Best Health Insurance for Young Adults in 2023

Oscar is a tech-savvy startup that offers a comprehensive lineup of healthcare plans. Additionally, you’ll find a variety of health management programs, including one for weight loss, which is rare amongst competitors. As for pricing, the carrier offers plans with $0 copays for both gold and silver plans. 

Younger, tech-savvy adults may also appreciate Oscar’s highly-rated app. It syncs with Apple Health or Google Fit and will pay you $1 every day that you hit your step goals, up to $75 per year. You can also use the app to find care near you, message your care team, review your plan, and more. 

That said, Oscar doesn’t offer platinum plans and is only available in 21 states. It’s also worth noting that the company earned a lower average National Committee for Quality Assurance (NCQA) rating than many of its competitors. But overall, Oscar plans can be a great fit for younger adults looking for a good balance of quality coverage and affordability. 

Aetna’s marketplace plans are eligible to be 100% covered by premium tax credits. This isn’t the case with all plans—for example, only 95% of the premium may be covered by tax credits with some plans. Hard to beat free premiums! However, the cost of your insurance and credits will depend on various factors including your location, income, household size, and more. 

For 2023, the company has released bronze plans in several markets that are blowing past the competition. Many bronze plans, for example, require that you pay a $9,100 deductible before you can access low-cost copays on generic drugs, doctors, and specialists. But not Aetna, which offers plans with $25 copays on generics and $50 and $100 copays on PCPs and specialists without requiring the deductible be paid first. 

What’s more, Aetna offers free and low-cost walk-in visits at CVS MinuteClinics where you can get care for minor illnesses and injuries without the hassle and expense of an urgent care or ER visit. Aetna also fares well overall in ratings for customer satisfaction and financial stability.

BCBS made our list thanks to its catastrophic coverage for young adults. Catastrophic coverage is designed primarily for adults 30 and under who don’t qualify for premium tax credits. It includes essential health benefits like preventive care and comes with low monthly premiums. However, it has very high deductibles. The main benefit is basic preventative care along with coverage for worst-case scenarios. 

When you choose BCBS for catastrophic coverage, you get a trusted provider with a far-reaching network. Blue Cross Blue Shield (BCBS) provides one in three Americans with health insurance. It serves all 50 states and the District of Columbia, offers many plan options and types, and earns high ratings from third parties. However, it’s also one of the more expensive carriers—particularly when it comes to its bronze and silver plans.

Molina stands out when it comes to its low-cost bronze plans, especially for young adults who expect to use their plans. We researched deductible and premium costs for 25-year-olds across many carriers and metal levels. Molina’s deductibles were particularly low, considering its affordable premiums. For example, Molina offers bronze plans with $0 health deductibles and a $3,000 drug deductible in Miami-Dade County, Florida. Other bronze plans in the area have a $9,100 deductible, and premiums that are up to $100 less. Lower monthly premiums are great, but they may not make up for a $6,000 higher deductible. 

But on other fronts, Molina isn’t a top performer. It generally offers HMO plans, which means you’re strictly limited to in-network providers, and dental coverage is unavailable on the plans we reviewed. Plus, Healthcare.gov and the NCQA give the company's plans a 2-star rating. That said, if you’re a young adult looking for healthcare on a tight budget, Molina is worth looking into.