How Much Does Health Insurance Cost Per Month?


Whether you’re in charge of a household, or single and in charge of only yourself, most of us have a budget. Each month we hold ourselves accountable to pay for rent, utilities, groceries, car expenses, credit card bills, and more. While most of these obligations are no-brainers, the cost of medical care can be a little trickier to estimate. We will unravel the numbers for healthcare coverage and help you determine: how much will health insurance cost me per month?

In the past, health insurance providers could use any number of factors to determine the price of health insurance premiums. Before the Affordable Care Act was passed, companies could discriminate based on gender or health status, and they could factor the risk of future medical claims into pricing profiles.

Now, insurance companies can only use age, location, plan category (e.g. Bronze, Silver, Gold, Platinum), tobacco use, and whether your plan is for an individual or family to set premiums. While some states like New York and Vermont do not use age when determining health insurance premiums, for most states this is a major contributing factor. The age of 21 is used as the base age, with premium costs being adjusted upwards for those in their thirties, forties, fifties, and sixties. The biggest rate increase occurs for adults over the age of 50. This reflects the higher expected share of healthcare costs that older Americans tend to utilize.

Tobacco use will affect how much health insurance costs you per month. In fact, health insurance companies can charge smokers up to 50% more than non-tobacco users. While some states have elected not to allow insurance carriers to charge smokers the maximum, tobacco use does still affect pricing.

Location affects the number, too, mostly due to the amount of (or lack of) competition in a particular area or region. While competition can be intense in populated areas, rural parts of the country may only have one or two insurance companies, thus making pricing higher for these residents.

Finally, your choice of plan will also influence the average health insurance cost per month. Plans are broken down by metal tiers and carry different premiums based on what percentage of overall healthcare costs they cover. Insurers can also charge more for a plan that covers family members.  Plans also have different deductibles, co-pays, and other cost-shares than can affect monthly premiums.

All these factors will greatly influence the amount you will pay. Still, according to The U.S. Department of Health and Human Services, the average monthly health insurance cost is around $328. This data is based on a mid-tier, or silver, health plan and does not include any reduction in cost from subsidies.

The answer to “how much does health insurance cost per month” is going to be different for every person. The quickest way to get the most accurate answer is to obtain an online quote based on your personal information and selections. HealthMarkets Insurance Agency can help you do this. We have licensed insurance agents who understand these plans and can guide you through all of your choices. We operate independently of insurance companies and the government, so our advice is always in your best interest. Our service is quick, easy, and free*. Getting a free quote will finally put an end to your question: how much will health insurance cost me per month?

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