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How To Find the Best Health Insurance in Indiana

author-photoWritten by Preston Micalizio
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Preston Micalizio

Preston Micalizio writes insurance content for SmartFinancial. He brings three years of professional experience writing ...

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editor-photoEdited by Dan Marticio
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Dan Marticio

Dan Marticio is the content manager at SmartFinancial and has written 150+ articles across multiple insurance verticals....

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Updated September 26, 2024

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You’ll want to compare rates from different insurance companies to find the best plan for you when looking for health insurance in Indiana. While you won't receive a tax penalty if you don't have health insurance in this state, if you get sick or injured and need a lot of expensive care, having coverage can help you avoid going into severe medical debt.

Read on to learn more about Indiana health insurance, including the cheapest plans, how much health insurance costs in some of the state's biggest cities and the different kinds of available health care.

Key Takeaways

  • The average monthly cost of a benchmark Marketplace health plan is $399 in Indiana.
  • Indiana doesn’t levy any penalties or fines for not having health insurance coverage.
  • CareSource offers the cheapest rates in Indiana for silver plans, but other carriers may offer cheaper rates, depending on where you live.
  • Open enrollment in Indiana lasts from November 1st to January 15th, but if you want coverage to start on January 1st, any plan changes must be locked in before December 15th.
  • Alongside Medicaid services, those who don’t meet the income threshold but are below certain income levels may be eligible for low-cost health care through the Healthy Indiana Plan (HIP).

On This Page

Expand Table of Contents

Is Health Insurance Required in Indiana?

While Americans are technically required to have health insurance that covers a certain benefits, there is no longer any federal tax penalty for people who don't sign up for a coverage plan as of the 2018 tax year.[1] Similarly, Indiana is not a state with fines or additional taxes for not having a health care plan.[2]

In addition, there is no state-level penalty for not having health insurance in Indiana, making having health insurance largely optional in the state. However, without coverage, you'll likely have to pay for any medical bills out-of-pocket. Consider whether going without coverage is worth the risk of medical debt before deciding to forgo insurance for your medical care.

Indiana Health Insurance Rankings

The Commonwealth Fund ranked Indiana 34 out of 51 in an analysis that took a holistic look at the health care systems in each U.S. state and Washington, D.C. Compared to other states, Indiana ranked 28th in terms of access and affordability for health care but 47th, the state’s lowest score, in avoidable hospital use and cost. When considering all metrics, the state ranked last among five Great Lake states, including Illinois, Michigan, Ohio and Wisconsin.[3]

Below is an overview of Indiana’s national rank in each of the dimensions analyzed by the Commonwealth Fund:[3]

Dimension

National Rank

Reproductive & Women’s Health

32

Access & Affordability

28

Prevention & Treatment

31

Avoidable Hospital Use & Cost

47

Healthy Lives

38

Income Disparity

29

Racial & Ethnic Health Equity

34

How Much Does Health Insurance Cost in Indiana?

IN Monthly Premium for Lowest-Cost Plan by Metal Tier

Marketplace benchmark plans in Indiana cost $399 per month on average, slightly less expensive than the nationwide average of $477 per month. On average, Indiana residents pay a monthly premium of $335 for the lowest-cost bronze plan available in the state, $394 for the lowest-cost silver plan and $517 for the lowest-cost gold plan.[4]

Average Cost Benchmark Premium by State

Cheapest Health Insurance Options in Indiana

The bronze level of health insurance plans through the Affordable Care Act Marketplace is usually the cheapest for people in Indiana. These plans have higher deductibles, copaysand coinsurance, but their monthly premiums are usually less.

However, depending on your health care needs, another tier plan may be preferable. For example, if you need to see the doctor often because of a chronic illness, like heart disease, you might benefit from a plan with a higher monthly premium but lower out-of-pocket costs.

health insurance tiers

Preferred provider organization (PPO) plans often cost more than health maintenance organization (HMO) plans, but HMO plans might not offer as many benefits. If you choose an HMO plan, for example, you might need a referral from your primary care doctor to see an expert and you might not be able to get as much non-emergency care through the HMO’s typically more limited network.

What Is the Average Cost of Health Insurance in Indiana by City?

Below, we’ll review the median monthly rates across all metal tiers for individual health insurance plans for 30-year-olds making $40,000 per year in five major cities in Indiana before considering premium tax credits.[5]

City, Zip Code

Quote

Indianapolis, 46227

$384.62

Fort Wayne, 46835

$434.26

Evansville, 47714

$412.80

South Bend, 46614

$394.14

Fishers, 46037

$374.27

IN Median Monthly Rates in Major Cities

Which Health Insurance Companies Are the Most Affordable in Indiana?

