UPDATED: SEPTEMBER 05, 2023 | 3 MIN READ
The state’s official health insurance Marketplace is called Get Covered New Jersey. Families and individuals shop easily for health insurance in New Jersey. Below, we compare plans and show you the cheapest health insurance in New Jersey so you can make an informed decision.
New Jersey Open Enrollment dates for health insurance
New Jersey’s Open Enrollment period runs annually from November 1st to January 15th.
Health insurance demographics in NJ
New Jersey health insurance demographics help insurers determine the cost of your health insurance coverage.
- Average Household Income: The average household income is $117,868. The median household income is $85,245.
- Median Age Range: The median age is 40 years of age.
- Education: In New Jersey, 40.7% of residents have a bachelor’s degree or higher.
What type of health insurance Marketplace does New Jersey have?
New Jersey has an exchange platform called GetCoveredNJ. There are four insurers in the exchange, and it’s a new state-funded program with subsidies that have expanded to more households.
How many people are insured through the New Jersey health insurance marketplace?
New Jersey’s exchange peaked in 2017 with 295,000 enrollees and then declined each year through 2020 to only 247,543. But it jumped up again in 2021 with an increase to 269,560 enrollees. There is already a record high of 311,692 for 2022 as of January 15.
Did New Jersey implement the ACA’s Medicaid expansion?
New Jersey did adopt the ACA’s Medicaid expansion and utilized federal funding to provide health insurance as of 2014. Since then, Medicaid’s enrollment has increased by 46%.
When can you purchase ACA health insurance in New Jersey?
The enrollment period for health coverage in New Jersey runs from November 1, 2022, to January 31, 2023. It’s a couple of weeks longer than most states as it runs its exchange. You need a qualifying event to enroll or change coverage outside the enrollment period.
Types of ACA plans in New Jersey
A few different options are available for Affordable Care Act health insurance plans in New Jersey. Plans such as Medicaid and Medicare are available for low-income people and within the health insurance exchange. Private plans are also available for those not qualifying for Medicaid or Medicare.
What carriers offer ACA health insurance in New Jersey?
Four insurers in 2022 offer plans through New Jersey’s exchange. The new player for 2022 is WellCare, along with three others who have already offered plans as of 2021. The following insurers offer health insurance in New Jersey:
- Oscar Health
- AmeriHealth
- Ambetter from WellCare of New Jersey
- Horizon Healthcare Services
How much does health insurance cost in New Jersey?
The average cost of health insurance in New Jersey in 2022 across all metal tiers is $583 monthly. It’s an increase of 3% from 2021.
Cheapest health insurance by metal tier in New Jersey
Metal tiers provide different coverage levels and have different premiums. The table below is broken down by tier and shows the cheapest plan available.
| Metal Tier | Cheapest Plan | Monthly Premium | Deductible | Maximum Out-of-Pocket |
|---|---|---|---|---|
| Bronze | IHC Bronze EPO HSA AmeriHealth Advantage | $340 | $6,000 | $7,050 |
| Silver | Horizon Blue Cross Blue Shield Value Access Silver | $380 | $2,500 | $8,700 |
| Gold | Oscar Gold Classic | $595 | $2,000 | $5,700 |
Cheapest health insurance by county
Your location also plays a role in the cost of your health insurance. Use the table below to see the cheapest family and individual plan options in the state’s largest counties.
| County Name | Cheapest Plan | Individual, Age 40 | Couple, Age 40 |
|---|---|---|---|
| Bergen | OMNIA Silver Value | $425 | $845 |
| Essex | IHC Silver EPO AmeriHealth Advantage | $400 | $800 |
| Hudson | IHC Silver EPO AmeriHealth Advantage | $400 | $800 |
| Middlesex | IHC Silver EPO AmeriHealth Advantage | $400 | $800 |
| Monmouth | IHC Silver EPO AmeriHealth Advantage | $400 | $800 |
Are health insurance subsidies available in NJ?
New Jersey residents have access to a state subsidy that lowers the cost of health insurance called New Jersey Health Plan Savings (NJHPS). As of May 2021, state-funded subsidies are available to households with income up to 600% of the poverty level.
