2021 Affordable Health Insurance Plans in New Jersey

New Jersey’s healthcare marketplace is unique in that the state has transitioned away from the federally supported platform, healthcare.gov. COVID-19 related enrollment continues through December 31, 2021, which will overlap with the open enrollment period for 2022 on November 1, 2021.

New Jersey residents can complete their enrollment through the state’s health insurance exchange platform, GetCoveredNJ. In December of 2020, New Jersey introduced S.3238, which provided legislation to create an easy enrollment program. The bill passed into law in June of 2021. The new law allows the state of New Jersey to identify people who may be eligible for Medicaid or premium assistance through state tax returns.

Highlights and Updates

  • New Jersey does not use the federal health insurance exchange platform, opting to use its own state-based platform.
  • Open enrollment in New Jersey is from November 1 – January 31. Currently, however, it has been extended for COVID-19 related enrollments through December 31.
  • New Jersey does not support the sale of short-term health insurance.
  • The average monthly benchmark premium cost in New Jersey is $534.
  • The insurance plan availability may vary, depending on where you live in the state.
Speak to a
Licensed Agent
1 (844) 612-0518
OR
Get Your FREE
Insurance Quote

How to buy Health Insurance in New Jersey

Many New Jersey residents carry insurance through their employers. If you do not receive health insurance benefits through your employer or from the federal government, you can access the certified partner enrollment sites via nj.gov/getcoverednj

New Jersey moved away from the federal marketplace in 2020. Availability of all plans varies based on where you live, but there are three insurers offering healthcare coverage in New Jersey: Oscar Health, Horizon Blue Cross Blue Shield of New Jersey, and AmeriHealth New Jersey.

Insurance is provided at three different options with varying costs and options. These tiers are referred to as Bronze, Silver, and Gold. For some low-income residents, health insurance may be available through Medicaid. New Jersey also offers catastrophic insurance plans through their state health exchange.

How to Apply for Health Insurance in New Jersey

Enrollment is simple and can be done through the state marketplace exchange.

Demographic information is important to New Jersey residents, as not all insurance plans are available in all areas. The state’s exchange website will ask applicants for a zip code to match them with health insurance plans available in the specified area.

Health Insurance Carriers in New Jersey

New Jersey has three health insurance carriers:

  • AmeriHealth
  • Oscar
  • Horizon Blue Cross Blue Shield

What are the Cheapest Health Insurance Companies in New Jersey?

The cheapest health insurance company in New Jersey is AmeriHealth.

How has Obamacare Helped New Jersey’s Uninsured?

New Jersey participated in a Medicaid expansion after the Affordable Care Act. According to the U.S. Census, New Jersey’s uninsured residents were 13.2% of the state’s population. By 2017, the number of uninsured residents had decreased significantly, and the state’s population reflected 7.7% uninsured residents.

New Jersey Health Insurance Costs Overview

New Jersey offers three tiers of health insurance – Bronze, Silver, and Gold.

How Much Does Health Insurance Cost in New Jersey?

In 2021, the average monthly health insurance premium in New Jersey is $435. This is a 7% increase over the prior year’s average rate.

Speak to a
Licensed Agent
1 (844) 612-0518
OR
Get Your FREE
Insurance Quote

What is the Cheapest Health Insurance Plan in New Jersey?

The cheapest health insurance plan in New Jersey is the IHC Bronze EPO HAS AmeriHealth Advantage $25/$50.

Cheapest New Jersey Health Insurance Coverage by Metal Tier

Gold Plans

Oscar Gold Classic Option 1 is the most affordable Gold plan. The premium is $637 per month. The deductible is $2,000, and the out-of-pocket maximum is $4,500.

Silver Plans

OMNIA Silver Value is the low-cost Silver plan, with a premium cost of $388 per month. The deductible is $2,500, and the out-of-pocket maximum is $8,550.

Bronze Plans

The most affordable Bronze plan is IHC Bronze EPO HAS AmeriHealth Advantage $25/50, with monthly premiums of $319, a $6,000 deductible, and a $7,000 out-of-pocket maximum.

New Jersey Health Insurance Costs by Occupation

What is the Average Cost of Health Insurance for a Student in New Jersey?

New Jersey requires that all institutes of higher learning offer health insurance to their students. Students are charged for health insurance by the university or college and must opt-out if they do not want to participate in the school’s provided health care option.

What is the Average Cost of Health Insurance for the Self-Employed in New Jersey?

Self-employed individuals can sign up for a health insurance coverage plan on the state’s marketplace.

What is the Average Cost of Health Insurance for Small Business Owners in New Jersey?

Small business owners in New Jersey may enroll in Small Employer Health Benefits (SEH) on the state’s marketplace to select affordable rates for themselves and their employees. The costs vary, but employers can compare the rates using the online calculator or by accessing the rates at the state’s division of health website. AmeriHealth plans, for instance, start at $249 but vary based on age and territory factors.

New Jersey Health Insurance Costs by Number of Participants

What is the Average Cost of Health Insurance for Families in New Jersey?

Health insurance rates may vary in New Jersey due to the limited availability of health insurance carriers in various counties. However, the average monthly premium for a couple is $777.

What is the Average Cost of Health Insurance for Individuals in New Jersey?

The average cost of health insurance for a 40-year-old individual is $388.

What is the Average Cost of Health Insurance for a Child in New Jersey?

Children in New Jersey might be eligible to receive Medicaid or New Jersey’s State Child Health Insurance Program (CHIP) benefits at little to no cost through New Jersey’s Family Care. New Jersey’s Family Care is available to children under the age of 18, with family incomes up to 355% of the federal poverty level.

It is also available to parents or caregivers aged 19 to 64 with incomes up to 138% of the federal poverty level or pregnant women up to 205% of the federal poverty level.

Other Types of New Jersey Health Insurance Coverage

Catastrophic Health Insurance in New Jersey

Catastrophic health insurance plans are available for purchase by New Jersey residents through the state’s market exchange. These plans have low monthly premiums but carry high deductibles.

They are intended for use during dire circumstances and are an affordable option to protect yourself financially from unexpected serious injury or illness. These plans are generally only available to qualifying individuals under the age of thirty.

The cheapest Catastrophic insurance plan is Classic Secure, which offers a monthly premium of $231 and an out-of-pocket maximum of $6,550.

Short Term or Temporary Health Insurance in New Jersey

New Jersey does not allow short-term or temporary health insurance plans. However, the enrollment period for their state marketplace has been extended for COVID-19 and does allow residents with certain life changes to purchase health plans on the marketplace outside of open enrollment periods.

Low-Income Health Insurance in New Jersey

Low-income New Jersey residents can apply for Medicaid.

Speak to a
Licensed Agent
1 (844) 612-0518
OR
Get Your FREE
Insurance Quote