Knowledge — 3 months ago

Best Health Insurance Companies in Virginia

by Eddie V.

Health Insurance Virginia, Virginia Health Insurance

What are the Best Health Insurance Options in Virginia?

Residents looking for good health insurance plans in the state of Virginia can find suitable and affordable options at the Virginia Health Insurance Marketplace. Overall, the two companies that offer the cheapest and best health plans for a certain amount of coverage and on a premium basis are the Kaiser Foundation and Cigna. People interested in paying lower premiums should consider these health insurance providers.

In almost half of the Virginia counties, the Anthem HealthKeepers Silver X 6100 had the most affordable premium payments of all the Silver plans. Anthem HealthKeepers also covers the largest area with a total service area of 68 Virginia counties overall. All the other health insurance providers cover less than half the counties in the Virginia state. The next highest is the Optima, which only serves 30 Virginia counties.

Health Insurance Virginia

Cheapest Health Insurance Providers by Metal Tier

Various health insurance plans in Virginia can be compared by a metal tier to help you find the best plans for your needs and chosen levels of coverage. Not all insurers offer coverage in every county, so not all the plans that are listed may be available in your residential area. The metal tiers include catastrophic, bronze, expanded bronze, silver, gold, and platinum.

Within a given tier of coverage, your health insurance premium costs will depend on your income and age. For example, a 60-year-old Virginia resident would pay 112% higher premium rates for the same amount of medical coverage than a 40-year-old would. But the health insurance premiums of a 21-year-old would be 22% cheaper than that of a 40-year-old.


Finding the Best Health Insurance Coverage in Virginia

The overall best and cheap health insurance plan in Virginia would depend on your age, health status, and income. Individuals with higher expected medical costs can pay in total by choosing a health plan that has slightly higher premiums—such as a Gold policy—out-of-pocket costs being lower.

Virginia Health Insurance
Start by Browsing Silver Plans

For all people except those who are the healthiest, it is suggested that you search for suitable health insurance plans by looking at the Silver level plans. Generally, the silver level plans have slightly higher monthly premiums than other plans, but they come with substantially lower cost-sharing ratios than Bronze or Catastrophic health plans. Furthermore, they are the only health insurance plans that are eligible for additional subsidies for reductions in cost-sharing.

Consumers who have periodical medical bills will immediately enjoy the benefits of much lower out-of-pocket expenses. The way cheaper out-of-pocket deductibles and maximums will limit your risk of larger payments, should you require immediate medical care. Silver plans are the best health insurance plans usually in Virginia, as they strike a good balance between out-of-pocket costs and premiums.

Cheap Bronze Plans Are the Best for Healthy People

While Bronze plans come with the advantage of lower premiums, this is only a part of the overall cost of healthcare. Bronze plans will have higher deductibles and out-of-pocket costs, meaning if you need treatment, the total cost may be higher. The Bronze and Catastrophic plans generally are an overall cheaper option for consumers who are healthier and who have less need for periodical medical care.

Best Cheap Health Insurance Companies in Virginia

Currently, there are seven health insurance companies in Virginia that offer health insurance plans compliant with the Affordable Care Act, through the Virginia exchange, which is four fewer than last year. The companies offering the best health insurance plans in Virginia this year are:

  • Cigna Health and Life Insurance Co.
  • CareFirst BlueChoice Inc.
  • HealthKeepers Inc.
  • Group Hospitalization and Medical Services Inc.
  • Optima Health Plan
  • Piedmont Community HealthCare HMO Inc.


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