Health Insurance Plans in Arizona

Are you interested in cheap health insurance in Arizona? There are lots of options available through the state marketplace, although availability is based on location. There are two health insurance companies in Arizona that operate on the exchange. You can choose from Blue Cross and Blue Shield of Arizona Inc. or Health Net of Arizona, Inc. (Ambetter), depending on where you live.

Ambetter Balanced Care is the top cheap healthcare policy for people in Pima and Maricopa counties, while EverydayHealth HMO 4000 from Blue Cross Blue Shield of Arizona is the top option throughout the rest of the state. The state’s Medicaid expansion also offers coverage for low-income families.

Before you pick up a policy, it’s important to learn more about health insurance plans in Arizona. That way, you can look beyond the cost and find a policy that also provides the coverage you need.

Cheap Health Insurance Plans in Arizona by Metal Tier

When you shop for health insurance plans in Arizona, you’ll realize plans are divided into metal tiers. The Catastrophic and Bronze tiers offer the lowest premiums but have the highest out-of-pocket costs, while the Gold tier has the highest premiums and lowest out-of-pocket costs.

Let’s look at the cheapest health insurance in each tier. These estimates are based on the average 40-year-old Arizona resident.

If you want catastrophic health insurance, SimpleHealth HMO – Neighborhood Network is the cheapest. The average monthly cost is $248.84, and the deductible and the out-of-pocket maximum is $7,350.

If you are searching for cheap health insurance in Arizona and want a Bronze plan, consider the Ambetter Essential Care 2 HSA. The average monthly premium is $286.56, and the deductible and the out-of-pocket maximum is $6,550.

Arizona also offers an Expanded Bronze plan. The EverydayHealth HMO 6500 – Neighborhood Network is the cheapest, with an average monthly premium of $402.74. The deductible is $6,500 and the out-of-pocket maximum is $7,350.

Ambetter Balanced Care 4 is the cheapest Silver plan, with a deductible of $332.11. The deductible and the out-of-pocket maximum are $7,050. This is one of the most popular health insurance plans in Arizona.

Ambetter Secure Care 4 is the most affordable Gold tier plan. The premium is $438.01 a month. The deductible is only $1,400, and the out-of-pocket maximum is $5,750.

While these are the average costs, other factors come into play, including your age. If you are 60 years old and get the Silver plan, you can expect to pay 112 percent more each month for the premium. On the other hand, if you are 21, you can expect to pay 22 percent less. That’s why it’s so important to compare quotes before purchasing health insurance plans in Arizona.

How to Find the Best Health Insurance Plan in Arizona

When selecting a health insurance plan, you need to consider your situation. If your income is 138 percent below the federal poverty level, you can apply for the expanded Medicaid program. If you don’t qualify for Medicaid, you still might be eligible for a federal subsidy to offset the cost of insurance.

You also need to consider your age and your health. Look at the different tiers to see which option is the right one for you.

Gold Plans — Ideal for High Medical Costs

If you rely heavily on your health insurance, consider a Gold plan from one of the health insurance companies in Arizona. The premiums are an average of 27 percent higher than what you will pay for a Silver plan, but your out-of-pocket expenses will be significantly lower. These plans come with lower deductibles, coinsurance, and copays, and the prescription coverage is usually better than with other plans.

Silver Plans — Ideal for Average Medical Costs and/or Low Incomes

Low-income households often choose Silver plans because they are eligible for a cost-sharing reduction that will pay some of the out-of-pocket costs. These plans are also a good option for people with average medical costs. The premiums are affordable, and the out-of-pocket expenses are much lower than with Catastrophic or Bronze plans.

Catastrophic and Bronze Plans — Ideal for Healthy Young People

If you are under the age of 30 and very healthy, you might want to consider a Catastrophic plan. These plans have cheap premiums but high out-of-pocket costs and limited coverage. Bronze plans also boast low premiums, but you can expect to pay high out-of-pocket expenses. That’s why these health insurance plans in Arizona are only a good option if you are young and healthy.

Short-term Health Insurance in Arizona

If you currently don’t have health insurance due to a job loss or another issue, you might be interested in short-term health insurance in Arizona. Short-term policies are governed by federal regulations that prevent policies for lasting for longer than 12 months, although people do have the option to renew when the policy expires. While the federal government limits these policies to one year, Arizona has a six-month limit in place. You can renew the policy one time after the six-month period is up.

Short-term health insurance policies do not provide as much coverage as standard policies do. For instance, your policy likely won’t cover mental health care or maternity care, and most don’t have prescription drug coverage. These plans do not meet the guidelines set forth by the Affordable Care Act so they cannot be sold on the state marketplace. However, these plans do serve their purpose. For instance, if you missed open enrollment and need coverage to tide you over, short-term health insurance can help. You can also get a plan if you want low premiums while you save money for a more expensive plan with better coverage.

Get Help Comparing Health Insurance Plans in Arizona

With two health insurance companies in Arizona offering a variety of policies on the state exchange, choosing the right option can be difficult. You want the best coverage you can get, but you also don’t want to spend more than you can afford. Find the right policy by speaking to a licensed insurance agent. Call 1-888-497-1683 to compare quotes and find the policy that meets your needs.