Paul Sanchez
The cost of medical insurance in Mississippi varies depending on the type of plan and the insurer. The cheapest health insurance in Mississippi is offered by Molina, with plans starting at $473 per month. Silver plans are the most popular, with the most affordable Silver plan being Cigna's Connect Silver CMS Standard, costing $491 per month. Mississippi residents can also qualify for premium subsidies, which can reduce the average monthly cost to as little as $25.
| Characteristics | Values |
|---|---|
| Average cost of medical insurance in Mississippi | $25 per month if eligible for discounts based on income |
| Cheapest health insurance provider in Mississippi | Molina |
| Cheapest Molina plan | $473 per month |
| Cheapest Cigna plan | Connect Silver CMS Standard, $491 per month |
| Cheapest Bronze plan | Connect Bronze 9450, $443 per month |
| Cheapest Gold plan | Gold 1, $581 per month |
| Average deductible in Mississippi | $4,600 |
| Average deductible for UnitedHealthcare Silver plan | $2,000 |
| Number of people enrolled in private plans in Mississippi for 2024 | 286,410 |
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What You'll Learn
Cheapest health insurance in MS
Health insurance premiums in Mississippi vary depending on the metal tier of the plan. Bronze and Expanded Bronze plans typically have lower monthly premiums, such as $443 for the Connect Bronze 9450 plan and $437 for the Savings Bronze 7400 plan. Silver plans, such as the Connect Silver CMS Standard, offered by Cigna, cost $491 per month. This is the most affordable Silver plan in Mississippi. Silver plans are the most popular choice as they balance monthly premiums with out-of-pocket costs. Gold plans, such as the Gold 1 plan from Molina, cost $581 per month and have higher premiums but lower out-of-pocket expenses.
UnitedHealthcare offers low-cost or no-cost health insurance plans for individuals with limited incomes in Mississippi. They also offer Dental insurance plans, Accident insurance, Critical illness insurance, Vision insurance, and Hospital insurance. Ambetter from Magnolia Health also offers affordable health insurance plans in Mississippi, which can be managed through their mobile app.
Cigna Healthcare offers health insurance plans in Mississippi with access to virtual care, in-network providers, digital tools, and personalized health care support. Open Enrollment for 2025 has ended, but you may qualify for a Special Enrollment Period.
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Cost-sharing reductions
In Mississippi, the average cost of health insurance plans varies depending on the type of plan and the insurer's preferences. The state offers a range of plans, including Bronze, Expanded Bronze, Silver, and Gold. These plans differ in terms of monthly premiums and out-of-pocket expenses.
For individuals with lower incomes, cost-sharing reductions can be a valuable way to make healthcare more affordable. Cost-sharing reductions are available for those who fall below a certain income threshold, typically those earning below 250% of the Federal Poverty Line. These reductions are applied to Silver plans, which are known for striking a balance between monthly premiums and out-of-pocket costs.
When an individual qualifies for cost-sharing reductions and enrols in a Silver plan, they will benefit from reduced cost-sharing charges. This means they will have lower deductibles, out-of-pocket maximums, and co-payments. The specific amount saved on out-of-pocket costs depends on their income level within the eligible range. For example, a Silver plan with a deductible of $750 without cost-sharing reductions may have a deductible of $300 or $500 with cost-sharing reductions, depending on the enrollee's income.
In Mississippi, the Connect Silver CMS Standard plan offered by Cigna is highlighted as the most affordable Silver plan, with a monthly cost of $491. This plan, along with other Silver plans with cost-sharing reductions, can provide significant financial relief for individuals with limited incomes, making essential healthcare services more accessible and affordable.
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Bronze, Silver, Gold plans
In Mississippi, consumers can select from various metal tiers of health insurance plans: Bronze, Silver, and Gold. These tiers indicate the insurer's share of healthcare costs versus the consumer's share and impact the monthly premiums and out-of-pocket expenses.
Bronze plans
Bronze plans typically have lower monthly premiums, but they come with higher out-of-pocket maximums. These plans have lower monthly costs but could result in higher costs when accessing medical care. A Bronze plan may be a good choice if you are generally healthy and do not anticipate needing costly medical services. Many Bronze plans are considered high-deductible health plans (HDHPs) and may be eligible for a health savings account (HSA) to help with out-of-pocket expenses.
