Health Insurance Plans in Oklahoma

Only one of the health insurance companies in Oklahoma offers plans on the state’s health insurance exchange. BlueCross BlueShield of Oklahoma offers a variety of policies by metal tier. Blue Preferred Silver PPO 201 and Blue Advantage Silver PPO 204 are the two cheapest Silver tier plans in the state. Regardless of where you live in Oklahoma, you will have access to one of these plans. Before you pick up one of the health insurance plans in Oklahoma, look at the plans by metal tier and learn about the coverage you need.

Cheap Health Insurance Plans in Oklahoma By Metal Tier

The search for cheap health insurance in Oklahoma should begin by analyzing the most affordable plan for each metal tier. The premium and out-of-pocket costs depend on the metal tier you select. You can choose from Catastrophic, Bronze, Silver, and Gold plans in this state. These quotes are based on an average 40-year-old Oklahoma resident.

Blue Preferred Security PPO 200 is the cheapest Catastrophic plan. The monthly premium is $392.31 and the deductible and the out-of-pocket maximum are $7,350.

The Bronze tier is a step up from the Catastrophic tier. However, the cheapest Bronze plan is more affordable than the cheapest Catastrophic plan. The Blue Advantage Bronze PPO 202 is the cheapest Bronze tier plan, with a monthly premium of $371.47, a deductible of $4,700, and an out-of-pocket maximum of $7,350.

The Silver tier is next on the list. The Blue Advantage Silver PPO 204 is the most affordable of the Silver health insurance plans in Oklahoma. The monthly premium is $499.63, the deductible is $1,400, and the out-of-pocket maximum is $7,350.

If you want cheap health insurance in Oklahoma but also want to limit your out-of-pocket costs, the Blue Preferred Gold PPO 205 is an excellent option. This is the most economical Gold plan, and it has a monthly premium of $638.91, a deductible of $200, and an out-of-pocket maximum of $7,350.

Age and metal tier have the most impact on how much you’ll pay for one of the health insurance plans in Oklahoma. Gold plans have a higher monthly premium than Silver and Bronze plans, and the amount you pay will increase across all metal tiers as you age. A 60-year-old Oklahoma resident will pay a considerably higher premium than a 21-year-old resident. You can get health insurance quotes to determine how much you will pay for your insurance.

Choosing Health Insurance Plans in Oklahoma

If you are interested in cheap health insurance in Oklahoma, it’s reasonable to want to purchase the first plan you see with a low premium. However, the premium is only one factor to consider regarding the plan’s cost. You also need to consider your overall health. If you use your insurance regularly, high out-of-pocket costs can make it difficult for you to get the care you need. You should consider a plan with a higher premium and lower out-of-pocket costs.

On the other hand, if you are young and healthy, paying a high premium for coverage you rarely use doesn’t make sense. You would benefit from getting a plan with a lower premium and higher out-of-pocket costs. To better understand this, take a closer look at the metal tiers.

Gold Plans – Ideal for High Medical Costs

Gold plans have the highest premiums of all the metal tiers, and that causes many people to think they are overly expensive. A 40-year-old Oklahoma residents can expect to pay an average of $656 a month for one of these plans. However, the average deductible is only $200. It is very easy to meet the deductible, and the low copays limit the out-of-pocket costs even more. If you have a lot of health care needs, a Gold-tier plan is likely your best option for cheap health insurance in Oklahoma.

Silver Plans – Ideal for Average Medical Costs and Low Incomes

Silver plans sit in the middle of the tier system and are known for affordable monthly premiums and reasonable out-of-pocket costs. You can expect to pay less on your premium than you would with a Gold plan, but you can also expect lesser out-of-pocket costs than you would have with a Bronze or Catastrophic plan.

Silver plans are also eligible for cost-sharing reduction subsidies. These subsidies are available to low-income households and reduce out-of-pocket costs dramatically. Without a subsidy, Silver plans usually cover 70 percent of health care expenses. With a subsidy, these plans pay up to 94 percent of expenses.

Catastrophic and Bronze Plans – Ideal for Healthy, Young People

Catastrophic and Bronze plans sit at the bottom of the tier system. The premiums are much lower than they are with Silver and Gold plans, but the out-of-pocket costs are much higher. Bronze plans are available to everyone in Oklahoma, while Catastrophic plans are only available to people under the age of 30, as well as those who qualify for an exemption. Only get one of these plans if you are young, healthy, and have enough money in savings to cover the out-of-pocket costs in case of a medical emergency.

Short-term Health Insurance in Oklahoma

If you are between jobs or have missed the Open Enrollment Period, you can get short-term health insurance in Oklahoma. Health insurance companies in Oklahoma offer these plans off the state exchange. Short-term health insurance in Oklahoma is only available for six months and cannot be renewed. These plans are not guaranteed-issue, meaning the plans go through the underwriting process. You can be turned down for short-term insurance for a variety of reasons, including pre-existing conditions. If you do get the coverage, understand that the plan won’t include many of the essential benefits you’ve come to expect with health insurance. For example, short-term plans rarely include mental health coverage and maternity care. Go over the plan’s benefits before making a selection.

Get Help Comparing Health Insurance Plans in Oklahoma

Choosing among the health insurance plans in Oklahoma can seem overwhelming. Instead of trying to decide on your own, call 1-888-497-1683 to speak to a licensed insurance agent who can help you navigate the health insurance realm.

Information on Oklahoma Health Insurance Plans