Health Insurance Plans in Wisconsin
Eleven health insurance companies in Wisconsin offer policies on the state’s insurance marketplace. This is a much larger selection than in most states, meaning you have many options for health insurance. These insurance companies offer plans in six metal tiers, and the price and out-of-pocket expenses vary by tier. People who want reasonable premiums and affordable out-of-pocket costs typically choose Silver plans. Envision Aurora Bellin ThedaCare CHHS – Silver 5500/80, Select $6,000 – 30%, and Dean Silver Copay Plus 3250X are the most affordable of these plans for most people in the state.
Cheap Health Insurance Plans in Wisconsin by Metal Tier
Wisconsin insurance companies offer Catastrophic, Bronze, Expanded Bronze, Silver, Gold, and Platinum plans. It’s much easier to find cheap health insurance in Wisconsin when you look at the most affordable plans for each metal tier. Some of these plans might not be available in your county, but these quotes will give you a better understanding of how much you can expect to pay. The quotes listed are based on an average 40-year-old Wisconsin resident.
Dean Catastrophic Safety Net is the cheapest Catastrophic plan available in the state. The monthly premium is $233.90, and the deductible and the out-of-pocket maximum are $7,350.
MercyCare HMO Bronze Option C has a monthly premium of $250.08, making it the most affordable of the Bronze health insurance plans in Wisconsin. The deductible and the out-of-pocket maximum are $6,550.
MercyCare HMO Bronze Option D Simple Choice Plan is the most affordable Expanded Bronze offering. The monthly premium is $262.44, and the deductible and the out-of-pocket maximum are $6,000.
If you want a Silver plan, MercyCare HMO Silver Option C is the most affordable. The monthly premium is $384.51, and the deductible and the out-of-pocket maximum are $4,000.
You can reduce your out-of-pocket costs by getting the cheapest Gold tier plan. Dean Focus Network Gold Value Copay 3500X has a monthly premium of $370.52. The deductible and the out-of-pocket maximum are $3,500.
Select Platinum 500 Ded/3000X MOOP has the lowest premium of all the Platinum plans. The monthly premium is $528.24, the deductible is $500, and the out-of-pocket maximum is $1,000.
Premium prices increase as you age, but the amount of the increase depends on the metal tier you select. For example, 21-year-olds pay an average of $129 less than 40-year-olds for Silver plans, but they only pay $93 less for Bronze plans. Get a quote to find out exactly how much you will pay for coverage.
Choosing Health Insurance Plans in Wisconsin
If you are on the hunt for cheap health insurance in Wisconsin, you can look at plans with low premiums or you at more expensive plans with lower out-of-pocket costs. Examine the metal tiers and the coverage each one provides. Then, you’ll be ready to get quotes for health insurance plans in Wisconsin tailored to your needs.
Gold and Platinum Plans – Ideal for High Medical Costs
If you use your health care benefits regularly, it’s critical to choose a plan with low out-of-pocket costs. Gold plans cover around 80 percent of expenses, and Platinum plans cover even more. You will have to pay more for your premium each month, but you can still save money when you factor in the low out-of-pocket costs.
Silver Plans – Ideal for Average Medical Costs and Low Incomes
If you are of average health, you likely don’t need one of the Gold or Platinum health insurance plans in Wisconsin. Instead, plans in the Silver tier are more appealing. These plans cover around 70 percent of medical expenses, and the premiums are quite lower than they are with Gold and Platinum plans. That makes these plans a good fit for many people in Wisconsin.
Silver plans are also the only ones that qualify for cost-sharing reduction subsidies. These subsidies are available to low-income households and cover a large portion of health care expenses. If you get a subsidy, your Silver plan will cover as much as 94 percent of your costs, leaving you with a mere 6 percent to pay. That means your out-of-pocket costs will be less than they would be with a Gold or Platinum plan.
Catastrophic and Bronze Plans – Ideal for Healthy, Young People
If you are young and in superb health, choosing one of the health insurance plans in Wisconsin with a low premium might be the smart choice. You can only get a Catastrophic plan if you are under the age of 30 or qualify for an exemption, but anyone can get Bronze plans.
The low premiums make these plans affordable every month, but you need to be mindful of the high out-of-pocket costs. Bronze plans cover around 60 percent of expenses and Expanded Bronze plans cover around 65 percent. If you can’t cover the high out-of-pocket expenses, consider a Silver plan instead.
Short-term Health Insurance in Wisconsin
Short-term health insurance in Wisconsin is available off the state exchange. Companies can issue these policies for an initial term of one year. You can renew your policy for up to 18 months, but after that, you will have to get a permanent policy.
These plans don’t meet the guidelines put in place by the Affordable Care Act. You can be turned down if you have a pre-existing condition, and the policies don’t cover essentials such as prescription drugs and maternity care. These plans do not offer the same benefits as permanent insurance, but they are helpful if you can’t get a permanent policy right now.
Get Help Comparing Health Insurance Plans in Wisconsin
Health insurance plans in Wisconsin are plentiful, and that can make choosing one difficult. You want to find a policy that offers the right amount of coverage at an affordable price. Instead of searching for a policy on your own, call 1-855-881-0430 to speak to a licensed insurance agent. The agent will ask you some questions, provide quotes and explain the coverage each policy offers to help you make the best decision.