Cheapest Health Insurance in 2027: The Lowest-Cost Ways to Get Covered

Updated October 2026 for the 2027 plan year

What is the cheapest health insurance?

The cheapest health insurance depends on your income, age and job situation. Ranked from lowest to highest typical cost to you, the main routes are Medicaid or CHIP, a Silver plan with cost-sharing reductions, a subsidized Bronze plan, an affordable job-based plan, a catastrophic plan and, rarely, COBRA.

“Cheapest” here means what you pay over a full year, premiums plus care, not the sticker price. That is what makes this list different from a list of low premiums. For the wider picture of keeping costs manageable, see affordable health insurance.

Medicaid comes first because it costs the least for the people who qualify. About 41 states, including DC, have expanded Medicaid, while 10 have not (KFF). Check yours in our Medicaid eligibility guide. Children may qualify for Medicaid or CHIP even when their parents don’t; see health insurance for kids.

Is the lowest premium the cheapest health insurance plan?

No. The lowest premium is only the cheapest health insurance if you use very little care. Plans with low premiums usually have high deductibles, so a single hospital stay can push your yearly total far above a plan with a higher premium and a lower deductible.

Your real yearly cost has three parts:

1. Premiums: your monthly payment after any tax credit, times 12.
2. Cost-sharing: the deductible, copays and coinsurance you pay when you use care. See what coinsurance is.
3. The ceiling: the out-of-pocket maximum, the most you pay for in-network covered care in a year.

Three ways the math can go

A healthy year. Someone who only needs a checkup pays mostly premiums. Preventive care is covered without cost-sharing on ACA plans, so the plan with the lowest premium is usually the cheapest here.

A steady-use year. Someone with monthly prescriptions and a few specialist visits pays premiums plus many copays. A plan with copays that apply before the deductible, often Silver or Gold, can be cheaper by December even though it costs more each month.

A big-bill year. Someone who has surgery or a baby will likely reach the out-of-pocket maximum. Here the cheapest plan is the one with the lowest premiums plus out-of-pocket maximum combined, and the deductible matters less.

To run these numbers on real plans, use our guide to comparing health insurance plans. Our deductible vs. out-of-pocket maximum guide explains the ceiling.

How do subsidies make health insurance cheaper?

The premium tax credit caps what you pay for the benchmark Silver plan at a set share of your income. For 2027 that share runs from 2.15% to 10.22%, depending on income. You can use the credit on any metal level except Catastrophic, as long as you enroll through the Marketplace.

Because the credit is a fixed amount, you keep the whole credit if you pick a cheaper plan than the benchmark. That is why a Bronze plan can cost very little after the credit. The credit can’t be more than the plan’s premium, under the tax code (26 U.S.C. 36B).

The enhanced credits of 2021 to 2025 expired on December 31, 2025. For 2027 the 400% FPL cliff applies: $63,840 for one person and $132,000 for a family of four, using the 2026 HHS poverty guidelines. Look up your line in our federal poverty level chart.

When is a Silver plan cheaper than Bronze?

A Silver plan is often cheaper than Bronze over a year if your income is at or below 250% FPL, because only Silver plans carry cost-sharing reductions. They lower your deductible, copays and out-of-pocket maximum while the premium stays the same as a regular Silver plan.

HealthCare.gov estimates that a standard Silver plan pays about 70% of covered costs and Bronze about 60%; with cost-sharing reductions, the plan pays more and you pay less (HealthCare.gov). The lower your income in that range, the bigger the boost.

The trade-off is simple. Bronze usually has the lower premium after your credit. A CSR Silver plan usually has the lower bill when you use care. If you expect more than a checkup, price both. Members of federally recognized tribes and Alaska Native Claims Settlement Act shareholders may qualify for extra cost-sharing protection. Our guide to cost-sharing reductions has the income bands, and Bronze vs. Silver vs. Gold vs. Platinum compares all tiers.

What is the cheapest health insurance if you are under 30?

If you are under 30, the cheapest health insurance is often a parent’s plan until 26, then a subsidized Marketplace plan or Medicaid. A catastrophic plan is cheaper only when you get little or no premium tax credit, because the credit can’t be used on catastrophic coverage.

