If you’re looking for health insurance, you can find affordable policies on the Utah Health Insurance Marketplace. we researched policies in the state and found that value benchmark silver 6500 and med benchmark silver 6500, both from selecthealth, are the cheapest silver health insurance plans offered in most counties.
Utah lawmakers also expanded Medicaid, so this is another coverage option if your income falls below 138% of the federal poverty level.
Reading: How much does health insurance cost in utah
utah has six insurers offering health policies in the state, and two provide coverage in all counties: selecthealth and university of utah health insurance plans. this means residents will have many options when selecting coverage.
cheapest health insurance by metal level
we compare all plans offered in the utah marketplace and identify the most affordable health insurance policies at all levels of coverage. The table below shows each metal tier, along with its corresponding cheapest plan, deductible, out-of-pocket maximum, and monthly cost for a 40-year-old.
Utah health insurance is divided into five metallic levels: catastrophic, bronze, expanded bronze, silver, and gold. all tiers have different average prices, deductibles, and out-of-pocket maximums. plus, each metal level has multiple policy options.
The chart below shows the average cost of health insurance based on metal level for 21, 40 and 60 year old policyholders. As you can see, the costs increase as you get older. For a silver health plan, a 40-year-old will pay 48% more on average than a 21-year-old for the same level of coverage. a 60-year-old will pay 103% more than a 40-year-old for the same health plan.
find the best health insurance coverage in utah
the utah health insurance marketplace offers a variety of plans, but the best health insurance plan for you will depend on your income level and anticipated health care needs, in addition to the cost of a policy. It’s important to assess your personal health and financial situation before selecting a policy to purchase.
gold metal plans: best for expected high medical costs
Gold health insurance policies have the highest premiums, but also provide the most financial coverage if you have high medical costs. this is due to the low deductible of gold metal plans, since the health insurance provider pays a greater part of the medical expenses.
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For example, if you use prescription drugs and need frequent refills, a gold plan would work well because you’ll meet your deductible quickly.
the cheapest gold plan in utah is confident care gold 1. compare all levels in utah above.
silver metal plans: a good compromise for premiums and deductible
silver plans are a great option if you know you’ll have medical expenses. A silver plan’s premiums and deductibles offer a compromise between gold and bronze policies. All policies in Utah, except catastrophic, offer premium tax credits.
however, silver plans allow additional cost sharing reductions (csr). anyone with income below 250% of the federal poverty level can receive crs subsidies on copays and deductibles. this is a great feature of silver plans that offers better benefits than gold plans but at a lower cost.
the cheapest silver plan in utah is value benchmark silver 6500. compare all levels in utah above.
bronze and catastrophic: best for young and healthy homes
bronze and catastrophic health plans have the lowest rates in utah, but this may come at a cost due to the high deductible. deductibles for these tiers will often be set at the maximum allowable limit, so you first have to spend thousands of dollars before coverage benefits kick in.
Catastrophic plans are also available only if you are under 30 or qualify for a hardship exemption. Also, you may not qualify for a premium tax credit to reduce costs.
the cheapest bronze plan in utah is bronze reference value 8700. the cheapest catastrophic plan in utah is 8700 catastrophic value. compare all levels in utah above.
short term health insurance in utah
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in utah, you can buy a short-term health insurance policy through private insurers at any time during the year. the state allows a maximum coverage term of one year and allows policies to be renewed for up to 36 months if the policies are renewable.
Although short-term health insurance covers many health care treatments, it does not necessarily cover all essential health benefits. therefore, you should make sure a short-term plan provides enough coverage before you buy one.
the best cheap health insurance companies in utah
In Utah, six health insurance companies currently provide coverage in the state marketplace:
Depending on where you live, your choice of insurers and policies will vary. In Weber County, for example, all six insurers offer a variety of policies. But in Emery County, Cigna Health and Life Insurance Co. and molina healthcare of utah are not available. You should review each plan’s premiums, deductibles, and benefits before purchasing coverage.
cheapest silver plan by county
To help you start your search for health insurance, we’ve identified the cheapest silver plans for each county in Utah. The table below shows the name of the silver policy, along with the rates for a single adult age 40+, a couple, and a family of three.
average cost of health insurance by family size in utah
The costs of health insurance depend mainly on the age of the people insured by the policy. For example, in Utah, if you wanted to add a 40-year-old adult to a health insurance policy, it would cost you an average of $563, while adding a child would cost $302. Below, we provide the average cost of health insurance based on the size of the family covered by the plan.
changes in health insurance rates in utah
Policy premiums are set by individual health companies in Utah. once the rates are determined, they are submitted to the health insurance exchange for approval.
the average cost of a health plan in utah is 2% cheaper in 2022 than in 2021—a decrease of $10 per month for the average 40-year-old. the cost of gold plans is down 6% and bronze premiums are 4% lower in 2022. catastrophic and bronze expanded rates are up 1% each. The average monthly cost of a silver health plan in Utah is about the same in 2022 as it is in 2021.
methodology
utah health insurance rates and plan data used in this analysis were obtained from the cms (centers for medicare and medicaid services) website. We use CMS Public Use Files (POF) to calculate median rates for utah residents across multiple variables, including metal tier, family size, and county. Our analysis used plans and providers for which county-level data was included in the CMS match file; those excluded from this dataset may not appear.
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