We'll show you how to compare health insurance plans in Madison, Wisconsin that fall within the same price range.

A Comparison of Two Cheap Family Health Insurance Plan Options in Wisconsin

When you’re looking for cheap health insurance for your family, it’s difficult to tell which plan to choose. The first question to answer is whether or not your family qualifies for subsidies. If so, health insurance can be relatively cheap, even for a family. If not, there are some other plans that can save families a lot of money.


Below is a comparison of two of the most popular cheap family health plans – for a couple, both aged 30 who do not use tobacco and live in Dane County with their two children aged 10 and three.

2016 Silver Plan
Monthly premium without subsidy
 $800
Monthly premium minus $714 subsidy $89
Family Benefit Type Cost Information Details
Deductible $0
  • These fees are payable to the health care provider or pharmacy at the time the health care service or prescription is provided.
  • Hospitalizations cost $500 / day up to the maximum out-of-pocket of $3,400 per year
Coinsurance 0%
Maximum Out-of-Pocket $3,400
e-Visits $2
Office Visit Copay (PCP / Specialist) $3 / $15
Urgent Care Copay $15
ER Copay $100
Mental Health Outpatient Copay $3
Hospital Copay (Inpatient / Outpatient) $500 per day / deductible then Coinsurance
Pharmacy Copay $3 / $20 / $50 / $300
2016 Bronze Health Savings Account (HSA) 
Monthly premium without subsidy
 $580
Monthly premium minus $580 subsidy $0
Family Benefit Type Cost Information Details
Deductible $13,100 Essentially, with this plan, the member will pay all costs up to $13,100. These costs can be paid from a pre-tax HSA account. Contributions to the HSA are 100% tax deductible and only $6,750 per year can be deposited. Withdrawals are not taxed, and the interest earnings accumulate are tax-deferred. If the interest is used to pay for qualified medical expenses, they are also tax-free. Also, the funds can accumulate year over year.
Coinsurance 0%
Maximum Out-of-Pocket $13,100
e-Visits Deductible, then Coinsurance
Office Visit Copay (PCP / Specialist) Deductible, then Coinsurance
Urgent Care Copay Deductible, then Coinsurance
ER Copay Deductible, then Coinsurance
Mental Health Outpatient Copay Deductible, then Coinsurance
Hospital Copay (Inpatient / Outpatient) Deductible, then Coinsurance
Pharmacy Copay Deductible, then Coinsurance

These two plans appeal to very different families. Which plan is the cheapest depends of the family’s unique situation. For example, the silver plan might be a good choice for a family that regularly uses health care services. This is because it offers low copays and no deductible. Plus the maximum out-of-pocket costs in a policy year for in-network health care services are $3,400 (not including the premium of $89 per month).


On the other hand, the Bronze HSA plan has the benefit of providing coverage with no monthly premium. This plan may be a good fit for families that rarely use health care services or families that have already built up savings in a Health Savings Account. The family will have to pay the full cost of health care services up to $13,100. However, this plan does provide good coverage in the case of hospitalization.


When looking for cheap health insurance for your family, it’s also important to consider benefits beyond what’s listed above –

  • Provider networks – For example, a family with two young children may want access to the American Family Children’s Hospital in their network
  • Wellness Programs – Many health insurance plans offer robust wellness programs, even with the cheapest plan. For example, Unity reimburses up to $200 / year for working out, eating healthy and more
  • e-Visits – Does the health plan contact with an outside service to handle e-Visits? Or do they use UW Health practitioners based here in Wisconsin?

 

Ready to start shopping for cheap family health insurance options in Wisconsin? Get a Quote to have a look at our plans. Have questions? Give us a call at 800.362.3310 to talk to one of our customer service representatives.