As healthcare costs steadily climb, it can be difficult to find an affordable, high-quality health insurance provider in South Carolina. That’s why South Carolinians are more likely to be uninsured compared to the nationwide population. As many as 18% of non-elderly adults in South Carolina are uninsured and will end up paying a tax penalty this coming April.

But a yearly tax penalty isn’t the only reason to get health insurance. It’s also the best way to protect yourself and your family if you ever become ill or injured. Whether it’s making monthly prescriptions more affordable or chopping the bill for surgery in half, health insurance is a smart financial decision.

Ready to find affordable health care in SC? Read on.

The South Carolina Healthcare Marketplace

Health Insurance Providers in South Carolina

Recently, the number of healthcare providers in South Carolina has been fluctuating quite a bit. The number rose from 3 to 4 in 2015, but then went back down again in 2016. Only a year later, the number plummeted to just one provider.

But there’s good news! This year, the number of healthcare providers in South Carolina is set to skyrocket back up to 4.

Why is this good news? Because more providers mean more competition, and more competition tends to drive down prices, thereby making insurance more affordable for you, the consumer!

According to Matthew Goldfuss, Director of New Business Development at TrueCoverage, “South Carolina at one point had as many as 4 different carriers on the exchange, which provided consumers more choices. But then just like almost every other state, the carriers began dropping off. At one point in 2018, they had gone down to just one carrier on the exchange. But this coming year, they are set to expand to 4 again. This is a trend we are beginning to see throughout the country, and this is a very welcome development for consumers.””

Now you can choose from health insurance groups like Blue Cross Blue Shield, Cigna, Humana, United One Health, Bright Health Insurance, and Molina.

How Much Will You Pay for Health Insurance Cost in South Carolina?

As South Carolina welcomes more health insurance providers into the state, plans will go down in price.

But right now, it’s still fairly costly to get health insurance in the state. You could pay between $207 and $444 a month for premiums, depending on whether or not you qualify for subsidies.
Ultimately, there are 5 primary factors that decide how much you will pay in premiums each month. These factors are:

  • Coverage Level: Under the Affordable Care Act (ACA), there are four different tiers of coverage that you can choose from. Depending on whether you choose a bronze, silver, gold, or platinum package, you will pay more or less in premiums. The better the plan, the more you pay in premiums, but the less out pay in out-of-pocket costs.
  • Whether you qualify for a subsidy: The ACA put aside money for people who need help paying for health insurance. That means, depending on your income and family size, you may qualify to pay less in premiums.
  • Your address in South Carolina: Where you live impacts how much you pay for insurance, as well as which providers you can choose.
  • Your age: Under the ACA, you cannot be refused healthcare because of your age. But how much you pay does depend on how old you are.
  • Whether you smoke: The ACA allows insurance providers to charge tobacco-users a higher premium—up to 50% more!

To get a more specific estimate, input your information into this calculator.

How To Buy The Best Cheap Healthcare in South Carolina

Searching for healthcare in South Carolina can be intimidating and overwhelming. That’s why we made TrueCoverage. We want consumers to be able to find amazing health coverage that they can afford, so we made it easy to compare and shop all the options.

Make an appointment with one of our experienced agents to calculate the exact subsidy you qualify for. They can also help walk you through provider options and find the best choice for your budget and needs. Call or email today!

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