A new Tufts Health plan from ultrahealth, a subsidiary of US health giant OptumPierce, has the lowest premium for a health plan in the US, according to data from the insurance giant.
UltraHealth’s plan, which was launched in December, has a $1,000 deductible and a $7,000 annual deductible.
The plan, launched in the Boston area, covers up to a year’s worth of medical expenses, but it doesn’t include a co-payment.
UltraHealth has been around for a few years now, with a number of competitors.
The cheapest plan on the market is OptumHealth, which comes with a $2,500 deductible and $6,000 per year deductible.
A few months ago, Ultra Health unveiled its own premium plan, Ultima Health Premium, which includes a $5,000 monthly deductible and no co-payments.
Ultima has had a bit of a rocky start to the year, but its growth has been steady, with the health plan growing its market share to 2.5 percent last month from 1.9 percent in December.
Ultima Health has about 11,000 customers.
The company also offers health insurance through the US HealthCare.gov marketplace, which has more than 100 insurers and plans.