The costs of health care are often substantial and they can vary from one year into the next. It is possible that a family suffering from a chronic disease will have higher medical bills than another, despite both having the same health coverage.
You can use a tool, such as KFF's Marketplace Calculator, to find an affordable plan of health insurance that meets your needs and fits within your budget. The site also provides information on deductibles, out-of-pocket maximums and other cost-sharing options that are important for consumers to know before making their health insurance selection.
Average Health Insurance Deductible
A deductible refers to the amount of money you have to pay yourself before your insurer will start paying. Most of the time, your health insurance company and you will split the cost of the medical services you receive until you reach your deductible. Once you reach this point, the health insurance provider pays the remainder of the costs.
You can choose a high deductible health plan, or a low-deductible one. The low deductible health plan usually has lower premiums. But you'll have to pay more if your medical needs are urgent or you get sick.
The highest priced plans for individuals and familys have an annual deductible at least $1700. Lively CEO Ryan Wiik said that Obamacare based plans had the highest average deductibles.
You might want to consider a bronze tier health insurance policy if, as a health consumer, you do not anticipate using many medical services and you don't regularly take prescriptions. This plan can be inexpensive. Bronze-tier health insurance plans often have higher deductibles but lower premiums than other coverage tiers. Some bronze-tier policies have deductibles that are equal to the $7,900 limit on out-of pocket expenses set by law in 2019.