Health Insurance Plans in Louisiana

Various health insurance companies in Louisiana offer policies on the state exchange. The policies that are available depend on where you reside. If you’re looking for cheap health insurance in Louisiana, you might choose the Community Blue Copay 70/50 $2,100, Blue POS 80/60 $3,200, or another plan, again depending on where you live. Learn more about the health insurance plans in Louisiana to determine which one you should select.

Cheap Health Insurance Plans in Louisiana by Metal Tier

When comparing health insurance plans in Louisiana, start with the most affordable plans for each metal tier. This is an excellent starting point, as it shows you how much you can expect to pay for cheap health insurance in Louisiana.

The quotes provided are based on the average monthly cost for a 40-year-old Louisiana resident. Keep in mind that the prices of the policies vary depending on where you live.

Bronze level plans are the most economical option in Louisiana. Blue Connect 70/50 $4,500 is the most affordable of the Bronze plans, with a monthly premium of $333. The deductible is $4,500, and the out-of-pocket maximum is $7,350.

Louisiana also offers Expanded Bronze plans. The Essential Individual Bronze 6500 is the cheapest with a monthly premium of $451. The deductible is $6,500, and the out-of-pocket maximum is $7,350.

Silver plans are very popular in Louisiana. The Blue Connect 80/60 $3,200 is the cheapest plan. The premium is $396, the deductible is $3,200, and the out-of-pocket maximum is $6,600.

The cheapest Gold plan is the Community Blue Copay 80/60 $1,000. It has a monthly premium of $509. The deductible is $1,000, and the out-of-pocket maximum is $7,350.

You can also get a Platinum tier plan in Louisiana. The Freedom Individual Platinum plan is the most affordable, with a monthly premium of $777. This plan does not have a deductible, and the out-of-pocket maximum is $1,500.

The metal tier, as well as your age, determine the cost of the plan you select. When you reach the age of 60, you can expect to pay 53 percent more than a 40-year-old pays. On the other hand, if you are 21, you will pay significantly less each month when compared to a 40-year-old Louisiana resident.

Choosing Health Insurance Plans in Louisiana

Gold and Platinum plans have the highest premiums but the lowest out-of-pocket costs, while Bronze level plans have the lowest premiums and highest out-of-pocket costs. Silver plans sit in the middle, providing affordable premiums and reasonable out-of-pocket costs.

While you might want to choose a plan based on the premium alone, you should consider your health and needs before selecting a policy. Examine the different metal tiers to determine the type of policy that is best for you. Then you will be one step closer to finding the right insurance policy.

Platinum and Gold Plans – Ideal for High Medical Costs

Platinum and Gold plans provide the lowest out-of-pocket costs. Gold plans cover around 80 percent of healthcare costs, while Platinum plans cover an average of 90 percent of medical costs. These plans are meant for people who have lots of medical expenses. For instance, Platinum and Gold tier policies are recommended for people who have chronic health conditions or who require a lot of prescription medication. The premiums might be higher, but the low out-of-pocket costs make up for it if you need a considerable amount of medical attention.

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

Silver plans offer a middle ground between high metal tier and low metal tier plans. The premiums are more affordable than Gold and Platinum plans, and the out-of-pocket costs are lower. Silver plans usually cover 70 percent of healthcare costs.

Your plan might cover even more if you’re part of a low-income household. Many low-income individuals and families qualify for cost-sharing reduction subsidies that reduce out-of-pocket costs significantly. If you are eligible for a cost-sharing reduction subsidy, your Silver plan might cover as much as 94 percent of your medical expenses.

Bronze Plans – Ideal for Healthy Young People

If you are young and healthy, the idea of paying $500 or more each month on health insurance won’t make financial sense. If you are less likely to utilize insurance, a Bronze or Expanded Bronze plan might be a good fit. Bronze plans cover around 60 percent of medical expenses, and Expanded Bronze plans cover approximately 65 percent of expenses.

It’s imperative to consider the deductible before purchasing a Bronze plan. The lowest deductible is $4,500. That is more than double the lowest deductible for a Silver plan. If you choose one of these plans, you need a savings account that can cover the out-of-pocket expenses. Hopefully, you won’t need to dip into it, but it will be nice to have it there in case you have a medical emergency.

Short-Term Health Insurance in Louisiana

If you need temporary coverage, you can get short-term health insurance in Louisiana. The federal government and the state of Louisiana regulate these policies. Louisiana residents can only get coverage for up to six months, but the policies can be renewed for up to 36 months.  These policies don’t cover pre-existing conditions or various health needs, such as maternity care. They are only meant to be used to tide you over while looking for other health insurance plans in Louisiana.

Get Help Comparing Health Insurance Plans in Louisiana

If you’ve looked at the various health insurance plans in Louisiana, and need guidance selecting the appropriate tier, call 1-855-881-0430; a licensed insurance agent will help you compare policies and determine the right policy for you.