Since the average health insurance premium for a 40-year-old man in the Hoosier State is about $462 per month, many residents are left wondering if there is anything as cheap as health insurance in Indiana.
Currently, the most affordable health care you can get is Medicaid, which provides you with very cheap or even free healthcare in Indiana. However, if you do not qualify for the program, there are plenty of other private health insurance companies that offer quality health insurance that you can afford.
In this Indiana Health Insurance guide, we compare health insurance plans in the state based on the most popular insurance companies, the cost of these plans, and the different healthcare plans they offer in the Indiana health insurance marketplace. If you are looking for health insurance with coverage in all states, make sure to take a look at our list of the best health insurance companies.
Let’s read on for more details…
We have compared three of the most affordable health insurance companies in Indiana. Below, you can find out what kind of health coverage these insurance companies provide and select the one most suited to your needs.
CareSource Just4Me offers health insurance in all 92 counties of Indiana. They offer 3 Bronze, 6 Silver, and 2 Gold plans.
CareSource Just4Me is one of the very few insurance companies that offer good Indiana health insurance for low income and underserved communities. It provides affordable plans with different levels of coverage, including primary care and specialty physicians services, outpatient services, prescription medication coverage, preventive and wellness services, chronic disease management, hospitalizations, emergency services, mental health, and substance abuse treatment, lab services, rehabilitative services, diagnostic imaging, pediatric health, and vision services and podiatry care.
However, its plans do not cover nutrition or dietary supplements, assisted reproductive therapy, hearing aids, alternative or complementary medicine, or cosmetic procedures.
Celtic Insurance Company offers coverage in all 92 Indiana counties. They offer 4 Bronze, 16 Silver, and 4 Gold coverage levels. Their five types of individual health insurance plans include the basic economical health plan, comprehensive health plan, health savings account qualified health plan, short-term health insurance plan, and student health plan.
The most affordable health insurance in Indiana offered by Celtic Insurance Company is the Celtic Basic health insurance, which has low premiums and options for a higher deductible. This is a good plan for self-employed people as it offers preventive care, prescription drug coverage, and a healthy lifestyle benefit program.
With the Celtic Care Preferred Plan, you can choose from multiple different policy options, including many health incentives, prescription coverage, and deductibles.
Also, it offers the Celtic Saver HAS plan, which combines the health savings account with the insurance plans and offers options between a PPO or a managed indemnity plan.
Anthem is one of the largest healthcare insurance companies in the United States and serves over 42 million people within the country. However, they offer coverage only in eight counties through the Indiana health insurance exchange. Off-exchange, Anthem also offers one catastrophic plan in Newton, Warren, Benton, Jasper, and White Counties. On-exchange, Anthem offers 2 Bronze, 1 Silver, and 1 Gold plan in Porter, LaPorte, and Lake.
Anthem provides integrated health insurance plans and disability and life insurance benefits as well. They also offer behavioral health, vision, and dental benefits services through their affiliates. Anthem also offers preventive care, which can be as low as $0 with no copay and no deductibles if you get it from a network provider.
Anthem also has a catastrophic coverage plan with a low monthly premium and high deductibles to cover you during a serious health crisis. This policy is the most cost-competitive option for unemployed individuals who cannot afford regular health insurance.
The average cost of the most affordable health insurance in Indiana is about:
If we choose plans by cities, CareSource plans seem to be more affordable. According to research, CareSource has the lowest health insurance quotes in Indiana, particularly in five of the major cities of Indianapolis:
|City||Cheapest Plan||The premium for 40-Year Individual|
|Indianapolis||CareSource Marketplace Low Premium Silver||$433|
|Fort Wayne||CareSource Marketplace Low Premium Silver||$401|
|Evansville||CareSource Marketplace Low Premium Silver||$390|
|South Bend||CareSource Marketplace Low Premium Silver||$393|
|Fishers||CareSource Marketplace Low Premium Silver||$433|
The average health insurance cost in Indiana is affected by various factors like the health care plan tier, the amount of coverage, the number of people in a plan, their age, medical conditions, and more. If you add your children to your health insurance plan, you will have to pay an additional flat rate until they turn 15. After that, their monthly rate will rise steadily.
|Size of Family||Average Monthly Premium|
|Individual with one child||$719|
|40-year old couple||$900|
|Family of three||$1,169|
|Family of four||$1,438|
|Family of five||$1,708|
About 2.5 million residents of Indiana have government-funded health insurance plans, including Medicare and Medicaid. A small percentage of people are also enrolled in Indiana health insurance marketplace plans.
