How Much Does Individual Health Insurance Cost?

In 2020, the national median cost of health insurance is $ 456 per person and $ 1,152 per family per month. However, costs vary among a wide variety of health plans. Understanding the relationship between health coverage and cost can help you choose the right health insurance for you.

To view personalized quotes for coverage options available in your area, search for health insurance by state.

What is individual health insurance?

While many people get their health insurance through an employer or union sponsored group plan, others buy it themselves. If you buy your own health insurance, you are buying an individual plan, even if you include family members in the plan. If this sounds like what you need, let E-Health show you all of your individual and family health insurance options, and use our free price comparison tool to find an affordable plan that meets your needs.

As a result of the Affordable Care Act (ACA), people can purchase individual health insurance through a government marketplace or marketplace (commonly known as ACA plans), or they can purchase health insurance from insurers private. You may be restricted from purchasing health insurance through the government exchange at certain times of the year. You can usually buy health coverage from a private insurance company at any time.

All ACA plans must cover 10 primary benefits, such as coverage for hospitalization, outpatient care, preventive care, maternal and child services, lab tests, rehabilitation services, mental health treatment, and prescription drugs. Each insurance company can decide how to provide these benefits and possibly additional benefits. Mineral levels help buyers understand how much of average medical costs the plan will pay and how much the consumer will pay.

How much does individual health insurance cost?

The cost of individual health insurance varies. Personal coverage options plus age, income, location, number of family members (if any) included in your coverage, and health care use - a factor in the true cost of health insurance.

You can get a reliable estimate of your costs by knowing your health plan premiums, deductions, cost-sharing rates, and maximum out-of-pocket costs. With this information, you can also compare health insurance plans. Licensed e-health insurance brokers provide expert knowledge of available health plans. They can help you compare options to find an affordable health plan that meets your needs.

premium

In exchange for Medicare coverage, your insurance company charges you a monthly premium.

According to a recent eHealth study of ACA plans, in 2020, the median national health insurance premiums for an ACA plan are $ 456 per person and $ 1,152 per family. This average cost does not include people who receive government benefits.

You can learn more about the average cost of premiums for ACA compliant plans in your state by visiting our resource center or by contacting e-health insurance agents at the toll-free number on this page.

Discounted expenses and shared costs

A deductible is the amount you pay for health care services each year before your health insurance pays its share of the costs of covered services. Our study found that in 2020, the average annual tolerances for individual and individual coverage are $ 4,364 and $ 8,439 for family coverage. Keep in mind that deductions for individual health insurance plans vary widely - some can be as low as $ 0.

Copayments and coinsurance payments to share the costs you make each time you receive medical services after meeting your annual deduction.

A copayment is a fixed amount you pay for covered health care services. For example, suppose your plan includes a combined sum of $ 30 and a visit to your doctor is $ 150. If you are:

• If you do not meet the deductible, you will pay $ 150 at the time of your visit.
• Met deductible, will pay $ 30 copay

Coinsurance is a percentage of the covered health care service that you pay for covered services after you have met the deduction. Suppose your plan has a coinsurance of 20% and a visit to your doctor costs $ 150. If you are:

• You do not pay the deductible, you will pay $ 150 for a visit
• Meet the deductible, you'll pay 20% of the $ 150 (that's $ 30)

Maximum pocket eccentricity

And the maximum outlay is the financial safety net. This dollar amount is the most you can spend on covered services in one year. Once you reach that amount, the insurance company pays 100% for covered services for the remainder of the expiration year. Your deductible, copayments, and coinsurance payments count toward the annual out-of-pocket limit.

For the 2020 plan year, the maximum ACA plan cannot be more than $ 8,150 per person and $ 16,300, as reported on Healthcare.gov. Many plans offer fewer out-of-pocket limits.

How do you find an affordable plan that meets your needs?

Among e-health customers who purchased ACA individual health insurance, more than 75% chose Bronze or Silver plans. Your state may host an exchange to compare and buy ACA plans, or you can use the federal exchange at Healthcare.gov. Please note that it is not publicly traded.

Licensed electronic health insurance brokers can help you find the best health plan to meet your health coverage needs and budget. They will listen to your health coverage priorities and use their expertise to meet your needs with in-market and off-market health insurance options.

Can I lower my health insurance costs?

You can't control when you are sick or injured, but you do have some control over how much you pay. While an eHealth broker can help you identify potential cost controls for your specific situation, here are some ways you can lower your health insurance costs.

• Check to see if you qualify for government benefits. If you buy your own health insurance, you can get help paying for it from the state aid program. The advanced tax credit benefit reduces your monthly premium. A cost-sharing discount program can lower the amount of cost-sharing you pay for health care. Both programs are designed to help low-income people. You can use the Healthcare.gov tool to see if you qualify for lower costs.
• Check to see if you are eligible for Medicaid. Every state has a Children's Health Insurance Plan and Medicaid (CHIP) to provide health coverage to low-income individuals and families. Contact your state department of insurance or health department for more information on these programs and if you are eligible to enroll.
• Check if you qualify for Medicare. You may be eligible for Medicare if you are 65 or older, even if you are still working, or if you have any age or disability. The standard monthly premium for Medicare Part B (medical insurance) is $ 144.60 for 2020. Most people who have worked for at least 10 years and paid Medicare taxes do not pay a Part A premium ( hospital insurance).
• Choose a high deductible plan that combines a Health Savings Account (HSA). If you don't qualify for government assistance programs, you can save money with this type of insurance plan. The premium is low for the higher discounted plans, and many plans pay for some preventive care. Health savings accounts are savings accounts that you use to pay for medical expenses that your insurance has not paid for. You can save taxes with a health savings account because the money you put in and collect is tax free or tax deductible.
• Buy a medical supplement plan and a high discount plan. You may be able to save money by choosing a high deductible plan to help pay your expenses if you are seriously ill or injured, and a supplemental insurance plan. Supplemental insurance provides coverage for specific health conditions, such as accident, critical care, disability, or death. Typically, the average premiums for these types of plans range from $ 25 to $ 50 per month, and there are generally no discounts.