![]() For example, the average premium in New Hampshire is just $323, but it’s a whopping $802 in Wyoming. Location: Some states are more affordable when it comes to health insurance, and others are more expensive.Age: You can expect to pay more for health insurance on the marketplace as you get older, like we saw when we compared prices above.Let’s start with the five factors that insurance companies are legally allowed to consider when deciding how much you’ll pay for a marketplace plan. What Affects My Health Insurance Premium Costs? The numbers are based on families with a $100,000 household income who don’t use tobacco or receive financial assistance. So, to help you get an idea of what the costs might look like for your family, here are some examples. Wondering how much marketplace health insurance costs for a family of four? Well, the answer depends on the age of both parents and both children. Here’s a look at the average cost of health insurance for an individual based on monthly premiums for Bronze, Silver and Gold plans:Īverage Cost of Health Insurance for a Family of Four Gold plans have high monthly premiums but low deductibles, coinsurance and out-of-pocket costs. Silver offers lower deductibles (the amount you have to pay before the insurance company steps in) and out-of-pocket costs than Bronze, but you’ll pay more in monthly premiums. Bronze plans give you lower monthly premiums, but more out-of-pocket expenses. Most folks go for a bronze, silver or gold metal tier. ![]() With platinum insurance, the insurance company pays 90% of your health care expenses, but that means they’re the priciest plans out there. Catastrophic plans are the cheapest and provide bare minimum coverage-they have the highest out-of-pocket costs. The two least common plans among those options are catastrophic and platinum, since they’re both on the extreme ends of the spectrum. They do not affect the quality of care you have available. These tiers give you different options on how much your plan will pay out versus how much you’ll pay. When it comes to marketplace health care plans, there are five different levels of coverage-catastrophic, bronze, silver, gold and platinum. These numbers are based on the average marketplace silver plan premiums for a single adult with no dependents who doesn’t use tobacco, makes $60,000, and doesn’t receive financial assistance.Īverage Health Insurance Premiums by Tier Here’s a look at just how much you can expect your insurance costs to rise during your lifetime. ![]() As you age, your health insurance premiums will go up.ĭo you have the right health insurance coverage? Connect with a Trusted pro today. ![]() How much does health insurance cost by state? Here’s a look.Īnother factor that affects how much you’ll pay for health insurance is your age. Your cost will depend on the state you live in, your age, the tier of insurance plan you choose, and some other factors that we’ll discuss later.įor now, let’s take a look at the average costs of marketplace health insurance by state, age and plan tier.Īverage Cost of Health Insurance by State Even though $456 is the average cost of a monthly health insurance premium for adults in America with a marketplace plan, the amount you pay will probably vary a little bit from that. ![]()
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