Both CareSource and Celtic Insurance Company offer Marketplace plans in 2021. They are available in all 92 cities and offer Bronze, Silver, and Gold plans. Anthem also offers health insurance plans in the state by they are off the Marketplace.
The ACA and Obamacare were first instituted in 2013, during which time 900,000 Hoosier residents were uninsured. The number decreased to 54,900 by 2018. The state also expanded Medicaid to childless adults under the age of 65, which led more people to get health insurance in Indiana.
If your employer has not provided you with medical insurance, you can get coverage through the ACA for both individuals and families. Obamacare plans cover pre-existing conditions and you cannot be denied policies because of your health.
All these plans include basic health benefits, including hospitalization, prescription medication coverage, and free preventive care. Plans that cover children also contain vision and dental coverage.
ACA comes in Bronze, Silver, Gold, and Platinum metal levels and each of these tiers covers a specified percentage of your health care costs, with Bronze covering the least.
Anthem offers this plan for 2021. The catastrophic health insurance plan in Indiana is regulated under Obamacare and includes essential health benefits in case of major medical events. However, it is not as comprehensive as regular ACA plans; hence, the premiums are also lower. People under 30 are eligible for this plan but those above this age can also apply for it with a hardship exemption.
Indiana uses the healthcare.gov federal Marketplace for ACA enrollments. The 2021 enrollment period started on Nov 1 and ended on Dec 15, 2020. Hoosiers who missed the enrollment deadline can sign up for a health plan if they had qualifying life events like relocation or marriage. In addition, the government also reopened the enrollment in light of the pandemic from Feb 15 to May 15.
An estimated 1.2 million Indiana residents are enrolled with Medicaid, including 1 in 8 adults and about 30% of children. Medicaid health insurance in Indiana is offered to children under age 18, parents or guardians of minor children, people with disabilities, senior citizens, and pregnant women.
Each group has its own income and coverage limits.
Medicare enrolls about 1.3 million Hoosiers. People who turn 65 can qualify for the program as well as people under 65 years with disabilities.
About three out of 10 people are enrolled with Medicare Advantage, which comes with drug coverage. This is offered by companies that sell private health insurance in Indiana. Currently, Anthem offers this plan.
Indiana also allows short-term coverage for up to 12 months. These plans can be renewed for up to three years. However, these are only designed to provide coverage during gaps like waiting for insurance benefits to start. They do not offer you the same major medical coverage under the ACA and they do not cover pre-existing conditions. They are the cheapest health insurance plans in Indiana.
Under health care law, insurance companies can consider certain factors when setting premiums for their plans:
Age: Premiums may be three times more for older people as compared to younger ones
Tobacco Use: Smoking can lead to more increased health risks so health insurance companies can charge you 50% more
Plan Category: Plan categories include Bronze, Silver, Gold, Platinum, and Catastrophic, with the Bronze plan having the lowest premium and Platinum having the highest.
Location: Location can also affect premium rates.
Type of Plans: Insurers can charge more for plans that cover spouses and/or children as compared to individual plans.
Premiums for health insurance in Indiana cannot be set based on gender or pre-existing conditions.
Indiana uses the healthcare.gov federal Marketplace for ACA enrollments. The 2021 enrollment period started on Nov 1 and ended Dec 15, 2020. Hoosiers who missed the enrollment deadline can sign up for a health plan if they have qualifying life events like relocation or marriage. In addition, the government also reopened the enrollment in light of the pandemic from Feb 15 to May 15.
Indiana expanded the eligibility for Medicaid through Obamacare after receiving approval for HIP 2.0. About 559,000 residents of Indiana were eligible for coverage; however, not all of them would apply for the program.
The ACA requires every person in Indiana to have a health insurance policy under "the individual mandate" or they would be subjected to a tax penalty.
Healthy adults are served through Indiana Healthy Plan. To be eligible for individual health insurance in Indiana, you need to have an income limit of $1,485 per month. If there are two people under the policy, the income limit should be $2,006. For a three-person policy, the income limit is 2,528; for a four-person policy, the income limit is 3,049; for a five-person policy, the income limit is 3,571.
There are other limits for pregnant women, aged seniors, blind, and disabled, home and community-based services, and specialized programs, according go to the Indiana government.
Short-term health insurance in Indiana can be renewed for up to three years. Indiana requires these plans to have an annual benefit of at least $2 million for covered conditions, including ambulatory patient services, emergency care, hospitalization, and lab services.
Short-term plans are different from regular health insurance plans and can cover only four out of the 10 essential benefits of health insurance plans. Hence, they may not cover prescription drugs, mental health care, maternity care, or pre-existing conditions. They can also decline coverage based on health or age.
People who can apply for short term health insurance in Indiana include:
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