Private Health Insurance Delaware

Affordable Individual Health Insurance Plans Delaware

Individual Private Health Insurance Plans in Delaware

All the uninsured residents of Delaware who are looking for affordable private individual health plans can shop for health plans in the health insurance marketplace. Delaware’s health insurance marketplace called Choose Health Delaware is operated in partnership with the federal government. Residents of Delaware use HealthCare.gov, the federally-run enrollment website to enroll in an individual or a family health insurance plan in Delaware. Though Highmark Blue Cross Blue Shield Delaware is the only insurance provider in the state but the carrier provides a variety of health insurance plans that allow the uninsured to choose a plan that meets their healthcare needs and fits their financial condition. This is the least populated state where half of its population has access to government-funded health coverage through Medicare and Medicaid.

Vital Statistics related To Delaware’s Health Insurance Marketplace

  • Delaware is the least populated state with under 1 million residents.
  • Half of the state’s population have government-funded health coverage through Medicare and Medicaid
  • Around 24,000 Delawareans have private health insurance coverage.
  • 6% of the Delaware residents are uninsured.
  • During the open enrollment period for 2021 coverage, 25,320 individuals enrolled in health insurance plans through Delaware’s health insurance marketplace.
  • There is a COVID-related enrollment window in Delaware that continues through August 15, 2021, allowing uninsured residents to sign up for coverage.
  • There is only one health insurance carrier, Highmark offering health plans in Delaware’s exchange.
  • Due to the state’s new reinsurance program, average health insurance premiums dropped by 19% in 2020 and by only 1% in 2021.
  • The cheapest Silver plan available across Delaware is the Health Savings Embedded Blue EPO Silver 3450 HSA plan.
  • For a 40-year-old individual, the average cost of health insurance in 2021 is $513.
  • The state has also expanded Medicaid coverage under the Affordable Care Act, thereby allowing uninsured residents with low and modest income to enroll in Medicaid plans on becoming eligible.

Different Types of Health Plans available in Delaware

Health insurance in Delaware is categorized into four different metal tiers such as Catastrophic, Expanded Bronze, Silver, and Gold metal-tier. Each metal tier of the plan pays a percentage of the insured covered expenses that range from 60% to 90%. Bronze plans have the lowest monthly premium and these plans pay just 60% of the insured healthcare costs. Gold health plans have the highest monthly premium and pay 90% of the insured healthcare costs. Besides, health plans with the lowest monthly premiums have high deductibles, so individuals who are suffering from any health issue and need to frequently visit doctors will not find Bronze health plans suitable for them. They will require to pay a significant amount of their healthcare cost from their pocket.

Average Cost of Health Insurance in Delaware by Metal Tier

Type of Plan Monthly Premium for 21 year Monthly Premium for 40-year
Catastrophic $237 $303
Expanded Bronze $323 $400
Gold $420 $529
Silver $427 $540
Platinum $534 $665

Private Health Insurance Options in Delaware

The Affordable Care Act was established to expand health insurance coverage to all Americans. The ACA aims to improve the coverage quality, expand Medicaid coverage, and has also created a health insurance marketplace from where individuals can shop for private health insurance coverage. The ACA has prohibited insurance companies from denying, canceling, charging more from people having pre-existing medical conditions. Though there is only one insurance carrier available in the state but the carrier does offer a variety of health plans that allow people the option to choose a plan that meets their healthcare needs and fits their financial situation.
Individuals looking for affordable private health insurance plans will find Bronze and Catastrophic plans ideal, but these are recommended to people who are healthy and who do not need routine medical care. Catastrophic health plans are also recommended to individuals under the age of 30 years or people who have received a hardship exemption. The cheapest Catastrophic health plan in Delaware is the Major Events Blue EPO 8550 plan and the cheapest Expanded Bronze plan is Shared Cost Blue EPO Bronze 3800 plan.

Health Insurance Carrier in Delaware

Highmark BCBSD Inc. is the only health insurance carrier offering health plans on the Delaware state exchange. However, despite the presence of a single carrier, residents of the state do have several options because this carrier is offering multiple plans within different metal-tier.

Some affordable private health insurance plan options are:

  • Shared Cost Blue EPO Silver 2900
  • Health Savings Embedded Blue EPO Silver 3950 HSA
  • Health Savings Embedded Blue EPO Silver 3450 HSA plan

Find a Right Affordable Plan For You

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