhode Island | $438 | $3,900 | BlueCHiP Direct Advance 2300/4600 |
| Blue Cross Blue Shield of Rhode Island | $509 | $3,900 | BlueCHiP Direct 2300/4600 |
| Blue Cross Blue Shield of Rhode Island | $543 | $5,900 | BasicBlue Direct 2500/5000 |
| Blue Cross Blue Shield of Rhode Island | $544 | $5,200 | BlueSolutions for HSA Direct 1700/3400 |
| Blue Cross Blue Shield of Rhode Island | $568 | $8,000 | VantageBlue Direct Plan 1500/3000 |
The most affordable Bronze health plan in Rhode Island is the Neighborhood INNOVATION plan from Neighborhood Health Plan of Rhode Island, with a monthly cost of $281.
The three most affordable Bronze plans in Rhode Island are:
Bronze plans are generally suitable for younger individuals who expect low medical costs or those who primarily want coverage for major health incidents. They offer the lowest monthly premiums among Affordable Care Act (ACA) plans but come with higher out-of-pocket costs when accessing health care services. Customers opting for a Bronze plan are typically those willing to risk higher expenses for routine care in exchange for lower monthly insurance payments.
| Neighborhood Health Plan of Rhode Island | $281 | $8,975 | Neighborhood INNOVATION |
| Neighborhood Health Plan of Rhode Island | $287 | $7,225 | Neighborhood ECONOMY |
| Blue Cross Blue Shield of Rhode Island | $345 | $8,050 | BlueSolutions for HSA Direct 6300/12600 Modified |
| Blue Cross Blue Shield of Rhode Island | $345 | $8,050 | BlueSolutions for HSA Direct 6300/12600 |
The most economical Platinum health plan in Rhode Island is the VantageBlue Direct Plan 750/1500 Modified plan offered by Blue Cross Blue Shield of Rhode Island, with a monthly cost of $670.
Platinum health plans are ideal for customers who expect high medical costs and prefer paying more upfront in monthly premiums for reduced expenses at the time of care. Such plans offer the lowest out-of-pocket costs when accessing health care services, benefiting individuals with chronic conditions or those frequently visiting health care providers. With their higher premiums, Platinum plans are tailored for consumers who value predictability in health care spending and can afford the more substantial monthly cost for comprehensive coverage.
| Blue Cross Blue Shield of Rhode Island | $670 | $2,000 | VantageBlue Direct Plan 750/1500 Modified |
| Blue Cross Blue Shield of Rhode Island | $673 | $2,000 | VantageBlue Direct Plan 750/1500 |
Cost-sharing reductions (CSRs) are discounts that lower the amount you pay for deductibles, copayments and co-insurance. Specifically for Silver health plans, people with incomes between 100% and 250% of the federal poverty level qualify. Depending on the level of CSR, your maximum out-of-pocket costs can vary considerably. For instance, without any CSR, the maximum out-of-pocket for a Silver plan might be $7,350, while a high-level CSR could decrease the amount to $2,400, illustrating significant potential savings.
In Rhode Island, Health Maintenance Organization (HMO) plans are the most popular. Other options in the state include Preferred Provider Organization (PPO) and Point of Service (POS) plans.
The most affordable Silver health plans for each plan type are as follows:
While HMO plans are the most popular in Rhode Island, residents can also choose POS plans, which offer a balance of in-network care coordination with the flexibility to see out-of-network providers, and PPO plans, which provide great flexibility in choosing health care providers without the need for a primary care physician referral.
| Neighborhood Health Plan of Rhode Island | $380 | $7,500 | Neighborhood COMMUNITY |
| Neighborhood Health Plan of Rhode Island | $400 | $9,000 | Neighborhood VALUE |
The most common plan type in Rhode Island is the Health Maintenance Organization (HMO). Other plan types available in the state include the Point of Service (POS) and Preferred Provider Organization (PPO) plans.
Here are the main differences between these plan types:
Health Maintenance Organization (HMO): HMO plans often provide integrated care and focus on prevention and wellness. They typically require members to choose a primary care provider (PCP) who manages their care and provides referrals to specialists. These plans usually come with lower out-of-pocket expenses and premiums. However, out-of-network care is generally only covered in emergencies, and there is less freedom to see specialists without a referral.
