The Best & Affordable Health Insurance in California in 2024

Cheapest Health Insurance In California

The cheapest health insurance in California is Silver 70 HMO from LA Care, with a monthly cost of $346, and it’s a popular choice for individuals around the age of 40.

Premiums and out-of-pocket costs fluctuate across metal tiers; in California, Valley Health offers the most affordable Bronze, LA Care provides the least expensive Silver, Gold and Platinum plans.

If you are looking to balance monthly premiums with quality claims and coverage, Money Geek analyzed the best health insurance in California.

Get To Know

What is Health Insurance and its benefits and its market capital?

Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. however it reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly. And its benefits, it covers all kinds of medical expenses, including hospitalization, medical tests, surgeries, and doctor visits.

The U.S. individual health insurance market size was estimated at USD 1.60 trillion in 2022 and is expected to reach USD billion 1,684.8 Trillion in 2023.

In a simple way, a health insurance policy is a contract between the insurance company and an individual. The individual pays a premium to the insurer and the insurer offers financial protection against healthcare expenses to the individual in return.

Cheapest Health Insurance in California by Metal Tier

Silver plans are the most affordable health plan options. The cheapest plan in California is the Silver 70 HMO provided by LA Care, which stands out for its monthly rate of $386. Those looking to minimize their monthly expenses can consider Bronze plans, which offer lower premiums at the expense of higher out-of-pocket costs.

Health insurance premiums vary depending on the metal tier selected. Higher tiers like Gold and Platinum typically come with higher monthly costs but offer substantial reductions in out-of-pocket expenses such as deductibles and co-pays.

Here are the most affordable health insurance plans from each metal tier :

• Catastrophic: Minimum Coverage Ambetter HMO from Health Net ($203)
• Bronze: Valley Health Bronze 60 HMO ($342)
• Silver: Silver 70 HMO by LA Care ($386)
• Gold: Gold 80 HMO by LA Care ($402)
• Platinum: Platinum 90 HMO by LA Care ($450)

For those searching for cheap health insurance options or the most cost-effective plans within each tier, these choices provide a starting point. Remember, the most affordable plan may not always be the best fit for your needs, so consider all factors, including coverage, network and out-of-pocket expenses:

At First We Should Know About Metal Tiers

WHAT ARE METAL TIERS?      

In California’s health insurance marketplace, consumers choose from Bronze, Silver, Gold and Platinum tiers, each reflecting coverage levels and cost-sharing. Bronze plans offer low premiums but higher out-of-pocket expenses, suitable for those prioritizing lower monthly costs. Silver plans strike a balance with potential cost-sharing reductions for eligible individuals.

Gold Plan Feature

Gold plans feature higher premiums but lower out-of-pocket costs, which is ideal for frequent health care users. Platinum plans have the highest premiums but the lowest out-of-pocket costs, preferred by those needing extensive medical care. When selecting a tier, it’s crucial to consider the trade-offs between premiums and out-of-pocket expenses.

Cheapest Silver Plans in California

The most affordable Silver tier health plan in California is the Silver 70 HMO offered by LA Care, with a monthly cost of only $386. Affordable health care is within reach for Californians, and to highlight that, here are the three cheapest Silver plans:

• Silver 70 HMO from LA Care ($386 per month)
• Inland Empire Health Plan Silver 70 HMO from Inland Empire Health Plan ($415 per month)
• Silver 70 HMO from Anthem Blue Cross ($435 – 450 per month)

Suitable for individuals or families looking for a balance between monthly premiums and out-of-pocket costs, Silver plans offer moderate premium rates with reasonable cost sharing. These plans are particularly advantageous for households with modest incomes since they may qualify for cost-sharing reductions, which lowers the amount one pays for deductibles, copayments and co-insurance. This ensures better access to health care services without overwhelming financial strain.

Cheapest Gold Plans in California

The most affordable option in the Gold tier in California is the Gold 80 HMO offered by LA Care at a monthly cost of $372. The three most affordable Gold plans in California are:

• Gold 80 HMO plan offers you generous coverage with no annual deductibles. This individual or family health insurance plan is ideal for those who still want to receive generous benefits but don’t mind having slightly higher out-of-pocket expenses.
• Gold 80 HMO from Molina Health Care ($565 – 575 per month for individual)
• Inland Empire Health Plan Gold 80 HMO from Inland Empire Health Plan ($583 per month)

Gold plans are ideal for individuals who expect a high level of medical care throughout the year. These plans typically offer lower out-of-pocket costs when accessing health care services. Customers who choose Gold plans may pay higher monthly premiums, but they benefit from lower prices when they receive medical treatment.

Cheapest Bronze Plans in California

The Valley Health Bronze 60 HMO is the cheapest Bronze tier health plan in California, offered by Valley Health at a monthly cost of $282. The three most affordable Bronze health plans in California are:

• Valley Health Bronze 60 HMO from Valley Health ($310 per month)
• Bronze 60 HMO from LA Care ($320 per month)
• Bronze 60 Ambetter HMO from Health Net ($360 per month)

These plans are designed for customers who prefer lower monthly premiums and don’t expect to need much health care throughout the year. They are suitable for individuals who want basic coverage and protection against high-cost events. Bronze plans often have higher out-of-pocket costs when services used, but they ensure coverage for essential health benefits.

Cheapest Catastrophic Plans of Health Insurance in California

The most affordable Catastrophic health plan in California is Minimum Coverage Ambetter HMO from Health Net, which costs $202 per month. The three most affordable Catastrophic health plans in California are:

• Minimum Coverage Ambetter HMO from Health Net ($240 per month)
• Lower Coverage HMO from Anthem Blue Cross ($240 per month)
• Min Coverage HMO from LA Care ($250 per month)

Expanded Bronze plans designed for individuals who want a balance between monthly premiums and out-of-pocket costs. These plans ideal for those who anticipate needing some health care services but who looking for lower premium costs compared to higher-tier plans. The coverage provides a broad range of essential health benefits with a slightly higher out-of-pocket maximum than Silver plans, catering to those who prefer reduced upfront costs.

Cheapest Health Insurance in California Platinum Plan

Platinum 90 HMO from LA Care is the most affordable Platinum tier plan in California, with monthly cost of $450. The three most competitively priced Platinum health plans in the state are:

• Platinum 90 HMO from LA Care ($450 per month)
• Same 90 HMO from Molina Health Care ($565 – $575 per month)
• Platinum 90 Premier HMO from SHARP Health Plan ($686 per month).

These plans are designed for customers who anticipate needing frequent medical care and willing to pay a higher monthly premium in exchange for lower costs when they receive medical treatment. They have the lowest out-of-pocket expenses compared to other tiers, making them ideal for those who want assurance of more predictable health care spending. These plans are particularly beneficial for individuals with chronic conditions or those who require consistent access to health care services.

Cheapest Health Insurance in California by Plan Type

In California, the Health Maintenance Organization (HMO) is the most popular plan type. Other plan types available include Exclusive Provider Organization (EPO) and Preferred Provider Organization (PPO) plans. The most affordable HMO health plan in California is the Silver 70 HMO from LA Care.

HMO: Silver 70 HMO from LA Care ($386)

EPO: Silver 70 EPO from Anthem Blue Cross ($634)

PPO: Silver 70 Ambetter PPO from Health Net ($560)

EPO plans limit patients to a specific network of health care providers, offering cost savings compared to PPO plans. While PPO plans offer more flexibility as patients can see providers outside the network without needing a referral. HMO plans usually require members to select primary care physician & obtain referrals for specialist visits, making them cost-effective choices for individuals prioritizing coordinated care within a specific network.