Cheapest Health Insurance in Virginia (2024 Plans)

Choosing a different metal tier can shift health insurance premiums and out-of-pocket costs. In Virginia, Innovation Health Plan, Inc. offers the cheapest Bronze and Gold options, while Aetna Health Inc. and Kaiser Permanente lead in the Silver and Platinum tiers, respectively.

If you're looking to balance monthly premiums with quality claims and coverage, MoneyGeek also analyzed the best health insurance in Virginia.

Discover the Silver 5: HMO Aetna Network of Doctors & Hospitals plan offered by Aetna Health Inc., the cheapest plan in the popular Silver tier in Virginia, with a monthly cost of just $367. Most consumers choose the Silver tier due to its balance of monthly premiums and out-of-pocket costs. For those looking to save on monthly rates at the risk of higher out-of-pocket costs, Bronze plans may be a suitable alternative.

Health insurance costs can differ significantly by metal tier, reflecting the balance between monthly premiums and the amount you pay when you need care, such as lower out-of-pocket costs and deductibles.

Here are the most affordable health insurance plans from each metal tier:

• Catastrophic: KP VA Catastrophic 9450 Ded/Vision from Kaiser Permanente ($160 per month for a 26-year-old)
• Bronze: Innovation Health - Aetna Bronze S: HMO from Innovation Health Plan, Inc. ($277 per month)
• Silver: Silver 5: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($367 per month)
• Gold: Innovation Health - Aetna Gold 3: HMO from Innovation Health Plan, Inc.($362 per month)
• Platinum: KP VA Standard Platinum 0 Ded/Vision from Kaiser Permanente ($497 per month)

For more information on affordable health plans, explore options for cheap health insurance that fits your needs and budget.

The most cost-efficient Silver tier plan for Virginians is the Silver 5: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc., priced at $367 monthly.

The three most affordable Silver plans in Virginia by monthly cost are as follows:

• Silver 5: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($367 per month)
• Silver S: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($368 per month)
• Innovation Health - Aetna Silver 5: HMO from Innovation Health Plan, Inc. ($369 per month)

Silver plans are well-suited for individuals and families who expect moderate health care use. They strike a balance between monthly premiums and out-of-pocket costs at the point of care. People with lower incomes may qualify for cost-sharing reductions (CSRs), which can substantially decrease deductibles, copayments and co-insurance, leading to significant savings on overall health costs.

The Innovation Health - Aetna Gold 3: HMO plan is Virginia's most affordable Gold tier health plan, offered by Innovation Health Plan, Inc. It has a monthly cost of $362.

The most affordable Gold health plans available in Virginia are:

• Innovation Health - Aetna Gold 3: HMO from Innovation Health Plan, Inc. ($362 per month)
• Gold 3: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($363 per month)
• Gold S: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($364 per month)

Gold plans are a good choice for customers who expect high medical costs and prefer lower out-of-pocket costs when they receive care. These plans offer a balance between the premium and out-of-pocket expenses, which is beneficial for those needing access to frequent medical care. These plans also provide more predictable costs, which can help in budgeting for health care expenses.

The Innovation Health - Aetna Bronze S: HMO plan from Innovation Health Plan, Inc. stands out as the most affordable Bronze plan in Virginia, with a monthly cost of $277.

Diving into the most affordable Bronze plans, Virginia residents have several options:

• Innovation Health - Aetna Bronze S: HMO from Innovation Health Plan, Inc. ($277 per month)
• Bronze S: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($287 per month)
• KP VA Bronze 7500 Ded from Kaiser Permanente ($289 per month)

Bronze plans are particularly suited for individuals who want to keep their monthly premiums low and are comfortable with higher out-of-pocket expenses when accessing health care services. These plans are ideal for those who do not expect extensive medical care throughout the year and seek coverage for worst-case health care scenarios.

The most affordable Catastrophic plan in Virginia is the KP VA Catastrophic 9450 Ded/Vision offered by Kaiser Permanente, with a monthly cost of $160.

The top three most economical Catastrophic health plans in Virginia are:

• KP VA Catastrophic 9450 Ded/Vision from Kaiser Permanente ($160 per month)
• BlueChoice HMO Young Adult 9450 Med Ded from CareFirst BlueCross BlueShield ($164 per month)
• Anthem HealthKeepers Catastrophic X DED 9450 from HealthKeepers, Inc. ($200 per month)

Catastrophic plans are for adults under 30 or those with a hardship exemption. These plans have low premiums but high out-of-pocket costs, making them suitable for those who want to minimize monthly expenses while still having a safety net for major medical events. They are not recommended for those who expect regular medical visits or need frequent prescriptions.

