Best Cheap Health Insurance in South Carolina 2022 – ValuePenguin

cheapest health insurance by metal level

we compare plans in south carolina by metal level to find the most affordable health insurance policy at various levels of coverage. The table below can help you start comparing the costs and benefits you can expect from a plan at that tier.

For example, for the Ambetter Essential Care 1 policy, the lowest monthly premium statewide for a 40-year-old is $247, which is about $70 less than the monthly premium for the Ambetter Balanced Care 30 Silver plan. however, the bronze plan could mean paying $2,500 more out-of-pocket in deductibles, copays, and coinsurance compared to the ambetter balanced care 30 plan, depending on your plan usage.

Reading: How much is health insurance in south carolina

The monthly health insurance premium is largely based on the level of coverage and the ages of people covered by the plan. a higher metal level would mean paying lower out-of-pocket costs but higher monthly premiums. on the other hand, as the policyholder ages, premiums increase at all metal levels.

For example, a 60-year-old would pay $521 more each month, on average, for a gold plan compared to a 40-year-old.

finding your best health insurance coverage in south carolina

The best health insurance plans in South Carolina vary by county. For example, the cheapest silver plan for a 40-year-old in Abbeville is $317 per month, while the cheapest silver plan for a 40-year-old in Oconee is $514 per month. no matter where you live, you can choose a plan that offers coverage that fits your lifestyle.

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Higher metal tier health plans, like gold policies, have monthly premiums that are typically more expensive than silver policies, but offer significantly lower out-of-pocket costs like deductibles, copays, and coinsurance. This means that if you have high recurring medical costs or think you may get sick, a higher metal level plan may be the best option.

On the other hand, if you’re young, healthy, and have no expected medical costs, and prefer a lower monthly premium, a lower metal level policy may be the best option.

gold plans: best for expected high medical costs

If you use or expect to use your insurance frequently, gold plans tend to have the lowest costs because they offer lower deductibles and copays. however, the monthly premium you can expect to pay for a gold plan will generally be higher. Ultimately, these health plans are best if you have high expected medical costs or don’t want to pay out of pocket for an unexpected condition.

the cheapest gold plan in south carolina is ambetter security care 5. compare all levels in south carolina above.

Silver Plans: Better for those with low income or average medical costs

Silver plans have higher monthly premiums than catastrophic plans and bronze, but lower cousins ​​than gold plans. With a silver plan, you may also qualify for cost-sharing reduction (CSR) subsidies, which would further reduce your out-of-pocket costs.

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silver plans typically cover about 70% of your health care costs, leaving you to 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 in south carolina is the ambetter balanced care 30. compare all levels in south carolina above.

bronze and catastrophic plans: the best for young and healthy people

Bronze and Catastrophic plans offer lower monthly 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.

Bronze plans are open to everyone and offer lower monthly premiums than higher metal level plans. however, you will pay more out of pocket for medical care before the coverage kicks in. We would not recommend these policies unless you can afford the higher deductibles, copays, and coinsurance in the event of a medical emergency.

Enhanced Bronze plans are a new plan level introduced in 2020. This level expands a typical Bronze plan, which covers approximately 60% of your health care costs, to cover up to approximately 65% ​​of your costs .

the cheapest bronze plan in south carolina is the ambetter essential care 1. the cheapest catastrophic plan is bluessentials catastrophic 1. compare all levels in south carolina above.

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