CareSource offers Indiana's most affordable health insurance plans in the silver tiers. However, for some, Anthem Blue Cross Blue Shield (BCBS) might be a better option due to higher customer satisfaction for only a dollar more on average. Ambetter may offer a cheaper alternative depending on where you live, with the lowest rates in 44% of the state, including Indianapolis and Fort Wayne.[6]

Below is an overview of Indiana health insurers with an average monthly premium below $500 for 40-year-olds buying silver plans.[6]

Health Insurance Company

Average Premium

CareSource

$374

Anthem BCBS

$375

Ambetter

$384

Cigna

$426

When Is Open Enrollment for Health Insurance in Indiana?

During the standard open enrollment period, which lasts from November 1 to January 15, people in Indiana can sign up for a Marketplace health insurance plan.[7] Keep in mind that you must lock in any changes to your health coverage plan by December 15 to start getting coverage on January 1 of the following year.[8]

Certain life events can trigger a special enrollment period, allowing you to enroll for a Marketplace plan outside the regular open enrollment period. Some qualifying events include moving, marriage, becoming a parent and losing employer-based health insurance. The special enrollment period typically lasts 60 days before or after most qualifying events.[9]

What Types of Health Insurance Are Available in Indiana?

Some of the major types of health insurance you can purchase in Indiana include the following:

How To Get Health Insurance in Indiana?

You should get health insurance quotes from three to five different companies so that you can compare a variety of policy options. Getting these quotes one by one can be time-consuming, but you can speed up the process using an insurance marketplace like SmartFinacial.

After you answer a few questions, we can connect you with one of our agents who can help you find affordable health insurance that fits your needs. Click here for a free quote for an Indiana health insurance plan today!

Get a Free Quote for Indiana Health Insurance Today!

FAQs

Is health insurance expensive in Indiana?

Average premiums for health insurance Marketplace plans in Indiana are lower than the national average, with benchmark plans costing $78 less monthly in 2024.[4]

Is Medicare available in Indiana?

Yes, you can enroll in Original Medicare or Medicare Advantage plans in Indiana if you meet the eligibility requirements.

Have health insurance rates gone up in Indiana?

Yes, the average benchmark monthly premium in Indiana increased by $12 between 2020 and 2024.[4]

What happens if I don’t sign up for health insurance in Indiana?

You won’t be fined for not having health insurance in Indiana, but you’ll be responsible for covering your healthcare costs entirely out of pocket. Alternatively, you can buy coverage directly from an insurance company or buy short-term health insurance with a term of up to six months, although it may not cover all of the essential health benefits otherwise covered under a Marketplace plan.[10]

Is there access to free health care in Indiana?

Yes, Indiana offers Medicaid programs for children, disabled residents, pregnant women and others who meet a specific income threshold based on their household. While not free, Indiana also offers the Healthy Indiana Plan, an affordable health care option for residents aged 19 to 64 who make less than approximately 138% of the federal poverty level and don’t qualify for Medicaid. [11][12]

Sources

  1. HealthCare.gov. “Exemptions From the Fee for Not Having Coverage.” Accessed Sept. 23, 2024.
  2. KFF. “I’m Uninsured. Am I Required To Get Health Insurance?” Accessed Sept. 23, 2024.
  3. Commonwealth Fund. “2023 Scorecard on State Health System Performance: Indiana,” Page 1. Accessed Sept. 23, 2024.
  4. KFF. “Average Marketplace Premiums by Metal Tier, 2018-2024.” Accessed Sept. 23, 2024.
  5. HealthCare.gov. “Health Insurance Plans & Prices.” Accessed Sept. 23, 2024.
  6. ValuePenguin. “Best Cheap Health Insurance in Indiana.” Accessed Sept. 23, 2024.
  7. Anthem. “Open Enrollment for Health Insurance 2025.” Accessed Sept. 23, 2024.
  8. HealthCare.gov. “When Can You Get Health Insurance?” Accessed Sept. 23, 2024.
  9. HealthCare.gov. “Special Enrollment Period (SEP).” Accessed Sept. 23, 2024.
  10. IN.gov. “Short-Term, Limited-Duration Health Plans in Indiana.” Accessed Sept. 26, 2024.
  11. Indiana Medicaid. “Eligibility Guide.” Accessed Sept. 23, 2024.
  12. Indiana Family and Social Services Administration. “Healthy Indiana Plan.” Accessed Sept. 23, 2024.
About the Author
Preston Micalizio
Preston Micalizio
Health Insurance Expert

Preston Micalizio writes insurance content for SmartFinancial. He brings three years of professional experience writing in various industries, from higher education to e-commerce. He strives to engage with the audience, provide accurate reporting and make complex subjects easily digestible.

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