Best Affordable Health Insurance Companies

Affordable health insurance once seemed like a pipe dream, yet the passage of the Affordable Care Act changed that for many Americans. Thanks to the sweeping healthcare reform, signed into law by Barack Obama in 2010, households with incomes between 100% and 400% of the federal poverty level (FPL) became eligible for subsidies to bring health insurance premiums within reach. Further, the Medicaid program for low-income individuals was expanded upward to include all adults with an income below 138% of the federal poverty level

Still, there are challenges for some Americans when it comes to finding affordable health insurance premiums—especially for those at the higher end of the subsidy range and beyond. Because of the way the ACA was imagined, health insurance premiums can vary widely based on where you live, how much money you earn, and the size of your family.

Regardless of where you fall within those metrics, the best way to find affordable health insurance is to shop around among several different providers and compare plans based on what they offer, your monthly premiums, your annual out-of-pocket costs, and other details. Investopedia compared some of the top providers in this space to find the best affordable health insurance companies out there today. The Best Affordable Health Insurance Companies for 2022 Best for Remote Workers: Blue Cross Blue Shield Best for Short-Term Coverage: UnitedHealthcare Best for Health Savings Plan (HSA) Option: Kaiser Permanente Best Employee Coverage: Cigna Best for Convenience: Oscar Best for Medicare Advantage and MediGap Plans: Humana UnitedHealthcare United Healthcare Services Inc.GET A QUOTE We Chose UnitedHealthcare for our ranking because they offer short-term health insurance coverage when you need it. This type of plan can work well if you're in between employer-based plans or you need temporary coverage for any reason.

Pros Long company history Short-term health insurance available Offers ACA-compliant plans Cons Below average ratings in almost all regions in J.D. Power's 2021 U.S. Commercial Health Plan Study Some short-term plans are not available in every state UnitedHealthcare was originally founded in 1977, yet it has grown tremendously and now serves more than 70 million customers. This provider also works directly with more than 1.3 million physicians and healthcare providers, as well as 6,500 hospitals and medical centers around the U.S. We chose UnitedHealthcare for our ranking based on their short-term health insurance options, which help consumers bridge gaps when they're in between plans. Short-term insurance from UnitedHealthcare can be a good choice if you missed open enrollment for the ACA, you're waiting for coverage to start, or you're in between jobs. You can get covered the day after you apply, and you can pick your coverage length as well as your deductible. You also have the option to drop your short-term coverage with no penalty if a long-term insurance option comes along. Note that short-term health insurance plans from UnitedHealthcare are underwritten by Golden Rule Insurance Company, which has an A+ rating from AM Best for financial strength.2