Best Cheap Health Insurance in Montana (2023)

The cheapest Silver health insurance plan in Montana for most people is the Plus Ind Silver MT plan. This is the most affordable Silver plan for 84% of the state's counties. People may also find cheap health insurance with the Blue Focus Silver POS 206.

Affordable health coverage is available to Montana residents through the state health insurance marketplace, which offers health plans from three insurance companies.

Cheapest health insurance by plan tier

The state exchange offers four different tiers of health insurance coverage to choose from: Catastrophic, Bronze, Silver and Gold. We compared policies in Montana by tier to find a cheap health insurance policy at each level of coverage on the state exchange.

The plans above may not be available in your county, but they're a good starting point to compare the costs and benefits in a given tier. The Blue Focus Silver POS 206 Silver plan, for instance, has a monthly premium that starts at $402 but a deductible of $3,400. The cheapest Bronze plan, the Blue Focus Bronze POS 205, has a higher deductible of $4,900 but comes with a cheaper monthly premium of $292.

The cost of health insurance is largely driven by metal tier and the ages of the insured. A higher-tier policy would have higher monthly premiums but would also come with lower out-of-pocket costs when you use the insurance.

As you get older, the monthly cost of coverage will increase across all metal tiers. For example, on average, a 40-year-old pays $113 more per month than a 21-year-old for the same Silver plan in Montana. However, the same 40-year-old pays $584 less per month than a 60-year-old for the same coverage.

Finding the best health insurance coverage in Montana

Typically, higher metal tier policies have costlier monthly premiums, but they also provide lower out-of-pocket expenses, such as deductibles, copays and coinsurance. These higher metal tier plans are best if you think you may become sick or already have high recurring medical costs, such as prescriptions. On the other hand, policyholders who are young and healthy, or who don't expect to have high medical costs, may wish to choose a lower metal tier plan to save money.

Gold plans: Best for high expected medical costs

The cheapest Gold plan in Montana is the Blue Focus Gold POS 207. Compare all tiers in Montana above.

Gold is the highest metal tier available in Montana, and you can expect Gold policies to cover roughly 80% of your health care expenses, while you pay the other 20%.

Gold health plans typically cover the greatest share of health care costs, as the deductibles, copays and coinsurance are lower. These benefits come at the expense of a higher monthly premium. The average cost of a Gold plan in Montana is 8% greater than the average cost of a Silver health plan for a 40-year-old.

Generally, Gold health insurance policies are the most cost-effective if you have ongoing medical costs. For example, if you have a chronic condition or costly prescriptions, a Gold plan might be your best choice.

Silver plans: Best for those with low incomes or average medical costs

The cheapest Silver plan in Montana is the Blue Focus Silver POS 206. Compare all tiers in Montana above.

For many households, in terms of monthly premiums and out-of-pocket costs, Silver plans fall between Gold and Bronze metal tier plans, serving as a good middle ground. However, Silver plans are also eligible for cost-sharing reduction (CSR) subsidies that can further lower your out-of-pocket expenses.

Typical Silver plans cover about 70% of your health care costs, while you pay 30%. But under CSR subsidies, you could qualify for a Silver plan that covers up to 94% of your health care costs.

Bronze and Catastrophic plans: Best for young, healthy people

The cheapest Bronze plan in Montana is the Blue Focus Bronze POS 205. The cheapest Catastrophic plan is the Connect Ind Catastrophic MT. Compare all tiers in Montana above.

Catastrophic and Bronze health insurance plans typically offer the cheapest monthly premiums. However, Catastrophic plans are only available to those under 30 years old or who qualify for an exemption, and they are not eligible for premium tax credits.

Bronze plans are the cheapest option available to everyone, but they come with reduced coverage. Policyholders generally pay higher out-of-pocket costs than they would with higher metal tier plans. So if you need medical care during the year, you have to pay more money out of pocket before coverage kicks in.

On average, you can expect a Bronze plan to cover about 60% of your health care costs, while you pay for the other 40%. Therefore, we only recommend these plans if you have the financial means to cover a large portion of your medical emergencies.

Health insurance rate changes in Montana

In Montana, health insurance premiums, out-of-pocket maximums and deductibles are adjusted annually by insurance companies. Once premiums are set, they are sent for approval to federal exchange regulators.

Overall, the average cost of health insurance for a 40-year-old across all plan tiers in Montana increased by 5% compared to 2022. Price changes varied by plan tier.

The cost of Silver and Gold plans increased the most for 2023.

Health insurance companies in Montana

The three health insurance companies on the Montana state exchange are Blue Cross and Blue Shield of Montana, Montana Health Cooperative and PacificSource Health Plans. All three insurers are available in every county in Montana, but the plans offered and their monthly premiums may differ.

Cheapest health insurance plans by county

The cheapest Silver health insurance policy in 84% of Montana counties is the Plus Ind Silver MT plan. However, the cost of a health insurance policy will differ depending on where you live, your age and the number of people covered.

The best health insurance plan in Montana also depends on your county, as the same policy may have different rates depending on where you live.

For example, the Blue Focus Silver POS 206 plan costs $402 per month for a 40-year-old in Carbon County, but it would cost $443 per month for the same 40-year-old in Missoula County.

Average cost of health insurance by family size in Montana

In addition to your chosen health plan, the number of people covered and their ages will determine the cost of health insurance for your family in Montana. If you add children to your health insurance plan, the cost of coverage for each child is a flat rate until they are 15 years old. Upon reaching the age of 15, the child's monthly rate will increase as they grow older.

For instance, the average health insurance cost for a family of three, assuming two 40-year-old parents and a child on a Silver plan, is $1,349 in Montana. If you were to add another child to the plan, the monthly premium would increase by $311. So for a family of four, the total monthly cost of health coverage would be $1,660.

Methodology

The health insurance rate data in this analysis was sourced from the Centers for Medicare & Medicaid Services (CMS) website. ValuePenguin used the CMS public use files (PUFs) to average stated premiums across a variety of factors such as age, plan tier, county and family size. 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.