When you have a quality health insurance plan, you’ll enjoy the peace of mind of knowing that you can get the healthcare you need, when you need it. But finding that right plan can be hard, especially when you’re trying to compare plan tiers, deductibles, premiums, and different plan types.
We’ve outlined the most important information that can help you find the best health insurance in New Jersey that fits your needs – and your budget.
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The average cost of health insurance in New Jersey depends on many factors, including the plan tier that you choose. In New Jersey, you can choose from Bronze, Silver, Gold, and Platinum tiers. Bronze plans have some of the lowest premiums, but the deductibles are more expensive, so they may not be the best option if you frequently need healthcare. Gold plans have more expensive premiums but lower deductibles, making them a more popular choice for people who have frequent healthcare needs.
| Average Premium for Health Insurance in New Jersey | |
| Most Affordable Bronze Plan | $358 |
| Most Affordable Silver Plan | $435 |
| Most Affordable Gold Plan | $674 |
When you shop for health insurance in New Jersey, consider whether your employer sponsors any health insurance plans that you may be eligible for. Employer-sponsored plans usually cost less than plans that you purchase independently, and the average cost of employer-sponsored health insurance plans in New Jersey is $1,733 per year.
Since so many factors, including your age and health status, impact your health insurance rates, getting a personalized quote will give you the most accurate idea of how much to budget for your insurance. You can get a free health insurance quote from ConsumerCoverage to start exploring your plan options today.
The type of plan that you choose can also impact its overall costs. We’ve highlighted the basics of some of the most common types of health insurance in New Jersey that you might come across as you shop.
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Several free or low-cost New Jersey health insurance plans are designed for low-income individuals.
New Jersey Medicaid
New Jersey Medicaid coverage is available for low-income individuals, as well as those who are seniors, blind, or disabled. To qualify, single residents cannot earn more than $1,133 per month, and must have no more than $4,000 in cash, stocks, bonds, and other assets. Married applicants can make no more than $1,526 per month and must have no more than $6,000 in financial assets.
NJ FamilyCare
NJ FamilyCare is designed for individuals who may make too much to qualify for Medicaid. Eligible individuals include those who are pregnant or who have at least one dependent. Pregnant women can earn up to 205% of the Federal Poverty Level (FPL0, while those with a dependent can make up to 138% of the FPL.
New Jersey Medicare
Medicare in New Jersey is available in multiple plan options which cover services like hospice, outpatient services, and prescription medications. To qualify, you need to be at least 65 years old or have a qualifying disability.
Comparing quotes for health insurance in New Jersey may help you to find the best coverage at the best price. Get a free, personalized quote from ConsumerCoverage today to start shopping.
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Paige Cerulli Paige Cerulli is a freelance content writer and journalist who specializes in personal finance topics. She graduated from Westfield State University and brings more than a decade of professional writing experience to the ConsumerCoverage team. Paige’s work has appeared in outlets including USA Today, Business Insider, and more.
