Best Cheap Health Insurance in Vermont 2022 – ValuePenguin

in vermont, you can buy affordable health insurance at the vermont health connect exchange if you don’t already have coverage through an employer or the medicaid program. After comparing all of the silver health insurance policies in the state marketplace, we concluded that mvp vt plus silver 1 was the cheapest health plan in vermont.

Vermont health insurance is unique in that age is not used to set health insurance premiums, and instead rates are standardized for all age groups of adults.

Reading: How much does health insurance cost in vermont

cheaper health insurance coverage by metal level

In 2022, health insurance costs in Vermont increased by an average of 11%. the biggest increase was in the cost of silver plans, which increased 15% from 2021 to 2022.

To help you compare plans and prices, we’ve identified vermont health policies with the most affordable health insurance premiums available for each metal level. The table below shows the least expensive plan, along with the deductible, out-of-pocket maximum, and monthly premium for an adult.

Health insurance premiums are classified into four metal levels: bronze, silver, gold and platinum. additionally, you must take into account that the monthly health insurance premium is for an adult person. Health insurance premiums are generally determined by the applicant’s age, but in Vermont, that is not the case.

find the best health insurance coverage in vermont

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The best health insurance for you and your family will depend on the availability of plans in your area, as well as your medical and financial situation. When evaluating policies, be sure to carefully review policy premiums and deductibles for each metal tier to determine affordability. if you expect high medical expenses, you should select a higher tier policy with a lower deductible.

gold and platinum: better if you have high medical expenses

The highest levels offered in Vermont are Gold and Platinum health insurance policies. These plans have the highest monthly premiums and offer the most affordable deductibles and out-of-pocket maximums. For this reason, they can be helpful if you have high medical expenses, in which case you could meet your deductible quickly and begin coinsurance benefits.

the cheapest gold plan in vermont is mvp vt gold 1. the cheapest platinum plan is mvp vt platinum 1. compare all levels in vermont above.

silver: best for those with average medical needs

Silver health insurance policies are a good middle ground for most people, as they have moderate monthly costs along with mid-range deductibles and out-of-pocket maximums. A silver policy can be a great option for people who have just started a family and have additional medical expenses associated with their newborns.

All health insurance policies have access to premium tax credits, lowering your monthly costs. however, silver plans have an added benefit for low-income households: a silver policy is eligible for cost-sharing reduction benefits, which can lower the amount you must pay in coinsurance for each medical treatment and could reduce your deductible and out-of-pocket. maximum pocket.

the cheapest silver plan in vermont is mvp vt plus silver 1. compare all levels in vermont above.

bronze: best for young and healthy people

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bronze level policies are the cheapest plans offered in the vermont health connect marketplace, but they also have the highest levels of deductibles and out-of-pocket maximums. for this reason, only consider this metal level if you are extremely healthy.

the cheapest bronze plan in vermont is mvp vt plus bronze 1. compare all levels in vermont above.

health insurance companies in vermont

In Vermont, two companies currently provide health insurance coverage in the state marketplace:

Both health insurance companies offer policies in all Vermont counties. however, each company may offer different benefits, such as discounted gym memberships and rewards for participating in healthy lifestyle activities. We recommend evaluating the details of the policy so that both companies can decide which one makes sense for your situation.

cheapest silver plan by county

In most states, health insurance premiums can vary depending on where you live. however, in vermont, fees are standardized across counties. Below, we’ve provided the most affordable silver policy for each county in the state. mvp health plan’s vt plus silver 1 policy is the cheapest at $732 per month for a 40-year-old or $1,464 for a couple.

methodology

To find the cost of health insurance in Vermont, we gathered rates from the Vermont Health Insurance Exchange, Vermont Health Connect. We organize plans by metal tier to find the cheapest plans and average costs.

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