What’s the best health insurance plan for the lowest price if you live in California?

January 20, 2023

No single insurance company tends to have a “better” plan than another company. All health insurance companies that service California will offer the same four-tier plans (which we discuss below).

Now, health insurance companies will price these plans differently. Additionally, these plans will change in price from year to year. Purcha Insurance will find out which plan best fits your needs.

Important Note: We do not have relationships with any health insurance company as a health insurance broker. All we do is help our customers determine the best plan for the best price based on their individual and family requirements. In the end, you pick the health insurance plan and company that works best for your situation. There is no fee to you for our service.

What Determines Your Health Insurance Costs?

Health insurance costs depend on four main factors:

  1. Income
  2. Family Size
  3. Zip Code
  4. Age

Does The State of One’s Health Determine Health Insurance Cost?

That’s no longer a factor when health insurance is priced. Health insurance companies can’t use your pre-existing conditions as a factor in your health insurance cost.

What are Some of the Best Options for People Who Are Looking for the Lowest-Priced Health Insurance in California?

There are four different categories (they’re called “metaled tiers”):

  • Bronze (60/40) - Insurance pays 60% and the insured pays 40% of costs after the deductible is paid. You have to meet a deductible first before you get to the co-insurance portion.
  • Silver (70/30) - Similar to Bronze. Insurance pays 70% and the insured pays 30%.
  • Gold (80/20) -  Insurance pays 80% and the insured pays 20%. This tier has no deductible.
  • Platinum (90/10) - Insurance pays 90% and the insured pays 10%. This tier also has no deductible.

Can Covered California Help Lower My Health Insurance Costs?

It can. If you’re looking at getting a health insurance plan while residing in California, it’s a good idea to look into Premium Assistance to see if you qualify for financial assistance toward your health insurance payments.

What Happens if I Move To Another State After I Get Health Insurance In California?

If you move to another state, then you will have to find a health plan in the state you move to. Your insurance doesn’t go with you state to state if you move. You are covered if you travel - you will have some out of network benefits for emergencies and things of that nature. But if you do in fact move, you have to sign up for a health plan in the state that you reside in.

Which Health Insurance Companies Have The Lowest Priced Plans?

All health insurance companies offer bronze plans. For instance, one of the plans is a Bronze 60. The benefits of a Bronze 60 is going to be exactly the same from carrier to carrier. Anthem Blue Cross’s Bronze 60 is exactly the same as Blue Shield of California’s Bronze 60 (as well as Kaiser Permanente and Health Net). The benefits are designed exactly the same, the only difference is the price. The Bronze plan will be the least expensive.

Did you know?

There’s also a Catastrophic Plan. Up until age 30, one can get a Catastrophic Plan which has a higher out-of-pocket than the Bronze 60. This plan is designed for young people that may not need to use their health insurance often. One benefit is that the first three physician visits are free.

Do Health Plan Prices Change Throughout The Year?

Health insurance plans adjust in price once a year.

Does it Matter What Time of Year You Apply for Health Insurance?

No, it does not. There used to be an open enrollment period and a lot of people think this still matters. Because of new laws (Inflation Reduction Act), people are allowed to enroll year-round now.

What if I Want to Use the Same Doctor?

Many people have a physician they prefer to see and want to keep them when they get new health insurance. Not all doctors will accept health insurance from all the insurance carriers out there. If you continue to see your physician and they do not accept your current health insurance provider, you will have to pay full price for all services and visits.

At Purcha Insurance we will check to see what insurance carriers your current doctor accepts for you.

How Does My Home Address Affect My Health Insurance Costs?

Insurance pricing is based on where you reside. For example, if you live in a rural area, your pricing can be lower. People who live in big cities might pay more. Events like the probability of road accidents and other incidents are factored into the price.

At Purcha Insurance, we help people navigate through the Covered California online web application and assist them in finding the right plan for them at the right price.

Questions? Call Purcha Insurance at (714) 991-4855

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