celtic insurance/ambetter offers the cheapest silver health insurance plan in most parts of the state. two of their plans, ambetter balanced care 11 and ambetter balanced care 129, are the cheapest options in a combined 70% of counties.
In the Missouri health insurance marketplace, there are five levels of coverage to choose from based on your financial and medical needs. the silver metal level stands out for offering subsidized plans based on your income level.
Reading: How much is health insurance in missouri
cheapest health insurance by metal level
we compare missouri health insurance policies by metal tier to help you find your best coverage. In the table below, we’ve identified the state’s most affordable plan within each coverage level, along with sample rates and coverage terms.
These particular policies may not be available or the cheapest in your county, as the best health insurance plans differ by region, but they can still be used as a reference to compare different costs and benefits between each metal level.
Although the wellfirst plans offered by ssm health insurance company are the cheapest, they are only available in three counties.
Typically, a higher metal tier health plan means higher monthly premiums but lower out-of-pocket costs. For example, the Wellfirst Bronze Copay Plus 8650x plan has a minimum monthly premium of $322, which is $97 less per month than the cheapest silver plan, Wellfirst Silver HSA-E 4500x. however, the silver plan offers lower out-of-pocket costs, with a $4,150 lower deductible than the expanded bronze plan.
Regardless of the metal level plan you choose, your monthly health insurance rates increase with age. For example, a 60-year-old pays 112% more on average than a 40-year-old in Missouri for the same silver health plan. This means that a 60-year-old would pay $696 more per month on average for a silver health plan.
finding your best health insurance coverage in missouri
the missouri health insurance marketplace offers policies in the following four levels: catastrophic, bronze, silver, and gold. higher metal tier health plans, like gold policies, typically have the most expensive premiums but affordable out-of-pocket costs like deductibles, copays, and coinsurance.
This means that if you have high recurring medical costs, such as prescriptions, or think you may need medical care, a higher metal tier plan may be the best option for you. On the other hand, if you’re young, healthy, and have no anticipated medical costs, and can afford the higher cost shares, a lower metal level policy may be the option for you.
gold plans: best for expected high medical costs
If you use or expect to use your insurance frequently, gold health insurance plans are often the most cost effective, as they have the lowest out-of-pocket costs. if you use your insurance often, lower deductibles and copays can balance out expensive monthly premiums.
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Ultimately, gold plans are best if you have high expected medical costs, such as chronic conditions that require regular medical care, or you’re worried about paying out of pocket for an unexpected condition.
on average, the cheapest gold plan in missouri is wellfirst gold value 3700x copay. compare all levels in missouri above.
silver plans: best for those with low income or average medical costs
silver plans are a good health insurance option for those looking to balance costs and benefits. however, these health plans can still be quite expensive if you don’t qualify for premium subsidies, such as cost-sharing reduction (csr) subsidies, which are no longer federally funded.
if you are part of a low-income household, you may qualify for csr subsidies with a silver health plan, further reducing your out-of-pocket costs. typical silver plans cover about 70% of your health care costs, while you pay 30%. but with csr subsidies, you could qualify for a silver plan that covers up to 94% of your health care costs.
The cheapest silver plan on average in Missouri is wellfirst silver hsa-e 4500x. however, this plan is only available in three counties. the cheapest silver plan that is widely available is ambetter balanced care 11.
compare all levels in missouri above.
bronze and catastrophic plans: the best for young and healthy people
Bronze and catastrophic plans typically have lower premiums compared to silver and gold plans. however, you must be under the age of 30 or qualify for an exemption to purchase a catastrophic plan. These cheap policies come with lower coverage, which means higher out-of-pocket costs.
If you need medical care during the year, you’ll have to pay more money yourself in deductibles and copays before the policy provides coverage. We do not recommend bronze or catastrophic policies unless you can afford the higher deductibles, copays, and coinsurance in the event of a medical emergency.
cheapest bronze plan in missouri is wellfirst bronze value copay x 8650x. the cheapest catastrophic plan is wellfirst catastrophic safety net. compare all levels in missouri above.
medication
in 2021, missouri passed a bill that expanded medicaid to approximately 275,000 people in the state through mo healthnet. For example, under the new law, a single adult earning no more than $17,774 per year, or a family of four earning no more than $36,750, could qualify for Medicaid coverage.
changes in health insurance rates in missouri
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In Missouri, health insurance providers adjust their premiums, deductibles, and out-of-pocket maximums annually based on a variety of factors. these changes are then reported to federal and state regulators for approval.
in 2022, the cost of health insurance for all metal levels increased in missouri. the cost of catastrophic plans, followed by expanded bronze plans, increased the most, relative to other metal tiers. catastrophic plans cost 13% more in 2022 than last year, and extended bronze plans are 9% more expensive in 2022.
short term medical insurance in missouri
Missouri short-term health insurance is available for purchase through out-of-market health insurance providers. Federal regulations for these plans allow coverage durations of up to one year, but Missouri limits short-term plans by allowing coverage to last only six months. however, you can renew a plan after the first coverage period.
Short-term health insurance can be helpful if you miss the opportunity to purchase a Marketplace plan during open enrollment or lose your previous health insurance coverage. But it’s important to know that short-term policies don’t cover all the essential benefits covered by Affordable Care Act plans. this may include guaranteed benefits such as maternity care and prescription drug services.
the best cheap health insurance companies in missouri
There are currently eight health insurance companies serving Missouri:
many counties only have one insurer for residents to choose a health plan, but some of the larger counties, including jackson and clay in the kansas city metro area, have multiple insurers available. Despite the limited selection of health insurance companies in most counties, a range of plans are available at different metallic levels to tailor your coverage.
cheapest health insurance plan by county
Finding the best health plan for you can be a challenge, as the selection of plans and their cost change depending on the region where you live.
For example, for a 40-year-old, the monthly cost of the Ambetter Balanced Care Silver 11 plan is $36 more expensive in Barton County than it is in Adair County. To simplify this process, we compared the rates for each silver policy in Missouri to find the cheapest silver health plan in each county, listed in the table below.
average cost of health insurance by family size in missouri
The number of people covered by a particular health insurance plan and their ages contribute to the cost of coverage. When you add a child to your health insurance plan, the price increases by an additional flat rate until they are 15 years old. once they turn 15, the monthly rate increases as they get older.
for example, the average cost of insurance for a family of three in missouri, assuming two 40-year-old parents and one child have a silver plan, is $1,611. if you added another child to the plan, the monthly premium would increase by $371. therefore, for a family of four, the total monthly cost of health coverage would be $1,982.
summary of the best cheap health insurance in missouri
frequently asked questions
methodology
Health insurance rates, deductibles, and out-of-pocket maximums were aggregated from data found at medicare & government website for medicaid services. ValuePenguin used Public Use Files (PUF) to calculate average values by metal tier, family size, and county to better understand the health insurance market in Missouri. 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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