Cheap Health Insurance in Delaware: A Complete Guide 2021

Last modified: March 14, 2021

Looking for cheap health insurance in Delaware or more complex coverage options for special needs? Let us help you find the right coverage!

Regardless of which US state you live in, getting health insurance is always a smart decision. In fact, those without health insurance may be gambling away their health and their life’s savings. Health insurance pays a percentage of the insured person’s medical expenses when they get sick, injured, or need to be hospitalized. Health insurance protects you from the rising costs of healthcare and medication, and can even help people avoid bankruptcy.

Like many other US states, you can have various health insurance coverage options in Delaware. Whether you are looking for basic, cheap health insurance in Delaware or more complex coverage options for special needs, you can easily find the right coverage on the Delaware health insurance marketplace.

Some of the well-known options for healthcare coverage in Delaware are HS Highmark BCBSD Inc., and Highmark Blue Cross Blue Shield.

This article tells you all there is to know about getting health insurance in the Diamond State, the second smallest state in the United States.

List of Providers and Comparison Table

When it comes to health insurance companies in Delaware, residents have only one option for marketplace health care providers, and that is Highmark BlueCross BlueShield Delaware. Delaware health insurance plans come in various types.

The monthly premiums for each plan vary depending on the person’s age, underlying condition, and other factors. The Gold Plan costs around 43% more as compared to the bronze plans. It is important to note that the Gold Plan will cover 80% of medical expenses as compared to the Bronze Plan that only covers 60% of medical costs.

Catastrophic Plans offer the lowest coverage and come with low monthly premiums and high annual deductibles. This coverage option has been specifically designed for the prevention of medical bankruptcy.

Cheapest Health Insurance Plan by Cities in Delaware

City Rates
Wilmington $224
Dover $224
Newark $219

 

Thanks to these options, it is easy to find affordable health insurance in Delaware that meets your specific needs and fits your budget. If you are looking for cheap health insurance in Delaware, then you’re in luck, regardless of which city you live in.

Average Cost of Health Insurance by Family Size in Delaware

So, what is the average cost of health insurance in Delaware? You can choose from many options when looking for Delaware health insurance for low income. The average cost of health insurance in Delaware is around $224 for individuals. This is the average rate Delaware residents can expect to pay for a medical individual health insurance plan. Remember, the price and premiums of your coverage will vary depending on your overall health.

On the other hand, the average cost of health insurance by family varies depending on the number of members of the family. The average cost you can expect to pay, depending on the family size are as follows;

  •         Individual + child: $850
  •         Couple (40 years of age): $1,070
  •         Family (three kids): $1,390
  •         Family (four kids): $1,700

Health Insurance Guide and Resources

When choosing individual health insurance in Delaware, it is important to educate yourself on the various health insurance plans in Delaware available. There are different ways in which an individual can get health insurance in DE.

Employer-Sponsored Group Plan – Many residents in the US get health insurance through their employers. The benefit is that employers get group discounts, which lowers the cost of monthly premiums employees have to pay, so it’s a win-win situation for both parties.

Medicare – This government-sponsored program offers low-cost health coverage for those with disabilities or those individuals who are over 65 years. As of July 2020, around 213,670 individuals are enrolled in Medicare in the state of Delaware. This is 22% of the total population of the state.

Medicaid – This is another option sponsored by the government and is aimed at low-income families. Medicaid and the Children’s Health Insurance Program, commonly known as CHIP, offers either low or no-cost health coverage for children who are residents of Delaware. These programs are only available for those children who meet the eligibility requirements. The CHIP coverage program covers dental care, immunizations, and routine check-ups.

Private Insurance Coverage – Residents of Delaware also have the choice to invest in either family or individual coverage options via the Affordable Care Act Marketplace.

Tips to Save on Health Insurance in Delaware

The following are some of the factors that contribute to the amount that you have to pay for health insurance in Delaware.

Body mass index

Because of the serious health concerns linked to low or high BMI, insurance providers analyze the person’s BMI when determining whether the person is a low or high risk. It should be noted that a high BMI results in a high premium.

Tobacco use

Smokers are at a higher risk of health issues, which is why they are required to pay more premiums.

Age

Age is another deciding factor when it comes to getting qualified for cheap health insurance in Delaware. Coverage can cost up to three times higher for older individuals as compared to younger applicants.

Location

Your location also plays an important role in the amount the individual has to pay. This is mainly because each US state has its own rules and regulations that need to be followed. Since health insurance rates are community rated, an individual can expect to pay a price that is based on the combined claims of others in the community. This could bump up your rates if others living in your neighborhood file a high amount of claims.

Cost-sharing reductions

Cost-sharing reductions such as employer-based insurance coverage plans are a great source of savings for individuals looking to save money while getting the best health insurance in Delaware.

Should you apply as a family or as individuals?

It depends on the individual and family needs. Since every person has their own requirements when it comes to health insurance, it’s best to consider all the factors before making the choice of going for a family or individual health insurance in Delaware.

Pre-existing conditions

Having a pre-existing condition can bump up the cost of your health insurance coverage. The exact amount is going to vary depending on the type of pre-existing condition and for how long you have had it.

Gender

Under the Affordable Care Act (ACA), it is not allowed to charge different rates for men and women for the same coverage option. This is great news for women in Delaware since they traditionally end up having to pay more for health insurance as compared to men.

Insurance and medical history:

Another major factor that is closely analyzed by the insurer when deciding on the price an individual has to pay for cheap health insurance in Delaware is their medical history. Individuals with previous medical conditions have to pay more for health insurance coverage in Delaware.

Pros & Cons

The Pros

The Cons

Final Verdict

FAQs

When is Delaware’s open enrollment for 2021 health insurance coverage?

Delaware residents looking to enroll for health insurance coverage in the coming year can visit HealthCare.gov or CuidadodeSalud.gov to explore various health insurance plans that will be available in 2021. The enrollment process will be open between Nov 1 to Dec 15.

Did Delaware expand Medicaid?

Thanks to the Affordable Care Act, Delaware has opted to expand the eligibility for Medicaid for adults who do not have dependents and earn incomes that are up to 138% of FPL.

Is Health Insurance Mandatory in Delaware?

There is no state law that mandates individuals to get health insurance in Delaware, neither is there any state law that requires employers when it comes to offering group healthcare insurance for their employees. That said, many employers in Delaware offer this benefit to their employees.

What is the income limit for Medicaid in Delaware?

The average income limit to get Medicaid in Delaware is $16,971 per individual. These rates vary depending on the household size.

Why is healthcare so expensive in Delaware?

The average cost of health insurance in Delaware is higher as compared to the national average because the population is older or aging faster, which  bumps up the price of coverage.

What are short term health insurance conditions?

The short-term health insurance includes preventive and urgent care, doctor visits, and emergency care.

What is the uninsured population rate in Delaware?

According to research, around 13% of adults aged between 18 and 64 in Delaware reported not having any health coverage.