Best Cheap Health Insurance in Mississippi (2023)

The cheapest Silver health insurance plan in Mississippi is the Cigna Connect 4450. This is the most affordable Silver plan in 31 of the state's 82 counties. If you choose to enroll in a Gold plan, which could have a lower deductible and out-of-pocket maximum, the most affordable plan in Mississippi is the Confident Care Gold 1.

You can buy cheap health insurance in Mississippi through the state health insurance exchange, though some people will qualify for Medicaid coverage. There are currently four health insurance companies that offer marketplace plans in Mississippi: Ambetter of Magnolia, Cigna Healthcare, Molina Healthcare and Vantage Health Plan of Mississippi.

Cheapest health insurance coverage by metal tier

To help you find the most affordable rates, we compared policies in different metal tiers in the state of Mississippi to find the most affordable health insurance plan in each category. The insurance policies available to you will depend primarily on the county in which you live.

As you can see in the table above, policies in the higher metal tiers tend to have higher monthly premiums with lower deductibles. The largest difference can be seen in the jump between Silver and Gold.

The Gold health plan's deductible is $2,550 less than the deductible of the Silver plan. But the premium for this Gold plan is more expensive by $119 per month. Silver plans are generally in the middle of the pack: They have modest premiums and reasonable deductibles. But the cost of your own health insurance may also depend on the county in which you live and your age.

As you can see in the graph below, a 40-year-old will pay $108 more on average per month in premiums for a Silver health plan when compared to a 21-year-old with the same coverage. Age begins to affect premiums even more as you get older. For example, a 60-year-old will pay $560 more on average than a 40-year-old for the same policy.

Finding your best health insurance coverage in Mississippi

Mississippi has not expanded its Medicaid program, but if your family meets certain criteria, you may be eligible for Medicaid coverage. If not, then determining the most affordable Mississippi health insurance will largely depend on your income, expected expenses and the county in which you live.

Within a given county, the health insurance marketplace will offer plans in the Bronze, Silver or Gold metal tiers. The best health insurance for you will depend on your personal needs.

Gold plans: Best if you expect high medical costs

The cheapest Gold plan in Mississippi is the Confident Care Gold 1. Compare all tiers in Mississippi above.

Gold plans cost the most but are typically the best if you expect to have a lot of medical expenses. They have high monthly premiums but low deductibles, which reduce your out-of-pocket costs in the event that you need treatment.

This can be helpful if you rely on prescription drugs, which tend to be a costly expense throughout the year. Gold health plans are also great for people who prefer to pay more up front and less later when medical services are needed.

Silver plans: Best for modest premiums and average coverage

The cheapest Silver plan in Mississippi is the Cigna Connect 4450, which costs $461 per month for a 40-year-old. Compare all tiers in Mississippi above.

Silver plans are good middle-of-the-pack policies when compared to the Gold and Bronze tiers. The plans have average premiums and health coverage.

While Bronze, Silver and Gold plans all have the ability to get premium tax credits, Silver plans are eligible for extra cost-sharing reductions for low-income people. If your income is equal to or below 250% of the federal poverty level, then you may be eligible for these discounts, which can be put toward reducing deductibles, copayments and coinsurance.

Bronze plans: Best for young, healthy people

The cheapest Bronze plan in Mississippi is the Savings Bronze 5500. Compare all tiers in Mississippi above.

Bronze plans tend to have the most affordable premiums and the highest out-of-pocket costs. These plans are usually best for younger people who are in great health. In particular, Bronze plans can be a good choice if you expect to use few medical services and still want protection from high medical costs in the case of a medical emergency. Although a Bronze health plan can have cheap rates, the deductible level could mean paying a lot out of pocket.

Health insurance rate changes in Mississippi

In Mississippi, health insurance premiums, deductibles and out-of-pocket maximums are updated annually by insurance providers and then approved by federal regulators.

From 2022 to 2023, average rates across all metal tiers decreased, with the average cost of health insurance decreasing by 3%.

Short-term health insurance in Mississippi

You can buy short-term health insurance through the private marketplace at any time during the year. You may want to consider looking at one of these plans if you missed open enrollment or lost coverage through an employer-sponsored health plan. However, you should note that these plans do not cover all the same benefits as a qualified Affordable Care Act plan.

In Mississippi, short-term plans follow the federal guidelines for health insurance. Short-term policies can provide coverage for up to one year and can be renewable for up to 36 months.

Health insurance companies in Mississippi

Ambetter of Magnolia, Cigna Healthcare, Molina Healthcare and Vantage Health Plan of Mississippi are the health insurance companies available on the Mississippi exchange. Vantage Health Plan of Mississippi offers the cheapest rates around for Bronze plans, while Cigna Healthcare offers the cheapest rates for Silver plans, and Molina Healthcare has the best rates for Gold health insurance policies in the state.

Cheapest health insurance plan by county

Silver health plans offer average premiums — and cost-sharing reductions if you are eligible — but policy premiums can vary depending on the county in which you live. In Mississippi, the cheapest Silver health plan in 62% of counties is the Ambetter Virtual Access Silver. The cheapest Silver health plan in the remaining 38% of counties is the Cigna Connect 4450.

For your convenience, we have listed rates by county, with sample prices depending on your family size.

Average cost of health insurance by family size in Mississippi

Health insurance costs vary depending on the size of your family, along with your age and the policy you choose. For example, the average monthly health insurance cost for a 40-year-old couple with a Silver health plan is $997 in Mississippi.

If you were to add one child to the policy, the cost would be $248 more expensive for the same plan. In the table below, we break down the average cost of a health insurance plan in Mississippi depending on the size of your family.

Methodology

Health insurance rates, deductibles and out-of-pocket maximums in this report were compiled from the Centers for Medicare & Medicaid Services (CMS) government website. Using the public use files (PUFs), ValuePenguin found average values by age, metal tier, county and family size to better understand the health insurance marketplace in Mississippi. Plans and providers for which county-level data was included in the CMS Crosswalk file were used in our analysis; those excluded from this data set may not appear.