You can find several reasonably priced health insurance options in Vermont that will meet your specific needs. The lowest-priced health insurance plans in your state start at $491 per month, dental add-ons at $50 per month, and vision plans at $11 per month. While coverage and costs vary depending on your age, location, household size, and other factors, a full-coverage health insurance plan will cost Vermont residents on average $760 a month, but some residents are eligible for free plans.
Vermont Health Insurance Companies
Vermont has several options for health insurance companies, all of which offer a variety of affordable plans. Two of the biggest companies offering local plans are:
Blue Cross Blue Shield of Vermont
Blue Cross Blue Shield of Vermont is one of the biggest companies offering individual and family health insurance plans in Vermont. They offer a wide range of plans that can help you balance your premium and deductible costs to meet your financial goals.
Full-coverage ACA plans start at $545 a month for individuals, and the majority of their policies offer $0 coinsurance after you meet your deductible. With a Blue Cross Blue Shield insurance plan, you’ll also have access to the company’s online wellness center, which offers health-related advice and discounts.
MVP Health Care
MVP Health Care is another company that offers individual and family ACA-approved health insurance plans on the Marketplace, including different metal tier options. Additionally, the copays and deductibles for MVP Health’s plans are lower than those of most rival health insurance companies.
Health Insurance Marketplace in Vermont
If you’re looking for health insurance in Vermont, the health insurance Marketplace is a good place to start. Marketplace health insurance, which was created by the Affordable Care Act, offers certain consumer protections, guarantees coverage for pre-existing conditions, and includes coverage for the “10 essential health benefits”:
- Ambulatory patient services (outpatient care)
- Emergency services
- Pregnancy, maternity, and newborn care (both before and after birth)
- Mental health and substance use disorder services, including behavioral health treatment (including counseling and psychotherapy)
- Prescription drugs
- Rehabilitative and habilitative services and devices
- Laboratory services
- Preventive and wellness services and chronic disease management
- Pediatric services, including oral and vision care (but adult dental and vision coverage aren’t essential health benefits)
The ACA-compliant plans offered on the Marketplace are divided into different types, known as metal tiers: Bronze, Silver, and Gold. These tiers do not signal a difference in quality of care, though. The tiers differ in your out-of-pocket costs versus what your plan covers.
It’s important to remember that the Marketplace only offers the plans of participating providers. So unfortunately, while the Marketplace is a great tool, you may not be able to compare every plan available to you.
Whether you want a Marketplace plan, or a plan from a private insurer, an EZ agent can help. We work with all carriers in your state in order to compare all options available.
Over half of the uninsured in Vermont who qualify for Marketplace insurance coverage could get a Bronze plan for FREE.
Vermont’s Short Term Health Insurance Guidelines
If you’ve missed the health insurance Open Enrollment Period (OEP), or if you need health insurance for a short amount of time, short-term plans are a great option. It’s important to note, though, that these policies tend to only cover the basics, and you can be denied one of these plans if you have a pre-existing condition.
There are some rules around short-term plans, both at the federal and the state level. Some states choose to have their own guidelines separate from federal guidelines, or don’t offer short-term plans at all. In Vermont, the sale of short-term plans is allowed, but insurers find the state’s short-term market unattractive because of laws that require all plans to cover pre-existing conditions. Therefore, there are no insurers currently offering short-term insurance in Vermont.
Vermont Health Insurance Resources
There are many different health insurance companies and plans to choose from in Vermont, and there are resources you can use to help you make your decision. One resource is actually your employer, so speak to them about your group healthcare options. While employers in Vermont are not required to offer insurance to their employees, many businesses do so. If they do offer a group plan, you could get coverage for less, because group policies are typically less expensive than individual plans.
You can also look at information about government assistance to see if you are eligible for low or no-cost healthcare. Medicare coverage is available to those who are over 65 or have a qualifying disability, regardless of their age. Medicaid offers free or low-cost coverage to individuals or families with low incomes.
Whether you decide on private health insurance, insurance supplied by your employer, or government-assisted healthcare, you should speak to an EZ agent for assistance. An EZ agent can quickly assess all of your options to find the best, most affordable plan for you.
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How to Get the Most Savings
When it comes to per capita health care spending, Vermont is among the more affordable states. With an annual average healthcare spending per person of around $12,237, they are ranked 31st out of all 50 states. But you can still find ways to save on your healthcare costs!
First of all, you should know that your insurance premiums are affected by your health, especially your body mass index (BMI). In Vermont, 26.6% of adults are obese, so if you’re among them, you could be paying more for your insurance. That means one way to save money is to maintain a healthy body mass index (BMI).
Tobacco use is another red flag for insurance companies. 13.3% of adults in Vermont smoke; if you’re one of them, you’re probably going to pay a lot more in premiums. In fact, smoking could result in a 50% increase in your premiums! So, quitting can not only lower your healthcare costs overall, but also keep your premiums low.
Taking care of your health is a great way to save money on your insurance but working with an agent is the quickest method. An EZ agent will look at your needs and budget, search for all the plans available to you, and even find local discounts you might not be aware of. The best part is that we can do all of this in a matter of minutes, and there is no charge or obligation.
Vermont Health Insurance FAQS
Does Vermont require you to have health insurance?
Vermont is one of the states that has its own health insurance mandate: as of January 1, 2020, Vermont state law requires residents to have health insurance. Affordable plans are available, though, through Vermont Health Connect.
What is the cheapest health insurance in Vermont?
The cheapest health plan will be a Bronze plan, which can start as low as $491 a month. Remember, though, health insurance plan prices can vary depending on age, zip code, gender, and other factors. More than half of Vermont residents who qualify for a Marketplace plan can actually get a Bronze plan for free.
How much does health insurance cost in Vermont?
The average monthly health insurance premium in Vermont is $760, or $9,120 per year, with plans as low as $491 a month to as high as $1,460. But do not let these numbers scare you. More than half of uninsured people in Vermont qualify for a $0 Bronze plan and don’t even know it.
Which insurance companies offer plans in Vermont?
There are over 300 health insurance companies in Vermont, which means there are hundreds of plans available! The top two insurers in your state are Blue Cross Blue Shield of Vermont, and MVP VT (MVP Health Care).
How to Enroll in Health Insurance in Vermont
There are various options for enrolling in a health insurance plan. You can speak directly to your chosen insurance company or use their website to search for and sign up for plans.
If your employer offers a group health plan, you can enroll through them. Normally, all you have to do in this situation is choose the tier you want and fill out a form; the rest will be handled by your employer.
Another option is the health insurance exchange; Vermont has its own state-run exchange called Vermont Health Connect. But keep in mind that not every insurance company joins the exchange, so you might need to look elsewhere if you’re interested in a plan offered by a company that is not on the exchange.
Whatever method you choose, working with an agent will expedite the process and make it less stressful. You can compare every type of plan with the help of an EZ agent, who can also walk you through the enrollment process step-by-step. If you work with an EZ agent, you can relax knowing that you made the right choice and followed all the necessary steps.
If you still have questions, feel free to give us a call at 877-670-3557. When you call, you will be directly connected to a local insurance agent who can answer all of your questions and help you find the health insurance plan that works best for you.