How To Find the Best Health Insurance in Tennessee

You can find the best health insurance in Tennessee at the lowest price possible by comparing quotes from multiple different health insurance companies. Shopping around is especially important since health insurance is fairly expensive in Tennessee.

Keep reading for more information about Tennessee health insurance plans such as what types of health plans tend to be the cheapest and when you can sign up for coverage.

On This Page

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  Is Health Insurance Required in Tennessee?

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  Tennessee Health Insurance Rankings

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  How Much Does Health Insurance Cost in Tennessee?

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

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  Which Health Insurance Companies Are the Most Affordable in Tennessee?

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  When Is Open Enrollment for Health Insurance in Tennessee?

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  What Types of Health Insurance Are Available in Tennessee?

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  How To Get Health Insurance in Tennessee

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  FAQs

Is Health Insurance Required in Tennessee?

State law does not require you to maintain health insurance in Tennessee. While federal law technically does require it, the federal government lowered the individual mandate penalty to $0 beginning with the 2019 tax year, making health insurance de facto optional.^[1]

Tennessee Health Insurance Rankings

Tennessee has one of the worst health care systems in the United States, according to a 2023 state-by-state analysis by the Commonwealth Fund. The Volunteer State was rated 46th out of 51 across all metrics and did not place in the top half of the nation for any single metric. See the below table for Tennessee’s rank in all of the dimensions included in the study.^[2]

How Much Does Health Insurance Cost in Tennessee?

Health insurance premiums are somewhat higher than average in Tennessee, where it costs $501 per month to enroll in a Marketplace benchmark health plan. Conversely, the average cost of a benchmark plan nationwide is $477 per month. Tennesseans also pay an average of $378 per month for the state’s lowest-cost bronze plan, $490 per month for its lowest-cost silver plan and $504 per month for its lowest-cost gold plan.^[3]

Cheapest Health Insurance Options in Tennessee

You can secure lower monthly premiums for your health insurance plan by opting for coverage in the bronze tier. However, the trade-off is that you will have to spend more money out of pocket each time you receive health care with this type of plan.^[4]

Conversely, health maintenance organization (HMO) plans require you to spend less on both premiums and out-of-pocket costs like deductibles, copays and coinsurance. The trade-off with these plans is that, unlike a preferred provider organization (PPO), an HMO will not help pay for you to see a specialist without a referral or receive routine care from a provider who is not in your plan’s network.^[5]

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

The following table includes median health insurance rates for five major cities in Tennessee. All of the quotes listed below apply to a sample population consisting of 30-year-olds making $40,000 a year and the quotes do not consider premium tax credits.^[6]

Which Health Insurance Companies Are the Most Affordable in Tennessee?

If you live in Tennessee and want the cheapest possible coverage in the silver tier, your best bet is to buy a health plan from Blue Cross Blue Shield. See the below table to find out which Tennessee health insurance companies sell silver plans to 40-year-olds for less than $700 per month.^[7]

When Is Open Enrollment for Health Insurance in Tennessee?

Tennesseans can enroll through the federal Health Insurance Marketplace during open enrollment, which lasts from November 1 to January 15. When you sign up by December 15, your coverage will take effect at the start of the new year. Otherwise, your coverage will begin in February.^[8]

Once open enrollment has passed, you won’t be able to join a Marketplace individual or family health insurance plan unless you qualify for a special enrollment period. Special enrollment periods occur when you experience major life events such as getting married or having a baby.^[8]

What Types of Health Insurance Are Available in Tennessee?

If you live in Tennessee, you may be able to enroll in a wide array of health insurance coverage types such as these:

• Marketplace health insurance
• Coverage purchased directly from a private health insurance company such as short-term health insurance
• Employer-sponsored group health insurance
• Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation coverage
• Medicare
• Medicaid, also known as TennCare in Tennessee
• Children’s Health Insurance Program (CHIP), also known as CoverKids in Tennessee
• Department of Veterans Affairs (VA) health benefits
• Student health plans

How To Get Health Insurance in Tennessee

Different health insurance companies may have different methods for calculating premiums, which is why you should compare health insurance quotes from at least three to five carriers to find the most affordable health insurance in Tennessee. That may seem intimidating, especially if your plan is to contact carriers one at a time to request quotes.

However, you can instead enjoy a hassle-free process by comparison shopping through SmartFinancial. Let us know about the type of coverage you need and we’ll connect you with agents who can help you compare rates for the best plans in your area. Start comparing health insurance quotes for free by clicking here.