Affordable Health Insurance for 18-Year-Olds in 2024

Health insurance for 18-year-olds typically costs less than other age categories, as younger individuals have a lower anticipated need for medical care. Despite this, it’s important to note that rates can vary based on provider, income, health status and type of plan.

When getting health insurance for the first time, it’s wise to compare quotes and find coverage that’s right for your needs. Explore the average cost of health insurance for 18-year-olds for different plans, where to get coverage and more.

• How Much Is Health Insurance for an 18-Year-Old?
• Types of Health Insurance for 18-Year-Olds
• Best Health Insurance for an 18-Year-Old
• Health Insurance FAQs

The average cost of health insurance can vary based on various factors, often reflecting circumstances such as your age, health, location and more. The type of plan you get also plays a role in rates.

When getting health insurance for the first time, different aspects of the plan can also affect the costs. For instance, health insurance plans can have varying deductibles, the amount the policyholder must pay out-of-pocket before the insurance policy covers certain expenses. Plans also offer different maximum out-of-pocket (MOOP) costs, the maximum a policyholder would have to pay for covered services in a given year.

Both the deductible and the MOOP can affect your monthly premium. Typically, the higher the deductible, the lower your monthly costs and vice versa. Since 18-year-olds have fewer medical needs, it is common for them to opt for higher deductibles.

Review the table to understand the average costs for different types of plans, with the lowest-priced options offering a higher deductible or MOOP.

The Bronze tier is typically the lowest and most affordable in most states, but some areas may have a Catastrophic tier for healthy 18-year-olds that meet eligibility requirements. Aside from being able to cover emergencies and preventative medicine, Catastrophic plans are also cheaper than Bronze plans but often have a higher deductible.

On average, a Catastrophic plan costs $208 per month with an $8,550 MOOP or deductible.

Getting the lowest coverage plan is not for everyone. While some plans may be more affordable in terms of monthly premiums, it’s important to review a health insurance policy’s annual cost vs. the expected cost of treatment.

For instance, getting a plan with a monthly premium of $1,000 is not ideal for a healthy 18-year-old as they are unlikely to need medical care that reaches those costs. If the price of potential treatment out-of-pocket is lower than the annual premium, which in this example is $12,000, then it may be better to opt for a lower-cost plan.

Conversely, an 18-year-old who frequently needs to visit the doctor or get prescriptions may benefit from a plan with a higher premium and lower deductible to get coverage sooner. It is important to weigh the costs and benefits of a health insurance plan before enrolling to make the best decision for your needs.

There are various types of health insurance plans for 18-year-olds, all of which have varying premiums, networks and benefits. Plan types include Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Point-of-Service (POS) and Exclusive Provider Organization (EPO).

These plans differ primarily in the following ways:

• HMOs are the most common type of plan due to having low overall costs. However, they also tend to have the most restrictions in terms of networks.
• PPO plans tend to have the most extensive networks and flexibility in accessing providers. They also generally come with a higher price tag.
• An EPO is similar to a PPO, except it does not provide out-of-network coverage. An EPO's network size is generally similar to an HMO, minus coverage outside the network.
• POS plan features vary widely from carrier to carrier. For example, they can sometimes require referrals and exclude out-of-network coverage and their premiums are usually higher than an HMO and lower than a PPO.

The most common type of health insurance purchased by 18-year-olds is an HMO, but you should decide on a plan type based on what works best for you.

There are multiple ways to find health insurance for 18-year-olds. While the most common place to start is with your parent's insurance plan, you can also purchase health insurance through the marketplace. If you work, your employer may offer health insurance as a benefit.

With a variety of options available, you should be able to find a medical insurance plan that meets your needs and budget.

When it comes to the best health insurance for 18-year-olds, there is no universal best choice. The best health insurance for an 18-year-old depends on various factors such as their profile, provider and plan type. Generally, however, most healthy 18-year-olds can opt for a low premium, high-deductible or MOOP policy, such as a Bronze tier HMO.

Below are a few examples of the best types of health insurance for 18-year-olds based on their situation.

Health insurance is usually an annual commitment that you can change during annual enrollment periods. It’s smart to compare plans yearly to ensure you're still getting the best deal for your needs.

Young adults who are just starting to explore their healthcare options may have questions, so we’ve addressed a few common queries about health insurance for 18-year-olds.