Can you purchase off-exchange health insurance coverage in New Jersey?
Residents of New Jersey have the option of purchasing a health plan off-exchange from AmeriHealth New Jersey. There are many cost-saving alternatives involved in the off-exchange plan.
Can you purchase short-term insurance in New Jersey?
There isn’t any short-term health insurance in New Jersey. They aren’t for sale as the plans available include requirements that aren’t compatible with the short-term plans. It’s prohibited in the state and hasn’t been sold in New Jersey for 25 years.
Coverage options for low-income people
Many excellent health insurance options are available for low-income people in New Jersey. Medicaid and Medicare are two options that give you coverage when needed.
What Medicare options are available in New Jersey?
Residents in New Jersey who are 65 or older or have a disability qualify for Medicare. The government assistance program helps to pay for medical services. It isn’t free, however, and does require some form of payment. Nevertheless, it’s still a cheaper option than private health insurance.
Remember, when choosing a Medicare plan, Medicare supplements, like Medigap, help cover the gap between the government’s services and your medical expenses. Consider Part D, prescription drug coverage, if you have hefty monthly prescription costs.
Medicaid in New Jersey
Another alternative to private health insurance in New Jersey is Medicaid. It’s a government program that is free to low-income people. If you make less than 138% of the federal poverty level and also fall under at least one of the following categories, you qualify:
- Pregnant women
- Families with dependent children
- People who are 65 or older, blind, or permanently disabled
Cheapest health plans in New Jersey
There are plenty of cheap options available for New Jersey health insurance. Whether you are looking for private insurance, HMOs, or a Health Savings Account, we have all the information you need.
Cheapest health plan with low out-of-pocket maximums
A high premium plan with low out-of-pocket costs is excellent for individuals with recurring medical expenses. It does have higher premiums, but if you’re visiting the doctor frequently and purchasing prescriptions, it helps you reach your maximum quickly. It means that your insurer starts covering costs sooner.
The cheapest plan is with Oscar Garden State Insurance at $450 monthly with an out-of-pocket maximum of $4,250.
Cheapest health plan with high out-of-pocket maximums
People with low medical expenses might opt for a plan with high out-of-pocket costs. The premium is lower, and they only accrue medical expenses when they need medical care. Horizon Blue Cross Blue Shield of New Jersey has the cheapest plan at $287 monthly with a high out-of-pocket max of roughly $8,250.
Cheapest health plan with an HSA option
Health savings accounts are great for people who have low medical costs. It allows you to save money tax-free that you only use if you have medical expenses. The cheapest plan is with AmeriHealth Insurance Company of NJ at $337 monthly.
Cheapest HMO/PPO/POS health plans in New Jersey
Two plans are available in New Jersey: a Health Maintenance Organization (HMO) plan and an Exclusive Provider Organization (EPO) plan. The most affordable option is the HMO, but it is limited in the provider network. EPO is more flexible, and you won’t need a referral for a specialist.
AmeriHealth HMO Inc. has the cheapest at $387 monthly, and AmeriHealth Ins Company NJ has the cheapest EPO at $377 monthly.
FAQs
Does New Jersey have free healthcare?
Medicaid is the only free healthcare program in New Jersey and is only available for qualified low-income people.
How much is health insurance in NJ per month?
The average cost of health insurance in New Jersey is $583 monthly across all metal tiers.
What’s the income limit for Get Covered NJ?
You may qualify for financial assistance if your yearly income is up to $77,280 for an individual or under $159,000 for a family.
Who qualifies for Medicaid in NJ?
You must make less than 138% of the federal poverty level and either be pregnant, have dependents, or be over 65, blinded, or disabled.
What is Get Covered NJ?
Get Covered New Jersey is the state’s official health insurance marketplace. Families and individuals can shop and buy health coverage through it.
How to buy New Jersey health insurance
Finding New Jersey health insurance isn’t difficult. First, you should assess your medical needs and choose a plan type. Then, use our online quoting tool to get several quotes quickly. This allows you to choose the best coverage at the lowest price.
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