Below are some factors that affect your healthcare premiums, which can help you figure out what your health insurance might cost each month. Your choice of plan will also affect your average monthly cost for healthcare coverage. In this scenario, you are better off getting a plan that has lower maximum out-of-pocket costs, even though it has more monthly premiums. A gold plan might be a better option for you if you are willing to pay a little bit more every month in premiums in order to have a higher percentage of your health care costs covered by the insurance than you would with a bronze or silver plan.
If you can afford to pay more each month in premium costs in return for smaller medical costs related to extensive, continuous health care, a Platinum plan might be the best option. It covers 60% of costs, and you pay 40%. The bronze plan is the least expensive of the four levels, premium-wise. Covers 70 % of costs, you pay 30 % This health plan tier is generally best if you qualify for programs like cost-sharing reductions and tax credits to help with healthcare coverage. Typically, plans with higher monthly premiums have lower deductibles and lower cost-sharing.
Your monthly premiums will be higher, but you also hit the limit on deductibles more quickly compared to lower-tier plans. If you want a health plan that covers your partner or children, you can expect to pay more every month than you would if you were buying health coverage just for yourself. If you anticipate costs, such as for mental health needs or a pregnancy, in the near future, consider health insurance options with the needs of your family in mind, as well as plans. If that sounds like something you need, let eHealth show you all your options for individual and family health coverage, and use our free quote comparison tool to find a cost-effective plan that meets your needs.
Once you have figured out what the cost of various health plans is, you can shop around to find the right plan for your health goals and needs – as well as a plan that fits within your budget. Choosing the right health plan can sometimes be confusing, but you are not alone. There are plans you can buy through private insurance providers, health coverage that comes with your job, and even ways to keep your insurance if you are out of work.
If you work for an employer that provides health benefits, the cost of your healthcare might go up, but the trade-off is you might get a boost from having your employer contribute toward your plan. Even if you do not have access to an employees plan, the cost of Obamacares health care plans can still be affordable — or, in some cases, even free — for people who qualify for Marketplace subsidies. You also might have lower-cost options if your employer offers health benefits, or you are eligible for state insurance programs such as Medicaid or Medicare, which offer comprehensive plans such as Medicare Advantage at an affordable cost.
If you are younger than 30, you may be able to find catastrophic health coverage through the Marketplace, and expect to pay $173 a month, on average, for protection if an emergency arises. Each of the plans available is offered with four levels of coverage, each at its own cost.
Here, you can find average monthly premiums, with and without subsidies, for the Silver plan, a benchmark plan, for select cities in your state. A benchmark plan is the second-lowest-cost silver plan available on a given exchange within a given area, and can vary within the state where you live as well. It is called a benchmark plan because this is the plan that the government uses – in conjunction with your income – to determine your premium subsidy, if any.
The national average premium for a benchmark plan was $452 in 2021, according to data from the Kaiser Family Foundation. According to the most recent study on ACA plans by eHealth, in 2020, the average monthly health insurance premium nationwide for ACA plans was $456 for individual plans and $1152 for family plans. The national average monthly health insurance costs for a single individual in an ACA plan in 2019 were $612 before tax subsidies and $143 after they applied for tax subsidies.
While the average family plan in 2020 costs $21,342, employees paid approximately $5,588 per 2020 family plan ($466 per month) with the employer paying the remainder. The average employer-sponsored health insurance premium for 2020 was 4% higher than 2019, at $7,470 per year for individual coverage (about $623 a month) and $21,342 for family coverage (about $1,779 a month) — again, 4% higher than 2019. If we are looking at average costs for individual health insurance, a young, single man can pay a premium of just $100 or up to $300 depending on what level of coverage he wants.
If you really do have a chronic condition, or you think that you might need medical attention more often, Peter Kongstvedt suggests looking into a slightly higher-premium health care plan, since that would probably come with a lower deductible and help you save overall. If you are generally healthy and at a low risk of developing a serious medical condition, it might be in your best interest to opt for a health care plan with a lower premium, either one offered through an employer or one that you purchase on your own, says Peter Kongstvedt. When choosing a plan, itas good to consider your overall health care costs, not just the apremiuma you pay your insurer each month. When looking at plans, youall see a rough estimate of your total costs,a including your monthly premiums and any out-of-pocket costs,a based on the expected care use in your family.
There are several different plan categories, depending on how you and your plan share care costs. Like with single coverage, the costs for your family will vary depending on age, location, plan category, tobacco use, and number of members in your plan. Care Membership plans, such as Mira, provide discounted healthcare services whenever you need them, with no deductible. You can learn more about the average premium costs of ACA-compliant plans in your state by visiting our Resource Center, or contact an eHealth Insurance Agent using the toll-free number on this page.