Silver plans
Silver plans offer a balance between monthly premiums and out-of-pocket costs. They are the most commonly selected plans due to this balance. Silver plans have moderate premiums and out-of-pocket costs, usually capped near a certain limit. Cost-sharing reductions are available on Silver plans for individuals earning below 250% of the Federal Poverty Line, making healthcare more affordable for those with lower incomes.
Gold plans
Gold plans have higher premiums but lower out-of-pocket expenses. These plans are ideal for individuals who expect to need frequent medical care as they offer better cost-sharing than Silver or Bronze plans. Gold plans are suitable for customers who want to minimize their expenses when receiving medical treatment and prioritize predictable healthcare costs.
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Average full-price premiums
The average cost of health insurance in Mississippi varies depending on the type of plan, the number of people covered, and other factors such as age, gender, and income.
For individuals earning below 250% of the Federal Poverty Line, cost-sharing reductions are available on Silver plans, making them more affordable. Silver plans are the most popular choice as they balance monthly premiums and out-of-pocket costs. The average monthly cost of a Silver plan in Mississippi is around $473 to $491.
Bronze plans, which typically have lower monthly premiums, are also available in Mississippi. For example, the Connect Bronze 9450 plan costs $443 per month, while the Savings Bronze 7400 plan costs $437 per month. However, these plans come with higher out-of-pocket maximums, which can result in higher overall costs if medical care is frequently required.
Gold plans offer the highest level of coverage in Mississippi, with the highest monthly rates. These plans are ideal for individuals who expect to need frequent medical care as they offer better cost-sharing than Silver or Bronze plans. Gold plans have an average monthly cost of around $581 to $647 in Mississippi.
Additionally, Mississippi residents have the option of purchasing individual health insurance plans, which are designed for those who do not qualify for other types of insurance. The average monthly premium for an individual plan in Mississippi is $399.81, but the actual price can vary depending on factors such as zip code, age, and gender.
It's important to note that health insurance premiums can be influenced by various factors, including the number of family members on the plan, the chosen metal tier, and the availability of premium tax credits or subsidies. Mississippi residents can research and compare different plans to find the most suitable and affordable option for their needs.
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Premium subsidies
The cost of health insurance in Mississippi varies depending on the type of plan chosen and the individual's income and circumstances. Mississippi offers various metal tiers of health insurance plans, including Bronze, Expanded Bronze, Silver, and Gold. These tiers indicate the balance between the insurer's share of healthcare costs and the consumer's share, influencing monthly premiums and out-of-pocket expenses.
Bronze and Expanded Bronze plans typically feature lower monthly premiums but higher out-of-pocket maximums. Silver plans, such as the Connect Silver CMS Standard offered by Cigna, are the most popular choice, balancing monthly premiums and out-of-pocket costs. Gold plans have higher premiums but lower out-of-pocket expenses, making them ideal for individuals who anticipate frequent medical care.
To make health insurance more accessible, Mississippi offers premium subsidies and cost-sharing reductions. Premium subsidies lower the monthly insurance premium, while cost-sharing reductions decrease out-of-pocket expenses like deductibles, copayments, and coinsurance. As of early 2024, 99% of Mississippi Marketplace enrollees received premium subsidies, and 71% benefited from cost-sharing reductions. Eligibility for these financial assistance programs is income-dependent, and applicants must meet specific criteria, such as not having access to affordable employer-provided health coverage or being ineligible for Medicaid or CHIP.
The American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022 have expanded access to premium subsidies in Mississippi. These legislative changes have resulted in more individuals and families becoming eligible for reduced or $0 monthly premiums for ACA Marketplace health coverage. The ARP's enhanced subsidies have been extended through 2025, ensuring continued support for those seeking affordable health insurance in the state.
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Frequently asked questions
The average cost of medical insurance in Mississippi is $25 per month if you qualify for discounts based on your income.
There are several metal tiers of health insurance plans available in Mississippi, including Bronze, Expanded Bronze, Silver, and Gold. These plans vary in their monthly premiums and out-of-pocket expenses.
Molina offers the cheapest Silver plan in Mississippi, with premiums as low as $473 per month.
The average deductible for health insurance in Mississippi is $4,600. However, UnitedHealthcare Silver plans have a lower average deductible of $2,000.
Premium subsidies are available to those who earn between $15,060 and $60,240 per year as a single person. These subsidies can significantly reduce the cost of health insurance.
