Health Insurance Costs

Average Cost of Health Insurance 2018

Value Penguin published a survey of 37 States.

Health Insurance premiums have risen dramatically over the past decade. In the past, insurers would price your health insurance based on any number of factors, but after the Affordable Care Act, the number of variables that impact your health insurance costs have been reduced dramatically.

We conducted a study to look at how health insurance premiums vary based on these characteristics. In our data we illustrate these differences by using an example 21 year old.

Monthly and Annual Health Insurance Rates by State (Age 21) Average Healthcare Insurance costs vary from State to State. Annual costs range from $2160 per year in Utah to $5112 in Alaska.  In most States, premiums are around $3000 per person.

Older consumers will see higher rates with

30 year olds paying 1.135 times more,

40 year olds paying 1.3 times more,

50 year olds paying 1.786x and

64 year olds paying 3 times the cost listed.

https://www.valuepenguin.com/average-cost-of-health-insurance

Comments

So, in Alaska, a 64 year old will pay $15.336 a year for health insurance and a 21 year old will pay $5112 for health insurance.

Before Obamacare, health insurance was relatively cheap for individual plans. As a 65 year old in 2008 I bought a $5000 deductible individual major medical policy for $144 per month.

Norb Leahy, Dunwoody GA Tea Party Leader