2021 Affordable Health Insurance Plans in Mississippi

There are currently two health insurance providers in Mississippi, making it somewhat difficult for residents to shop for affordable plans. Mississippi residents can enroll in individual and family health insurance plans through the federal exchange.

During the 2020 open enrollment period, 98,892 people enrolled in health insurance in Mississippi, an increase of almost 12% enrollment in 2019. This was the highest percentage increase in enrollment in the United States. 

Highlights and updates

  • Mississippi uses the federally run exchange, with residents enrolling through Healthcare.gov.
  • Short-term health plans are available for up to 364 days.
  • Two insurers offer coverage through the Mississippi marketplace.
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How to buy health insurance in Mississippi

Some Mississippi residents may already receive health insurance through an employer or through the federal government. For those who do not, there are two private insurance companies that offer health plans through the federal exchange. Health insurance in Mississippi is offered in three tiers: Bronze, Silver and Gold. 

How to apply for health insurance in Mississippi

The open enrollment for 2022 health insurance plans in Mississippi begins on November 1, 2021. Health insurance plans in Mississippi are available to residents via the federal exchange.

Health Insurance Carriers In Mississippi

There are two health insurance carriers in Mississippi: Ambetter of Magnolia and Molina Healthcare.

What Are The Cheapest Health Insurance Companies in Mississippi?

Of the two insurance companies offering health insurance in Mississippi, Ambetter of Magnolia is often more inexpensive. The cheapest health Bronze insurance plan in Mississippi currently has a monthly premium of $425. 

How Has Obamacare Helped Mississippi’s Uninsured?

In Mississippi, more than 90% of insurance enrollees qualified for premium subsidies through Obamacare (the Affordable Care Act) in 2020, and 89% received cost-sharing reductions. This is the highest percentage of health insurance enrollees who receive cost-sharing reductions through the Affordable Care Act in the United States. 

Mississippi’s uninsured rate has dropped significantly since introducing the Affordable Care Act, though it is still higher than the national average. Mississippi’s uninsured rate fell from 17.1% in 2013 to 12.1% in 2018.

Mississippi Health Insurance Costs Overview

The cost of health insurance in Mississippi will depend on many factors, including the carrier you choose, the tier of package you need, and other factors, including where you live and your general health status.

The following premiums are calculated for the average 40-year-old.

How Much Does Health Insurance Cost in Mississippi?

The average monthly premium for a 40-year-old resident of Mississippi is $500 per month. 

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What is the Cheapest Health Insurance Plan in Mississippi?

Premiums for the forthcoming year in Mississippi are set by an insurer and approved by the federal health insurance exchange. In 2020, there were minimal changes to the cost of Bronze, Silver and Gold health insurance plans in Mississippi. Bronze was the only tier that saw a premium increase.

Cheapest Mississippi Health Insurance Coverage by Metal Tier

Gold Plans

Platinum plans are not offered in Mississippi, making Gold plans the highest tier of health insurance available. This insurance tier is ideal for those with high medical costs due to chronic or ongoing health issues. 

Ambetter Secure Care 5
Estimated monthly premium: $540
Deductible: $1,250
Out-of-pocket limit: $5,900

Silver Plans

Silver plans are a middle-of-the-road plan suited to healthy individuals and have lower premiums than a Gold plan and lower out-of-pocket expenses than a Bronze plan. Individuals whose income falls below 250% of the federal poverty level may qualify for discounts toward deductibles, copayments, and coinsurance.

Ambetter Balanced Care 11
Estimated monthly premium: $399
Deductible: $6,000
Out-of-pocket maximum: $8,100

Bronze Plans

Bronze plans are ideal for young, generally healthy people who have enough money saved to pay the high out-of-pocket costs associated with a low monthly premium. 

Core Care Bronze 2
Estimated monthly premium: $425
Deductible: $8,000
Out-of-pocket maximum: $8,125

Mississippi Health Insurance Costs by Occupation

What is the average cost of health insurance for a student in Mississippi?

In Mississippi, children can stay on their parent’s health insurance plan until they are 26 years old. Many universities in Mississippi offer health insurance for students who are unable to access health insurance through a family plan. Yearly coverage at Mississippi State University costs $2,004, while costs at the University of Mississippi range between  $335 and $2,004, depending on the period of enrollment. 

 What is the average cost of health insurance for self-employed people in Mississippi?

Self-employed individuals will not have access to the health insurance coverage provided by an employer. They must therefore purchase a plan for themselves or their families from a private carrier. The cost of this coverage will vary depending on individual and family needs. Please refer to our list of Cheapest Mississippi Health Insurance Coverage by Metal Tier. 

What is the average cost of health insurance for small business owners in Mississippi?

In Mississippi, small business owners have access to a Small Business Health Options Program (SHOP). The health insurance marketplace for small employers is called One, Mississippi, where small business owners can learn about and purchase group health insurance plans and determine the type of coverage offered and how much they contribute toward employee premiums. (Source)

While employers with fewer than 50 employees do not have to offer group health insurance, those that do may be eligible for a tax credit in Mississippi. Employers must employ no more than 25 full-time equivalent employees to receive the credit and pay an average annual wage below $50,000. Employers must also pay a uniform percentage for all employees, at least 50% of the premium cost of individual health insurance. (Source)

 Mississippi Health Insurance Costs by Number of Participants

What is the average cost of health insurance for families in Mississippi?

The cost of health insurance will depend on the number of people being insured. The cost of a Silver-tier plan for a family of four with two children under the age of 14, earning the average household income for Mississippi of $45,081, is $1,374 per month. With financial help available to individuals at this income level, those premiums could be as low as $33 per month. 

What is the average cost of health insurance for individuals in Mississippi?

The cost of health insurance for an individual in Mississippi will depend on their plan tier and any changes to personal health or existing health conditions. The average cost of health insurance for an individual in Mississippi is currently $500 per month.

What is the average cost of health insurance for a child in Mississippi?

There are two health insurance options for children in Mississippi: CHIP, the Children’s Health Insurance Program, and Medicaid. 

To be enrolled in CHIP, children must be ineligible for Medicaid, be 19 years of age or younger, and the household income cannot be more than 209% of the federal poverty level. (Source)

Other Types of Mississippi Health Insurance Coverage

Catastrophic health insurance in Mississippi

Catastrophic health insurance is not offered in Mississippi. 

Short term health insurance in Mississippi

In Mississippi, short-term health insurance coverage can be a health insurance option for those who missed the open enrollment period or recently lost employer-sponsored coverage. Mississippi residents can enroll in a short-term plan for up to 364 days and renew the same plan for up to 36 months.

Low-income health insurance in Mississippi

Medicaid is available for low-income individuals in the state. However, Mississippi did not expand Medicaid through the Affordable Care Act, so Medicaid is currently only available to adults with dependent children who have an income 23% or less than the federal poverty level. In addition, pregnant women are eligible for Medicaid if they have a household income of up to 194% of the poverty level.

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