Health Insurance Plans in Florida

Various insurance companies provide plans on the Florida health insurance marketplace. Some health insurance companies in Florida only serve a specific area, while others offer policies to people all over the state. Celtic Insurance/Ambetter offers its products in 22 counties, and these policies tend to be the cheapest.

If you don’t live in one of the 22 counties, you can still get cheap health insurance in Florida from Blue Cross and Blue Shield of Florida. This insurer serves every county in the state and offers affordable coverage. In fact, the BlueOptions Silver 1410 plan is one of the most popular health insurance plans in Florida.

Cheap Health Insurance Plans in Florida by Metal Tier

Health insurance companies in Florida categorize policies by metal tier. Each tier has its own pricing structure and coverage. These are the cheapest plans available by tier on the Florida health insurance marketplace. The quotes provided are based on the average costs for a 40-year-old living in Florida.

  • First, there is the Catastrophic tier. Health First GYM ACCESS Catastrophic HMO 1746 is the most affordable plan, with a monthly premium of $189. The deductible and out-of-pocket maximum are $7,350.
  • Bronze is the next tier available on the marketplace. If you want the most affordable Bronze plan in Florida, get the IND Bronze HMO 1340. The monthly premium is $278, and the deductible and out-of-pocket maximum are $7,350.
  • The state of Florida also offers an Expanded Bronze tier, with the IND Bronze Standardized HMO the most affordable plan in that category. The monthly premium is $288. The deductible is $6,650, and the out-of-pocket maximum is $7,350.
  • The Silver tier is next on the list. Ambetter Balanced Care 5 is the plan of choice for those who want to spend the least amount of money possible on a Silver tier plan. The monthly premium is $405, and the deductible and out-of-pocket maximum are $7,350.
  • Ambetter is also the provider of choice for the Gold tier. The Ambetter Secure Care 3 with 3 Free PCP Visits has a monthly premium of $435 and a deductible of $1,000. The out-of-pocket maximum is $6,350.
  • The Platinum tier has the most expensive premiums and lowest out-of-pocket costs. The cheapest of the Platinum plans is the IND Platinum HMO BC 5841. The monthly premium is $552, the deductible is $800, and the out-of-pocket maximum is $2,500.

Plans are only available in certain locations so you might not be able to get the cheapest plan in a specific tier. Your age will also impact how much you pay. For example, 60-year-olds pay an average of 112 percent more on premiums than 40-year-olds do. When you compare health insurance plans in Florida, you can get a better idea of how much you will have to pay as you age.

How to Find the Best Health Insurance Plan in Florida

It’s common to get stuck on the idea of looking for cheap health insurance in Florida, but you need to consider more than the price. You must also consider your overall health before picking a plan. Look at the different tiers to get a better idea of which of the health insurance plans in Florida you should choose.

Gold and Platinum Plans — Ideal for High Medical Costs

Gold and Platinum plans provide the best coverage. These plans might have higher premiums, but they make up for it with the low out-of-pocket costs. Your coinsurance will pay a large portion of your healthcare costs; saving you money in the long run.

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

Silver plans sit in the middle of the tiers and offer a nice blend of affordable premiums and reasonable out-of-pocket costs. If you are of average health, these plans should be a good fit for you.

Silver plans also provide cost-sharing reductions for people who have an income that is below 250 percent of the federal poverty level. If you qualify for such a deduction, you could easily get the same type of coverage you would receive with a Gold or Platinum plan, but at a much lower cost.

Catastrophic and Bronze Plans — Ideal for Healthy Young People

If you are young and healthy, a Catastrophic or Bronze plan might be ideal. The low premiums mean you won’t break the bank every month, but you do need to remember these plans have high out-of-pocket costs. That is why it’s essential that you are healthy. If you need to visit the doctor often, these plans will be quite costly. You also need to plan ahead for emergency care, or you could get stuck with a large hospital bill you can’t afford.

Short-term Health Insurance in Florida

Short-term health insurance in Florida is regulated by federal guidelines. These guidelines only allow you to obtain coverage for 12 months. When the coverage expires, you can renew it, but the renewal cannot exceed 36 months.

As in other states, short-term health insurance in Florida does not meet the guidelines set forth by the Affordable Care Act. That means these policies cannot be sold on the healthcare exchange. These short-term policies don’t cover a variety of services, such as mental health and hospitalization. However, these policies can be beneficial if you missed open enrollment or lost your employer-sponsored coverage. Keep in mind that these policies are just meant to be a short-term fix.

Get Help Comparing Health Insurance Plans in Florida

Looking for health insurance plans in Florida can feel overwhelming. The goal is to find coverage that is both affordable and practical.  A licensed insurance agent can help you with that. Call 1-855-881-0430 today and speak with an insurance agent who will go over the various health insurance plans and companies available to you.