Is There Cheap Health Insurance? 
How do you define cheap ? In 2014 the average monthly cost for a Silver level ObamaCare compliant major medical plan was $ 328 . By that standard any coverage costing less than that would be `` cheap '' . People who qualify for little or no subsidy of their individual health insurance -LRB- shame on you for making more than $ 42,000 annually -RRB- may argue that $ 328 or more per month for health insurance is n't affordable much less cheap . But the folks in Washington , D.C. know better about these things than you do . Some people who are healthy and are low consumers of health care services have turned to Short Term Medical plans as a more affordable option for health insurance coverage . And , indeed this may work out well for some people as Short Term Medical policies are generally cheaper than individual major medical policies . However , before pursuing this strategy you do need to be aware that Short Term Medical plans do n't cover pre-existing conditions , usually do n't cover preventive care , may not cover prescription drugs and may have other limitations . Also , they do not meet the criteria under ObamaCare for avoiding the individual coverage mandate and therefore can leave you vulnerable to a tax penalty for noncompliance . You should seek out an experienced health insurance agent to discuss your needs and options and to fully understand whatever health insurance product it is that you purchase . 