Children can stay on a parent’s plan until age 26 (HealthCare.gov). After that, catastrophic plans have low premiums and very high deductibles, cover three primary care visits a year before the deductible, and cover preventive care. Compare one against a subsidized Bronze plan before you choose; read our catastrophic health insurance guide and health insurance for young adults.

Is job-based coverage or COBRA cheaper than the Marketplace?

An affordable job-based plan is usually cheaper than the Marketplace because your employer pays part of the premium. COBRA is usually the most expensive option, because you pay the full premium, including the employer’s share, plus up to 2% for administration.

For 2027, a job-based plan counts as affordable if the employee’s share for the lowest-cost self-only plan is no more than 10.22% of household income. If the offer is affordable, you generally can’t get a premium tax credit instead. If it isn’t, you may qualify for Marketplace savings (HealthCare.gov).

COBRA can still make sense if you have already met most of this year’s deductible or are mid-treatment with a doctor you can’t lose. Otherwise, leaving a job opens a 60-day Special Enrollment Period for the Marketplace. Compare both in COBRA vs. Marketplace. If your employer offers an Individual Coverage HRA, see ICHRA explained, and if you are retiring before 65, see health insurance for early retirees.

What cheap health insurance should you avoid?

Be careful with plans that look cheap because they cover less: short-term medical plans, discount cards and health care sharing ministries. They can be cheaper each month, but they are not ACA coverage and can leave you paying the big bills yourself.

• Short-term plans. A KFF review found all the short-term products it studied excluded pre-existing conditions, and almost all excluded maternity care (KFF). See our short-term health insurance guide.
• Discount plans. The Texas Department of Insurance says discount health care programs are not insurance; members pay the provider themselves (TDI).
• Sharing ministries. Michigan’s insurance regulator says they are not health insurance and are not legally obligated to pay medical costs (Michigan DIFS).

None of these should replace an ACA plan if you have a health condition or expect care. Honesty compares them honestly, with the exclusions spelled out.

How do you find the cheapest health insurance for you?

To find the lowest-cost coverage for your household, check Medicaid and CHIP first, estimate your 2027 income, then compare every Marketplace plan on premiums plus expected care. Enroll during Open Enrollment, November 1, 2026 to January 15, 2027 on HealthCare.gov.

1. Apply through the Marketplace, which screens for Medicaid and CHIP at the same time.
2. Estimate 2027 income and find your FPL percentage.
3. Check job-based offers against the 10.22% affordability test.
4. Price three plans: the cheapest Bronze, the cheapest Silver and a Gold plan.
5. Add premiums to expected care for a healthy year and a big-bill year.
6. Check networks and drug lists before you decide; see in-network vs. out-of-network.
7. Re-shop every fall. Insurers proposed a median 15% premium increase for 2027 (KFF).

The full process, with dates and where to shop, is in our pillar guide on how to shop for health insurance. Marketplace plans cost the same whether you enroll yourself or with a licensed agent; HealthCare.gov says you won’t pay anything additional. To check an agent’s license, see our health insurance broker guide.

How Honesty finds your lowest-cost plan

Honesty®, a licensed AI insurance agent from Honesty® Insurance Services, LLC (NPN 21094885), checks Medicaid, CHIP and your premium tax credit first, then compares ACA, alternative and ancillary plans on total yearly cost for your family’s needs. It is unbiased among carriers and never steers you to one company.

• Same price: your Marketplace premium is the same as enrolling yourself.
• Privacy: we never sell or share your data, and there are no spam calls.
• Enrolls in minutes, 24/7 by chat, voice or text. Licensed in 49 states and DC. Not affiliated with HealthCare.gov or CMS.

See how Honesty.AI works or start with health insurance quotes.

A low monthly contribution can hide big gaps; our guide to the health care sharing ministry explains why it isn’t insurance and doesn’t qualify for a subsidy.

Frequently asked questions

Keep learning: what health insurance costs in 2027, what a premium is, the health insurance marketplace, the best health insurance companies and health insurance for the self-employed.