Health Insurance Plans in Oregon

Five health insurance companies in Oregon offer policies on the state exchange. These companies offer Catastrophic, Bronze, Expanded Bronze, Silver, and Gold plans. Many residents select Silver plans when looking for cheap health insurance in Oregon. Silver plans sit at the middle of the metal tier system and offer a nice combination of affordable premiums and reasonably low out-of-pocket costs. The cheapest Silver tier plan depends on where you live. It could be the KP OR Silver 3500/30, Providence Oregon Standard Silver Choice Network, or Providence Oregon Standard Silver Signature Network plan, depending on your county of residence. Learn more about health insurance plans in Oregon before selecting coverage.

Cheap Health Insurance Plans in Oregon By Metal Tier

The search for cheap health insurance in Oregon can seem overwhelming, so it’s a good idea to start the process by looking at the most affordable plans by metal tier. Even if the cheapest plan in your desired tier is not available in your county, you will still have a better understanding of the premiums and coverage you can expect. That information will help you choose an affordable plan.

These quotes are based on an average 40-year-old Oregon resident.

The cheapest Catastrophic plan is the KP OR Catastrophic 7350/0. The monthly premium is $274, and the deductible and the out-of-pocket maximum are $7,350.

The KP Oregon Standard Bronze HSA Plan is the cheapest of the Bronze health insurance plans in Oregon. This plan has a monthly premium of $271 and a deductible and an out-of-pocket maximum of $6,550.

The Moda Health Beacon Bronze 6250 is the cheapest Expanded Bronze plan. It has a monthly premium of $346, a deductible of $6,250, and an out-of-pocket maximum of $7,350.

The cheapest Silver plan is the KP OR Silver 3500/30. The monthly premium is $375, the deductible is $3,500, and the out-of-pocket maximum is $7,350.

You can also get a Gold tier plan in Oregon. The most affordable is the KP OR Gold 1000/20. It has a monthly premium of $401, a deductible of $1,000, and an out-of-pocket maximum of $7,000.

As you can see, the metal tier you select affects how much you will pay for health insurance. Your age also affects the price you’ll pay. Sixty-year-olds pay an average of $548 more a month for a Gold plan and $499 more a month for a Silver plan when compared to a 40-year-old. You can get a health insurance quote based on your age to determine how much you will have to pay for coverage.

Choosing Health Insurance Plans in Oregon

Looking at the cheapest plans by tier is the first step when comparing health insurance plans in Oregon. Next, it’s important to determine the metal tier that is best for you. The plan with the most affordable premium might not be the right choice due to the out-of-pocket costs. Examine the metal tiers to have a better understanding of which will save you the most money throughout the year.

Gold Plans – Ideal for High Medical Costs

When you look for cheap health insurance in Oregon, you might not consider a Gold plan. After all, the plans in this tier have the highest premiums, so it’s understandable to think these policies are the most expensive. However, if you anticipate high medical costs throughout the year, a Gold plan might actually be the most affordable. Gold plans pay an average of 80 percent of medical expenses. If you require a lot of medication or need ongoing care for a chronic condition, one of these plans is likely the most affordable option.

Silver Plans – Ideal for Average Medical Costs and Low Incomes

Silver plans are very popular in Oregon. With premiums that are lower than Gold plans and out-of-pocket expenses that are lower than Catastrophic and Bronze plans, Silver policies offer the best of both worlds for many Oregon residents. The premiums are affordable, and the out-of-pocket expenses are manageable. For example, you would pay a $6,500 deductible if you had the Providence Oregon Standard Bronze HSA Signature Network Plan. Compare that to the $2,500 deductible for the Providence Oregon Standard Silver Choice plan, and it’s clear that the out-of-pocket expenses are much more manageable.

Silver tier plans are also the only policies that are eligible for cost-sharing reduction subsidies. Low-income households can get one of these subsidies to reduce their out-of-pocket expenses. Without a subsidy, Silver plans cover around 70 percent of health care costs. With a subsidy, these plans can cover up to 94 percent of costs.

Catastrophic and Bronze Plans – Ideal for Healthy, Young People

If you are under the age of 30 or qualify for an exemption, you can get a Catastrophic plan. There aren’t any restrictions for Bronze plans, though. Plans in both tiers have low premiums, but the out-of-pocket costs can be prohibitive. Only consider a Bronze or Catastrophic plan if you are healthy and young. You should also have money in savings to pay for out-of-pocket expenses since these plans only cover an average of 60 percent of health care costs.

Short-term Health Insurance in Oregon

There is no open enrollment period for short-term health insurance in Oregon, so plans are available for purchase any time of the year. These plans are not available on the state’s marketplace, however.

Short-term health insurance in Oregon can only be issued for up to three months. These policies only provide minimum coverage and don’t offer many of the essential benefits people get with permanent policies. Also, due to underwriting guidelines, you might not get approved if you have a pre-existing condition. Still, they can provide some coverage temporarily, so if you need a short-term policy, you can get a quote from one of the health insurance companies in Oregon.

Get Help Comparing Health Insurance Plans in Oregon

With so many health insurance plans in Oregon, choosing one can be a challenge. Consider your health, income, and geographic location when choosing a plan. Get the help you need by calling 1-888-497-1683. A licensed insurance agent will walk you through the process and help you select a plan that provides the right amount of coverage at a price you can afford.

Information on Oregon Health Insurance Plans