Best Cheap Health Insurance in Maryland 2022 – ValuePenguin

Inexpensive health insurance can be purchased in Maryland through the state health insurance exchange or purchased if you qualify for the federally funded Medicaid program.

the cheapest silver health insurance plan in most maryland counties is kp md silver virtual forward 4000 from kaiser Permanente. We also look at rates to find the cheapest policies in the bronze and gold metal tiers.

Reading: What is the best health insurance in maryland

In the state, there are currently only three health insurance providers: carefirst, unitedhealthcare, and kaiser Permanente.

cheapest health insurance by metal level

we compared plans on the maryland health connection marketplace to identify some of the cheapest health insurance options available to residents. If you don’t currently receive employer-sponsored or federally funded health insurance, then you can purchase health coverage through the state Marketplace. For example, if you are currently self-employed, then you can purchase a policy through the state exchange.

The table below shows the cheapest individual health insurance plan for each metal tier along with the plan’s deductible, out-of-pocket maximum, and monthly cost for a 40-year-old. this information can help you determine which metal level suits your budget and coverage needs.

as you can see, maryland offers four different metal levels for coverage: bronze, silver, gold and platinum. the lowest tier, bronze, tends to have the highest deductible but the lowest monthly premium, making it the most affordable option if you’re healthy and expect to have low health care expenses.

On the other hand, higher metal tiers, such as gold and platinum, have higher premiums but lower out-of-pocket costs. for example, the cheapest gold metal policy in maryland is 25% more expensive than the best priced bronze plan.

average cost of maryland health insurance by age

On average, someone in Maryland will spend between $285 and $774 on a silver health insurance plan, depending on their age. The chart below illustrates the average monthly cost of health insurance by age and metal level of coverage.

For example, for a silver policy, a 40-year-old would pay an average of $365, which is 28% more than the premium for a 21-year-old with the same policy. the jump in monthly cost is even greater as you age, with a 60-year-old paying, on average, 112% more than a 40-year-old paying for a silver health plan.

find the best health insurance coverage in maryland

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The best health insurance coverage for you will depend on the availability of policies in your area, as well as your medical and financial situation. Maryland has expanded Medicaid, which means households with incomes at or below 138% of the federal poverty level can enroll in this federal health insurance program.

When looking for the cheapest health insurance, remember that the best plan for you depends on your medical needs and your budget. check premiums and out-of-pocket costs to decide what’s best for your situation. Generally, if you expect moderate to high medical expenses, you should select a higher metal tier that has higher premiums but lower deductibles.

gold and platinum: better if you have high medical expenses

the cheapest gold plan in maryland is kp md gold virtual forward 2000.

gold and platinum are the highest levels offered in maryland. These plans have high premiums but lower deductibles and out-of-pocket maximums, and may be the most cost-effective plans for people with high medical bills. you’ll meet your deductible more quickly and start paying coinsurance through your insurer. For example, let’s say you need expensive monthly prescriptions; in this case, a higher metal level plan would probably be the best option.

compare all levels in maryland above.

silver: better if you have lower income or average medical costs

cheapest silver plan in maryland is kp md silver virtual forward 4000.

We would recommend silver plans in most situations because they have modest premiums, deductibles, and out-of-pocket maximums. if you are in very good health, then a lower level plan, such as bronze, may be a better option. But if you expect high medical costs, a gold plan may be the best plan for you.

All metal tier health plans offer premium tax credits, but silver plans are eligible for cost-sharing reductions if your income meets your household criteria. this benefit reduces the amount you pay for deductibles, copays, and coinsurance and can make a silver health insurance policy the most cost-effective if you qualify.

compare all levels in maryland above.

bronze: best if you are young and healthy

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cheapest bronze plan in maryland is kp md bronze 6900/0%/hsa/vision.

bronze metal level plans are the cheapest policies offered in maryland and are available to applicants of any age. Although these health insurance plans have the most affordable monthly costs, they have higher deductibles, which means you’ll have to spend more out of pocket before your provider pays coinsurance.

compare all levels in maryland above.

short term medical insurance in maryland

in maryland, you can buy short-term health insurance plans directly through private health providers. Maryland has restrictions on short-term policies, including limiting coverage to three months and prohibiting renewals. this prevents you from using these policies for longer periods of time.

You may want to consider short-term health insurance if you missed open enrollment or lost employer-sponsored coverage. however, it’s important to note that short-term policies don’t cover essential benefits like marketplace plans do.

health insurance companies in maryland

There are currently three health insurance companies selling policies in Maryland:

kaiser Permanente offers the cheapest silver health plan in most maryland counties. however, the availability of plans and providers will depend on the county in which you live. therefore, it is important to recognize that the cheapest plan in your area may differ from the cheapest in another county.

cheapest silver health insurance plan by county

Depending on where you live, the price of insurance can vary, and in Baltimore, a person could pay as little as $317 per month for a silver health insurance plan.


valuepenguin obtained health insurance information for 2022 in maryland from the state health insurance exchange. Using the premiums, we averaged the data and found the cheapest options for a variety of variables such as metal level, age, family size, and county.

See also: Changing Your Coverage

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