Here are some clever programs, hacks, and perks that can help young Americans lock in cheaper premiums while maintaining solid coverage.

1. Cost-Sharing Reductions (CSRs)

If your income is under 250% of the Federal Poverty Level (FPL) (about $36k/year for an individual in 2024) and you qualify for Premium Tax Credits (PTCs), you may also qualify for CSRs.

Why it matters:

CSRs lower your deductibles, copays, and coinsurance, so you pay less when you actually use your insurance.

Key Trick: CSRs only apply to Silver-tier plans, but a subsidized Silver plan can behave like a Gold plan at a fraction of the cost.

2. Special Enrollment Period (SEP) Tricks

You usually need to wait for the Open Enrollment Period (OEP) in November–December to get coverage. But a life event can trigger a Special Enrollment Period, letting you apply any time.

Qualifying events include:

• Losing job-based insurance

• Turning 26 and aging off a parent’s plan

• Moving to a new state or county

• Getting married or divorced

• Having a child

• A major change in income

Tip: If you're currently uninsured, check if you qualify for an SEP.

3. State-Level Assistance Programs

Some states go the extra mile with additional subsidies and longer enrollment periods.

Examples:

• California, New Jersey, Vermont: Extra financial aid for middle-income earners

• New York & Minnesota: Offer Basic Health Programs (BHPs) for those who earn too much for Medicaid

4. Medicaid Expansion (Check Your State!)

Under the Affordable Care Act (ACA), many states offer Medicaid to individuals earning under 138% of the FPL (~$20k/year for a single person).

Trick: Even in states that didn’t expand Medicaid, you might still qualify based on pregnancy, disability, or medical conditions.

5. Catastrophic Plans (for the Super Healthy)

If you’re under 30 or qualify for a financial hardship exemption, you can get a catastrophic plan—with ultra-low premiums but high deductibles.

What you get:

• 3 free primary care visits per year

• Full coverage after a $9k+ deductible

👌 Best for: Healthy folks who rarely go to the doctor but want protection from big bills.

6. Employer-Sponsored HRAs (Health Reimbursement Arrangements)

Some employers offer Individual Coverage HRAs (ICHRA) instead of traditional insurance, reimbursing employees who buy their own plan on the marketplace.

Tip: If your employer offers an ICHRA, it might make a higher-tier plan surprisingly affordable.

7. College or University Health Plans

Many universities offer affordable student health insurance, sometimes even for part-time students.

Tip: These plans often count as Qualifying Health Coverage (QHC) under ACA rules, so you won’t need a separate policy.

8. Bundle Health, Dental & Vision for Discounts

Insurers often bundle health, dental, and vision insurance at a discount.

🦷👓 If you need all three, bundling could be cheaper than buying them separately.

9. Use a Health Savings Account (HSA)

Choosing a High-Deductible Health Plan (HDHP) opens the door to an HSA—a tax-free savings account for medical expenses.

Perks of an HSA:

• Tax-free contributions and withdrawals

• Funds roll over yearly

• Can double as a retirement account

Bonus: Some employers contribute free money to your HSA!

10. SHOP Marketplace for the Self-Employed

Running a side hustle or a small business? Look into the Small Business Health Options Program (SHOP)

You could qualify for group insurance rates even if you're a sole proprietor—often cheaper than buying a solo plan.

Want more insurance hacks like these? Stay tuned for the next post in the series, where we’ll explore how to choose the best metal tier based on your real-life needs.

Related Stories