Virginia's most affordable Platinum plan is the KP VA Standard Platinum 0 Ded/Vision from Kaiser Permanente, with a monthly cost of $497.

• KP VA Standard Platinum 0 Ded/Vision from Kaiser Permanente ($497 per month)

Platinum health plans are ideal for customers who expect high medical usage and prefer paying higher premiums for more coverage, with lower out-of-pocket costs when accessing health care services. These plans, offering the lowest out-of-pocket expenses compared to other metal tiers, are suitable for those who visit doctors frequently or have ongoing medical treatment needs. They provide peace of mind for customers seeking comprehensive coverage with minimal additional expenses.

Health Maintenance Organization (HMO) plans are the most popular plan type in Virginia. Virginia's most affordable health plan within the HMO category ensures budget-conscious Virginians can access necessary health care services.

The cheapest Silver plans in Virginia by plan type are:

• HMO: Silver 5: HMO Aetna Network of Doctors & Hospitals from Aetna Health Inc. ($367 per month)
• EPO: Silver S: EPO Aetna Network of Doctors & Hospitals from Aetna Life Insurance Company ($371 per month)
• PPO: BluePreferred PPO HSA Silver 3200 Med Ded 25 Drug from CareFirst BlueCross BlueShield ($915 per month)

Generally, HMO plans are cheaper than EPO (Exclusive Provider Organization) and PPO (Preferred Provider Organizations) plans. However, HMO plans limit coverage to services received within the HMO's health care provider network and require referrals to see specialists.

Health insurance rates and availability of certain plans vary by county in Virginia, with each location presenting a unique landscape of options and costs for its residents.

Comparing the most affordable plans in the largest and smallest counties by population shows this variation in monthly rates:

• Fairfax County: Sentara Direct M Silver 6600 Ded from Sentara Health Plans ($355 per month)
• Highland County: Anthem HealthKeepers Silver X DED 5000 from HealthKeepers, Inc. ($393 per month)

The following table displays all available plans in each county in Virginia so you can compare rates between locations.

In Virginia, age plays a significant role in setting health insurance prices within metal tiers. A Silver plan for an 18-year-old costs an average of $415 per month, while a 60-year-old pays $1,232 for the same type of plan, demonstrating a difference of $817.

Health insurance costs for a 40-year-old with a Bronze plan are $331 monthly, while a Gold plan costs $560 for the same age. That's a difference of $229, with the Gold plan being more expensive due to offering more coverage.

MoneyGeek broke down all the health insurance options in Virginia. We explain private insurance that people can buy in the market, including different levels like metal tiers, and we also cover Medicaid and Medicare. Our goal is to help you understand your choices so you can pick the best health care for yourself.

In Virginia, the open enrollment period for health insurance through the Health Insurance Marketplace typically runs from November 1 to December 15 each year. Residents can shop for, compare and purchase private health insurance plans during this time. If you miss the deadline, you'll generally have to wait until the next open enrollment period to get coverage unless you qualify for a Special Enrollment Period (SEP). A SEP can occur due to certain life events, such as getting married, having a baby or losing other health coverage, which allows you to enroll outside the standard period.

Medicaid is a joint state and federal program that provides health care coverage to eligible adults, children, pregnant women, elderly adults and people with disabilities. In Virginia, eligibility is determined based on income, household size and other factors, with specific thresholds set for different groups. For example, children and pregnant women may qualify at higher income levels than other adults. Expanded Medicaid under the Affordable Care Act now allows more Virginians to get coverage, including those who meet income requirements up to 138% of the federal poverty level. Applications can be submitted anytime, with coverage beginning immediately if eligible.

Medicare is a federal health insurance program primarily for individuals aged 65 or older, but it is also available to some younger people with disabilities and those with End-Stage Renal Disease. In Virginia, as in all states, eligibility is based not on residency but on work history and certain health criteria. Medicare consists of several parts: Part A covers hospital and inpatient services, Part B covers outpatient and medical services, Part C (Medicare Advantage) offers an alternative to Original Medicare with additional benefits and Part D provides prescription drug coverage. There are also Medicare Supplement (Medigap) plans that help cover costs not included in Original Medicare.

You can explore the best Medicare Advantage plans in Virginia and the best Medicare Supplement plans in Virginia for additional coverage options tailored to individual 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 Virginia to help you learn more.