Most Affordable Health Insurance Companies of 2023

If you’re eligible for the advance premium tax credit, how much you pay for health insurance can drop dramatically. If you choose an Aetna plan, it could potentially drop to $0. While all marketplace plans are eligible to be reduced by premium tax credits, some include benefits that aren’t eligible for premium tax credit dollars. Because Aetna plans only include essential health benefits, 100% of the premium can be reduced by the tax credit.

Aetna plans also offer an excellent alternative to urgent care for minor illnesses and injuries via CVS MinuteClinics. Aetna members can walk in or schedule free MinuteClinics appointments, often the same day they need care. Just note that if you have a high-deductible plan, you must meet your deductible before MinuteClinic visits are free.

We generally found Aetna’s premiums to be low, but its deductibles high. That can be fine if you don’t expect to use your plan for more than preventive care or if you have an HSA (health savings account) to cover non-preventive care before your deductible is met. We also found that value can vary significantly between markets. For example, Aetna has the cheapest 2023 bronze plan in El Paso County, Texas, at $286.40 per month ($7,500 deductible) for a 35-year-old nonsmoker. In Miami-Dade County, Florida, the same bronze plan is the seventh least expensive at $366.09 per month. What’s nice about that plan (in either location) is that you can get generic prescription drugs for $25 and see a primary care physician for a $50 copay before the deductible is met. 

Oscar is a startup that uses technology to differentiate it from traditional insurance providers. It also packs a lot of value into its health insurance plans for the price. We found that Oscar’s plans are the best priced, on average, for applicants between age 25 and 60, regardless of metal level. We also found that it offers the lowest-cost bronze and silver plans compared to other top providers. Further, healthcare.gov lists Oscar’s plans as some of the best for low and medium use.

With its highly rated app, you can get $0 virtual urgent care at any time of the day or night and get paid to meet your daily step goals, or check out your plan’s benefits and review your individualized team of healthcare professionals. Plus, the company offers a wide range of health management programs, including ones for diabetes, depression, heart disease, pain management, weight loss, and pregnancy. Pricing will depend on your location, age, and whether you smoke. But we found Oscar’s premiums to run from the low $300s to the low $400s for its bronze plans in Texas and Florida.

Kaiser offers very low premiums for its plans if you are lucky enough to live in a state that it covers. However, Kaiser’s low-premium plans can translate into a higher deductible, relative to the competition. But if you don’t expect to use your plan much, one of Kaiser Permanente’s bronze plans can be an excellent choice.

There are other reasons to go with Kaiser, apart from cost. For starters, Kaiser came in first across five regions in the 2022 J.D. Power U.S. Commercial Health Plan Study. Its plans also earn the highest ratings of all providers we reviewed, 5 stars from healthcare.gov and an average 4.3 stars from the NCQA.

The main drawback is that Kaiser is only available in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and the District of Columbia. And if you prefer a PPO, you’re out of luck with Kaiser.

Molina plans don’t necessarily have the lowest premiums, but they generally have lower deductibles than the competition. We found this to be the case for Molina’s bronze plans. For example, in Miami-Dade County, Florida, Molina offers a bronze plan with a $3,000 deductible, while most competitor plans have deductibles of $7,500 to $9,100. This makes Molina plans an option for those who expect to use their plan for more than preventive care, but still need a relatively low premium.

Unfortunately, Molina doesn’t do as well in other regards. Healthcare.gov gives its plans two stars out of five. And you’re limited to using in-network providers since Molina plans are generally HMOs.