Point of Service (POS): POS plans combine features from HMO and PPO plans. Like an HMO, participants may need to choose a PCP who will refer them to in-network specialists when necessary. POS plans offer more flexibility than HMOs by allowing out-of-network care, although at a higher cost. Nevertheless, if you go out-of-network without a referral, you may face higher out-of-pocket costs and more paperwork.
Preferred Provider Organization (PPO): PPO plans provide more freedom to see doctors and specialists without a referral, including those outside the plan's network, although for a higher fee. These plans offer greater flexibility to see any health care provider without a referral and a wider network of doctors and hospitals. However, these plans often have higher premiums, deductibles and co-insurance for out-of-network care.
Health insurance rates and availability of certain plans sometimes vary by location, directly impacting the options and premiums residents can expect to encounter. However, MoneyGeek found that Rhode Island's most affordable Silver plan stayed the same regardless of county, whether you're in Providence or Bristol.
The following table outlines the cheapest available plans in each county in Rhode Island.
| Neighborhood Health Plan of Rhode Island | $380 | $7,500 | Neighborhood COMMUNITY |
| Neighborhood Health Plan of Rhode Island | $400 | $9,000 | Neighborhood VALUE |
In Rhode Island, age plays a big role in how much you pay for health insurance. A Silver plan for an 18-year-old costs $319 per month on average, but for a 60-year-old, it's $967. That's a $648 difference. The older you are, the more you might pay each month.
Different metal tiers mean different prices, too. For example, a Bronze plan for a 40-year-old costs a monthly average of $315, but a Gold plan is $475. Moving from Bronze to Gold can cost $160 more each month.
MoneyGeek recently analyzed all the health insurance options available in Rhode Island. We provide a clear look at private insurance plans in the marketplace and explain the different metal tiers, including Bronze, Silver, Gold and Platinum. We also cover details on Medicaid and Medicare. We aim to give users the information they need to choose their best health care plan.
In Rhode Island, the Open Enrollment Period for private health insurance typically runs from November 1 to December 15. During this time, individuals can shop for, compare and enroll in health insurance plans via the state's marketplace. If you miss the December 15 deadline, you may still be able to enroll if you qualify for a Special Enrollment Period (SEP) due to life events such as marriage, having a baby or losing other coverage. Otherwise, you will have to wait until the next Open Enrollment Period to obtain private health insurance coverage.
Medicaid is a health care program in the United States offering medical services to qualifying individuals and families. In Rhode Island, eligibility for Medicaid depends on factors including income, family size and disability status. For instance, children, pregnant women, older adults, adults with dependent children and those with disabilities may qualify. Income thresholds for eligibility are set as a percentage of the Federal Poverty Level and can vary annually. Additionally, Rhode Island has adopted the Medicaid expansion under the Affordable Care Act, which allows for broader coverage of low-income adults without children. The Rhode Island Department of Human Services determines eligibility.
Medicare is a federal health insurance program for people aged 65 or older, certain younger individuals with disabilities and people with End-Stage Renal Disease. Rhode Island residents who meet these criteria are eligible. Medicare Part A covers hospital insurance, including inpatient care, skilled nursing facility care and hospice. Part B provides medical insurance that covers doctor's visits and outpatient services. Part C, or Medicare Advantage, is an alternative to Original Medicare (Parts A and B), offering additional benefits through private insurers. Part D covers prescription drugs.
MoneyGeek identified the best Medicare Advantage Plans in Rhode Island and the best Medicare Supplement plans in Rhode Island to help you find additional coverage options tailored to your needs.
You may have questions about cost and availability when looking for health insurance. MoneyGeek responded to frequently asked questions about cheap private health insurance in Rhode Island to help you learn more.
The cheapest Silver plan in Rhode Island for this year is the Neighborhood COMMUNITY plan offered by Neighborhood Health Plan of Rhode Island, with a monthly cost of $380. The cheapest Gold plan in Rhode Island is the Neighborhood PLUS plan, also by Neighborhood Health Plan of Rhode Island, at a monthly cost of $395.
Although you'll pay a lower monthly premium for a cheap health insurance plan, you may pay higher out-of-pocket costs when accessing health care services. More expensive plans cover more comprehensive services and considerably lower your out-of-pocket maximums.
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.
