Summary: Best Health Insurance In Illinois
Best Health Insurance Companies In Illinois
Cheapest Health Insurance by Plan Type in Illinois
Health insurance companies with health plans on the Affordable Care Act (ACA) marketplace may offer four types of health plans. Illinois insurers provide three types: preferred provider organization (PPO), health maintenance organization (HMO) and point of service (POS) plans.
- Cheapest PPO in Illinois: Aetna CVS Health
- Cheapest HMO in Illinois: Oscar Health Plan, Inc.
- Cheapest POS in Illinois: Health Alliance
How Much Does Health Insurance Cost in Illinois?
Health insurance costs in Illinois will vary by age, location, metal tier chosen, smoking status and the plan type you choose. Your health and gender aren’t factors in premiums when you buy a health insurance policy from the Affordable Care Act marketplace.
Cost of HMO Plans in Illinois
Our analysis found that HMOs average $601/month in Illinois. Here are average premiums among the best health insurance companies in Illinois.
| Company | HMO cost per month | Learn More |
|---|---|---|
| UnitedHealthcare | $571 | On Healthcare.com's Website |
| Cigna Healthcare | $538 | On Healthcare.com's Website |
| Molina Healthcare | $525 | On Healthcare.com's Website |
Cost of Health Plans by Metal Tier in Illinois
Silver health plans cost an average of $662/month in Illinois. Here’s a look at premiums among the top-scoring Illinois health plans in our analysis.
| Company | Bronze or Expanded bronze plan cost per month | Silver plan cost per month | Gold plan cost per month | Learn More |
|---|---|---|---|---|
| UnitedHealthcare | $471 | $574 | $668 | On Healthcare.com's Website |
| Cigna Healthcare | $488 | $555 | $647 | On Healthcare.com's Website |
| Molina Healthcare | N/A | $492 | $569 | On Healthcare.com's Website |
Average Cost of Bronze Plans in Illinois at Age 27
ACA law allows children to stay on a parent’s health plan until age 26. After that, they may need their own plan from the state’s health insurance marketplace. Since younger people usually need less healthcare, we looked at average prices for bronze plans at age 27 in Illinois. Overall, expect to pay an average of $453 a month for a bronze plan at age 27.
Average Cost of Silver Plans in Illinois at Age 40
Silver plans are the most popular health plan tier and have an average cost of $566 a month for 40-year-olds in Illinois. Here’s a look at the average costs by county.
Average Cost of Gold Plans in Illinois at Age 60
Before you’re eligible for Medicare at age 65, you may be looking for a good health plan. Gold plans can be a smart choice for older people who may require more healthcare. The average cost for a gold plan at age 60 in Illinois is $1,347 a month. Here’s how average costs look in Illinois counties.
How to Find the Best Health Insurance Plan in Illinois
Platinum Plans: Good for People Who Expect to Need Frequent Healthcare
Platinum plans are the priciest ACA marketplace plans and they’re also the most rare. Less than 10% of ACA plans are platinum plans, so there’s a good chance you might not even be able to buy one.
If a health insurance company in your area offers platinum plans, these types of plans may work for you if you need regular healthcare and multiple expensive prescriptions. These plans have low health insurance deductibles and coinsurance, so you pay less when you receive healthcare. But they also have the most expensive premiums, so you pay the most to have coverage each month.
Gold Plans: Good for People Who Want Lower Out-of-Pocket Costs
Gold plans have lower out-of-pocket costs than silver or bronze plans, but they come with higher health insurance premiums. If you expect to get regular healthcare, a gold plan could be a good option since you will pay less when you need care than if you have a silver or bronze plan.
You’ll want to weigh the cost of premiums with the out-of-pocket costs like coinsurance and deductibles when you’re choosing an ACA plan.
Silver Plans: Good for People Who Are Looking to Balance Premiums and Out-of-Pocket Costs
If you don’t want very high deductibles but also don’t want to spend a fortune on premiums, a silver plan might be a savvy choice. Silver plans have lower out-of-pocket costs than bronze plans and lower premiums than platinum and gold plans, which make them a good compromise.
Silver and bronze plans are the most common ACA plans offered, so you shouldn’t have a problem finding a silver plan in your area.
Bronze Plans: Good for People Looking for the Lowest Premiums
Bronze plans are the best choice if you don’t use healthcare often and want the cheapest coverage. The downside is that bronze plans have higher out-of-pocket costs when you get healthcare.
If you’re looking for the cheapest health plans that still offer comprehensive coverage, a bronze plan could be a smart option.
Some health insurers also offer “expanded bronze” plans. These plans feature higher coinsurance levels for in-network care (up to 65%) than standard bronze plans (average of 60%).
More: Bronze, Silver, Gold or Platinum Health Insurance
Catastrophic Plans: Good for Young People Who Don’t Often Need Healthcare
The ACA marketplace offers catastrophic health insurance to people under age 30 and those dealing with severe economic issues like homelessness. If you’re eligible for a catastrophic plan, you may like the low monthly premium but watch out for the high out-of-pocket costs.
One thing that makes catastrophic plans different from other health insurance policies is that they don’t have coinsurance. Instead, you’ll have to deal with an extremely high deductible when you receive care. Once you’ve spent that deductible amount on healthcare, a catastrophic plan pays the rest of your in-network healthcare costs for the year.
Methodology
We analyzed Affordable Care Act marketplace health insurance companies in Illinois to determine the best options. Our ratings are based on:
- Average premiums (30% of score): We calculated average premiums for health insurance companies that offer ACA plans in Illinois. Averages were based on premiums for buyers ages 21, 27, 30, 40, 50 and 60. Source: HealthCare.gov.
- Complaints made to state insurance departments (30% of score): We used complaint data from the National Association of Insurance Commissioners.
- Average silver plan deductible (20% of score): The deductible is how much you have to pay for healthcare in a year before the health plan begins picking up a portion of the costs. Companies with health plans that had low deductibles got more points. Source: HealthCare.gov.
- Breadth of health plans (10% of score): Health insurance companies may offer up to four types of plan benefit designs (PPO, HMO, EPO and POS). We gave points to companies that offer more types of plans. Source: HealthCare.gov.
- Metal tier offerings (10% of score): The ACA marketplace has four metal tier levels. We gave points to companies that offered more tier options. Source: HealthCare.gov.
Read more: How Forbes Advisor Rates Health Insurance Companies
Find The Best Health Insurance In Illinois
On Healthcare.com’s Website
